In this article, I’ll walk you through what you need to take care before launching a VOD business and then how to build a video on demand website & App to sell your videos worldwide.
On-demand streaming services are one of those trends that have gone on to become a religion. Though started by the millennials, this mode of entertainment has caught on like wildfire with every generation starting from baby boomers to Gen Z. The prediction graphs favor the climate of video on demand business than any other form of entertainment.
The revenue of the video-on-demand industry is projected to reach US $36,509M in 2020. And the market is expected to grow at a rate of 3.6% which has a market volume of US $42,089 Million by 2024
With these exceptional stats, it’s a promising opportunity for content creators, distributors, production houses, studio owners to invest in building a video on demand website like Netflix. As 2020 is experiencing great opportunity for content creators, video on demand platforms no exception to reach the targeted audience and generate revenue. The word video-on-demand reflects the worth of Netflix -like applications that it has achieved. Creating a video streaming platform like NetFlix can be achieved through certain parameters and technological understanding.
Here’s how you can create a platform like Netflix to generate revenue with video on demand services.
1. Prepare your entire business model including the niche you’re focusing on.
2. Partner with a video streaming or video on demand platform provider who provides the ideal tech stack to create streaming services like Netflix.
3. Add multiple numbers of features more than MVP to attract users.
4. Customize the video streaming platform with functionalities and features that best fits your business model.
5. Customize the layout design that represents your brand name.
6. Configure monetization models like SVOD, TVOD, AVOD and etc.,
7. Keep up with content distributors to stream popular movies, TV shows and even original content.
This is quite an important factor that decides the growth of your video on demand solutions. Customize the interface of your video on demand website that meets your brand value and entices your audience to watch streaming content within the platforms. Designing an intuitive user interface for your video on demand platform like Netflix paves a huge impact on brand value.
To successfully build a video streaming website like Netflix that entices large masses and get recurring engagement requires quality content. This factor boils down to two large methods in which captivating content can be pitched into your website. Either to research the market for well-doing videos and buy their rights or to create your own videos that are viral worthy for your VOD service that acts similar to Netflix. In case of opting for the second option, prime factors such as budget, crew, and script relevant to your viewer base are to be considered. It is also important to invest a considerable amount of resources in making your video on demand platform’s UI attractive, responsive and easy-to-use.
Any great content without proper management is bound to meet its end. Thus, efficient organizing and managing of video content on your video on demand solution are equally important. Analytics play a big part in managing your VOD platform.
Everything from SEO optimized elastic search engines, search tags based on genres, instruments, artists and real-time suggest algorithms aggregate your videos’ reach among the audience.
The long-term success of your video on demand software depends on how intelligently you monetize it. Though video-on-demand models often swear by the transactional VOD model for payment, there are multiple innovative payment schemes such as push TV and catch up TV that might intrigue your viewers to buy precise content of their interest in flexible ways.
Configure your video on demand platform with monetization models like Subscription (SVOD), Transactional (TVOD), Advertising (AVOD), Pre, Mid, and Post Ads and much more that best fits your business module. With these monetization, you can generate profitable revenue with your video on demand platform like Netflix.
VPlayed is completely a customizable video streaming solution that helps content owners, businesses to build a video on demand platform like Netflix. The content owners or distributors can have complete ownership of the video on demand website with their own brand name. VPlayed is equipped with a scalable content management system to deliver the right content to the right audience irrespective of geographical locations. On top of it, VPlayed’s video on demand solution comprises multiple monetization models than Netflix to monetize each content based on preference.
So what makes this video on demand solution stand tall among the crowd? To put it into perspective, we have created a list of features that are the onus to Vplayed’s style of curating solutions.
Readymade Yet Customizable: Readymade solutions call for cutting down the hatching time. But that doesn’t mean your product should be monotonous or generic. Go for a solution that incorporates your expectations with customizations.
On Cloud/ On Premise Hosting: Where you store your data should be decided by you. Vplayed provides the choice of using cloud servers such as Microsoft Azure, Google, Akamai, AWS or building an on-premise hosting system.
3-tier Security: AES encryption, Access control, and Data Rights Management offer a secured pathway for your data to be streamed and published. These security measures make sure your content stays free from any kind of security breach or infringements.
Multiple Monetization Models: Monetize your content with a wide range of options at your dispense. Video on demand websites has promising returns in ads, subscription plans, transactional schemes, catch up and push TV monetizing models.
All Device Player (HLS): HTTP live streaming is a media streaming communication protocol that is used to stream video content hassle-free. HLS player breaks the overall video stream into small HTTP-based file downloads, resulting in faster, errorless streaming.
Video Content Management System: Manage, organize and, modify your digital content efficiently with Vplayed CMS that perpetuates a collaborative environment. CMS curates everything from format management, editing, to publishing.
Analytics: Get an in-depth analysis of your revenue stats, users and their activities with Vplayed metric graphs. The dashboard breaks down the timeline of the activities the users are engaging in with clear-cut numbers of watch count display, most favorited and most commented videos.
Multi-screen Support: Launch your video on demand platform like Netflix on multiple screens such as Smartphones, Smart TV, Web, TV Set-Top Boxes, Android, iOS platforms and much more. This increases the opportunity to reach a wider audience base irrespective of devices and targeted audience.
User Profile Management: The functionality enables your users to have a complete view of the activity based on their preferences like Watched movies, subscribed channels, Logged-in devices, activation and deactivation of subscription plans and much more.
Integrated Video Marketing: With all the essential marketing features, Market your entire content across devices and unlock the true potential of every content that helps to monetize. The marketing tools help to track and monitor your content reach within the video on demand platform to grow your audience base.
Payment Method: Integrate multiple payment gateways to your platform with multi-currency compatibility. In addition, you can also view the duration each of your users has validity over their subscription, and when they would have to recharge again. The plans you provide for your users can be customized whenever you wish, with options to add new plans separately.
Unlimited Video Storage: Cloud or on-premise storage — Whatever your take may be, we do not drift from our quality. Get unlimited video/audio storage in any format and transcode with seamless operational quality.
Geographic Blocking of Video Content: Monitor and manage which content gets streamed where across the globe. Geo-blocking comes in handy to abide by national laws and have your platform in good books across borders.
Instant Playback & Return: Leave no space for buffering and latency. Vplayed offers instant playback with its advanced HLS player without having to worry about streaming ads, having high-end user-friendly UI and other customizations.
Creating your own video on demand website is no simple task. But along with the giant comes even bigger positive outcome. So if you are an entrepreneur who is considering to venture into this stream of entertainment, think no further.
Make sure you fend to the needs of your focus population through your own video on demand platform with custom awe-inspiring features that woo them to your platform.
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