Video is taking up the internet by storm. Did you know that 82% of the internet traffic is videos? According to Statista, one of the most popular reasons to watch video content during the pandemic was because of entertainment.
VOD platforms have become popular amongst consumers as it gives them control over the content they watch. Video-on-demand allows its audience to watch video content at their own pace from anywhere without adhering to a broadcaster’s schedule.
As a result, you can see a steep rise in user penetration and revenue in this segment. Video-on-demand platforms are set to see a market volume of $126 billion by 2025. The user penetration is projected to reach 2,218 billion by 2025 as well.
Why do you need your own VOD Platform?
With the potential for higher revenue and greater exposure, many businesses are investing in VOD platform to stream their content to a bigger global audience. Not just in the content creation sector, but also educational institutions, corporate training and more are being moved into VOD software.
Video-on-demand solutions give you control over branding, customization, and putting your stamp on the content you create. With unlimited personalization options, several monetization models, and marketing methods, video-on-demand software can help you build your brand to the next level. You also get valuable feedback and have control over who sees your content, making it easy to manage your content and streaming as well.
Key VOD Platform Provider Features
Instead of starting from scratch, what is vod?, to build a VOD streaming business that has a competitive edge, use the best platform provider. By using a professional solutions provider, you get to focus on your content and let the experts build one of the best VOD streaming platforms for your business. Here’s a guide to choosing the right VOD platform provider for your business:
1. The Right Technology & Customization
In the VOD app business, it is essential to hire experts who provide the best technology while building your platform. To ensure your brand retention, you should look for a platform provider that allows 100% customization along with a white-labeling service. Along with this, look for good on-cloud or on-premise hosting to successfully store and stream your content. This is the essence of creating a good VOD platform.
2. Options for live streaming
Irrespective of your niche and usage, the ability to live stream your content, convert live streams into VOD content are some VOD platform requirements. Also, look for webcasts to mobile devices and simulcasts to cater to a wider audience. You can build community relations by introducing features like live chat, Q&A to your platform. These are especially helpful in e-learning and more.
3. A Good Content Management System
CMS is the most important feature for the launch of any VOD platform. A powerful CMS allows you to bulk upload, organize and schedule your video content. Along with that, having the CMS support multiple formats, with an option to add a content partner can make your work easy.
4. Dynamic Monetization Models
A high potential for revenue is one of the reasons many companies are starting their own VOD platforms. Thus, see the scope for multiple monetization models that a solutions provider offers. The popular models include subscription-based VOD, advertisement-based VOD, transactional VOD which charges per view, and third-party ad integration.
5. All Device Player
Consumers preferring control over what they see, they also prefer streaming across multiple devices like PCs, smartphones, smart TVs, and more. It is essential that the platform you choose supports multiple screen displays, without affecting the quality or resolution of the playback. Choose a provider that backs HLS and Dash streaming protocols for smooth streaming based on HTTP.
6. DRM & Security
VOD is no stranger to piracy and theft. Therefore, to protect your content, customer database, and more, have DRM integration, strict security along with social media logins during VOD platform development. This can save your content from unwanted hacks. Choose a platform provider that has multiple security measures including digital watermarking, encryption, and other features.
7. Reporting & Analytics
To grow your platform, it is essential to make decisions backed by quality data and feedback. With top vod platforms, you can access real-time analytics and reports that not just allow you to make business decisions but also monitor user behavior to improve your content and the platform.
A good VOD platform provider knows what’s best for your business. Pick the right provider by looking at the features required for your video-on-demand business along with the trending requirements in the industry.