Understanding Video on Demand Platform
What is a VOD? It is a service that allows users to watch any kind of video content available for a particular fee. Subscribers can access the content whenever they wish to, from multiple devices.
The need for video on demand solutions has increased in the past few years and is expected to spike. In the United States alone, the revenue from VOD is expected to be $36,079M this year.
VOD providers use professional platforms to upload diverse content. They make use of unlimited storage and quality viewing technology, to leverage and generate revenue.
A reliable VOD streaming platform is accessible to people across the globe. This is why it has the potential to gain users. By 2025, service providers expect the number of subscribers to reach 2,218.2M. The market volume, due to this, will be $126,548M within the next 3 years.
Why is a VOD platform necessary for the growth of your video business?
A video-on-demand streaming platform allows the provider to create a content library. This library consists of video content that users can access.
Once people understood what's VOD, they began launching and investing in such platforms. The demand for VOD services and online content increased in the pandemic, allowing providers to profit. This was due to people staying at home and preferring to view shows and movies they liked, whenever they wanted to.
Benefits of Using a VOD Platform
Now that you have the answer to 'what is video-on-demand', you need to know what advantages are available. Understanding 'what does VOD mean' also means knowing how you can make the service a success.
● Easy Streaming
If you know how video-on-demand works, you will know that it needs to be easily accessible. The advantage of using a VOD platform is that it will be accessible from multiple devices across the globe.
● Convenient to Set Up
Setting up a VOD service business is easy because the platform involves a one-time cost. You can invest in premium technology and create a space for quality streaming as that will allow you to profit for a long time.
● Can Reach More People
So, what does video on demand mean when it comes to providing entertainment for people all over the world? It essentially means that the platform can accommodate diverse video content that will reach a larger audience.
● Data Analytics for Managing Target Audience
Use data analytics to tailor content according to the preferences of your subscribers. You can also use analytics to expand the target audience.
● Bring in New Subscribers
Having reliable VOD platform providers is the best way to gain subscribers. If users are able to experience great content and streaming features, they will want to stick around.
How to generate revenue from a VOD business?
Once you understand what VOD streaming is, you need to figure out a way of successfully monetizing the platform. The different ways of doing so have been discussed below.
Subscription Video on Demand or SVOD is the most common VOD service. Users choose a subscription plan to view the video content available. These plans are usually for monthly or yearly payments.
Ad-Based Video on Demand or AVOD platforms allow users to view the content for free but the streaming is interrupted by advertisements. The revenue comes in because of these ads.
Transaction Video on Demand or TVOD services makes use of the pay-per-view model. Usually, providers with limited content use this revenue model where viewers just pay for the content they wish to watch.
Now that you know what is a video-on-demand, and how it can be monetized, you can choose the revenue generation method that will help you make the most profit.
Choosing the Best VOD Platform
To launch a successful video business you must know how to choose a VOD platform. There are several aspects of a VOD service platform. Given below are few features that VOD streaming platforms can benefit from.
● Improved Video Quality
The best VOD service will have adaptive bitrate streaming (ABR). This means that the video will come into sharp focus within a few seconds of playing it. With ABR, the stability or state of the end user’s connection or device does not matter.
● Content Delivery to Multiple Devices
There should be a stable content delivery network (CDN) for VOD meaning that the content should reach every kind of device accessing the platform. Video transcoding and processing make this possible.
● Stable and Scalable Content Delivery
Once you have the answer to 'what does VOD stand for', you will know that the videos need to be accessible at any time, from anywhere. The only way to ensure this is to use a CDN for quick content delivery to devices all over the world.
● Security Solutions and Revenue Generation
Exclusive content needs to be protected in order to successfully monetize VOD services. The best video on demand platforms come equipped with security measures. If you stop unauthorized viewing, many subscribers will join and more revenue will be generated.
● Cloud-Based Deployment of Streaming Infrastructure
If you know what a VOD is, you will know that there has to be specific infrastructure deployment to ensure the proper functioning of the service. VOD platforms usually use cloud-based infrastructure deployment.
● Broadcast of Pre-Recorded Videos
Select a platform that will allow you to pre-record live shows and broadcast them. The platform should have the technology to convert live streams into VOD assets.
When you know what a video-on-demand VOD is, you also need to know that a VOD platform is completely customizable. You can decide what to broadcast and what content to add.
Investing in and running a streaming video-on-demand service can be quite rewarding in terms of revenue. Once you know what VOD is, use the right technologies and tools to make it accessible and exclusive.