The VOD business is booming, and the numbers are staggering. According to reports, around 82% of internet traffic is video, and people are consuming more than 16 hours of video content per week. The demand for VOD services is at an all-time high.
In 2020 alone, the VOD industry saw a 12% increase in its user base and a 15% rise in its revenue. As per Statista, the VOD segment is projected to reach a market value of around $126,548 million by 2025.
Many businesses are leveraging this growth by establishing their own video content monetizing with best VOD platforms. With continual trend shifts, a fact is now known that consumer behavior is the key to secure the future of your showbiz & there, grabs undivided attention & best takeaway of VOD.
Having said that, the video on demand business is becoming increasingly popular so it’s important to consider the lucrative aspects covered in the power of online video platform and utilize it as a major revenue resource in the upcoming year of 2022.
This article discusses the impact, major industries, and benefits of VOD business, in addition to how to start your own VOD website.
Impact of VOD Business & It’s Trends
Audiences’ viewing habits have changed. Today, they prefer the convenience of video on demand over traditional TV. The freedom to stream content at any time from anywhere has popularized what is VOD extensively.
In a survey, 80% of global respondents said that they like to watch movies on VOD website, followed by 50% who consume on demand TV programs.
VOD website are great for delivering viewers the content of their choice and retain them for the long term. VOD websites and apps are also easy to monetize, leading to the growth of business revenue.
Type Of Industries Benefited Using Video On Demand Technology
Due to the versatile nature of VOD technology, many sectors are using it to streamline their operations and grow their business.
A report by Wibbitz suggests that 56% of marketers are currently implementing video in their content strategy, and another 61% are planning to do it in near future.
With HD video on the frontline of business and communications, VOD website are becoming more and more relevant.
Here are the top 5 industries that are leveraging video on demand technology in their business.
🔹 Media & Entertainment:
The M & E industry is all about providing information and entertainment to audiences. With content becoming increasingly video, VOD technology helps build business to effectively deliver it to viewers.
It majorly deals with media content related to film, radio and television where the genres range from movies, TV shows, radio programmes, music concerts, sporty events, news bulletins, talk shows, etc. It majorly relies on audio & video-based apps.
🔹 Sports & Fitness:
Sports & Fitness has always been a real-time physical experience. But VOD has added a new dimension to this online fitness platform industry by introducing recorded events that viewers can watch as many times as they want.
Let’s take a case of live game which is gaining due popularity these days. Sports VOD enable gamers to capture momentary experiences and post videos on their dedicated channels. Same goes with fitness, where people try to stay fit with accessible online fitness tutorials, takeup Instagram fitness challenges, personal training sessions, & more during COVID-19 lockdown hour.
Today, education is not only confined to classrooms. With the introduction of e-learning, students are able to learn remotely through recorded videos, lecture capture, flipped classrooms, and more, all made possible due to video on demand.
This industry has captured many eyes benefiting from most best online video platforms. One of the finest examples from UNESCO, let us know that distance learning programs are recommended in order to cope with the extensive impact of pandemic on the education sector.
VOD website help businesses with their communications by allowing an effective exchange of messages, training materials, instructional videos, and promotional content among the team members and the end-users.
Now how to start an online video streaming business will no longer be a worry as almost everybody is operating through a remote connectivity approach where collaboration software bridges the gap between stakeholders, ever since the pandemic outbreak.
Some of the video/ audio streaming solution and real-time chat apps like Zoom, Skype, Slack showcase perfect examples of productivity making virtual collaborations indispensable & are gaining centre-stage.
VOD technology helps religious organizations to spread their teachings and discourses across the world through recorded videos. Followers can watch the preaching sessions online and become a part of the community irrespective of their borders.
Like every other market vertical which witnessed its migration into the video industry, pandemic has also accelerated the prevalence of house of worship across all faith-driven communities. An uptick in interest is witnessed despite their replacement of in-person worship gatherings. Certainly, new opportunities have evolved for religious organizations, who are not bound to geographical restrictions while pursuing spiritual enrichment.
How do I start an online video on demand business?
Well, the first thing that pulls our attention is when we know that setting up a video on demand business isn’t a tremendous feat that is only reserved for only mighties! All thanks to the internet with its brimming ideas & innovations where it has made a real possibility for anyone to pursue in entertaining their aimed audience in the online video space.
The real advantage of picking a turnkey video on demand business is highlighted when you get user interface, customization & viewing experience all under your control.
Here are some simple steps to create a stunning video on demand website:
Step 1: Build a Good VOD Website
Your video-on-demand service will supply the wings for your business thus, it is the most critical element that you pick a service who can assist you 24/7.
Step 2: Leverage Maximum Potential to Diversify
The Internet has given wide options to venture while setting out to be in business with respect to satisfying varied user needs. This means that you can plan to introduce different ways of showcasing video content from your business.
Step 3: Fix a monetization model
Once you’ve intertwined your content strategy with necessary things, the next step would likely be to set quantifiable goals. Choosing the right monetization models like SVOD, TVOD & AVOD would help to measure success of any streamed content. Some of its highlighted perks are:
Way 1. Advertising Model
Ads significantly garner your revenue scales especially when it comes to content-based business. Here primarily factors underplay when you are starting to stream them, it is an all-time winner that supports your sustainability since its demand in the market is in volumes.
Way 2. Cross-Promote video
The power of video has hit many chords leaving you to do reciprocal marketing with brands focussed with alternate video content. You can charge a fee for per-video rate and cater to another set of audience increasing your website traffic.
Way 3. Novel Subscriptions
When you look for how to start a video streaming business it becomes important to gauge if your content can permit subscriptions. Seeking exclusive rights for it and having in-house shows can assure a sustainable model. Also proves as a unique differentiator than the rest.
Way 4. One Pay Per View
If you have content to sell on a piecemeal basis then definitely pay-per-view is your best choice. This model is primarily used when every video is priced individually. While building an on demand library if you haven’t had a vast one this can be your go-getter.
Why should your business Have a VOD App?
VOD has multiple benefits to offer to both the creators and the consumers. Here are 7 good reasons why you should build your own video on demand website.
VOD services allow users to watch the content as and when they like. There are no restrictions on time and place, and one can watch a particular content multiple times. Additionally, users can stream content of any geographical location, which is not the case with a traditional TV. With VOD, audiences also have the freedom to cancel their subscription at any time.
2. Unlimited Customers & Accessibility:
Having a VOD website of your own allows you to cater to unlimited consumers. One can access your website from any device with a single click. By creating content that resonates with your viewers, you can increase your audience base manifold.
3. Online Community and Passion:
VOD business is more than just videos viewing. It is about building a community around your ideas and passions with people who share similar interests. By delivering value and original content in their particular industry, one can become very successful in the VOD streaming world. Take the example of Netflix, whose users share a common sense of belongingness around its video content, resulting in Netflix becoming a viewer giant.
4. Source of passive income:
There are various monetization options in a video on demand business. With SVOD (subscription video on demand), you get recurring revenue month-on-month from your subscribers. This ensures a steady flow of income and allows you to focus more on creations without worrying about money.
5. Control over your variety of content:
By building your own video on demand website, you get complete control over your content. It is you who gets to choose what, when, and how you want to share your ideas with the world. There are no advertisers’ guidelines to be followed that may hamper your creativity. In short, you become your own boss.
6. Multiple Revenue Streams:
Video streaming services have multiple video monetization methods to earn revenue from the content. You can choose among the most popular ones, including (ad-based) AVOD, SVOD (subscription-based), and TVOD (transactional or pay-per-view). There are also options to use hybrid models like SVOD & TVOD or SVOD & AVOD to maximize profits depending on the business.
7. Ad-Free Entertainment:
There is no denying that advertisements have never been welcomed by our consumers. Most of them are ready to pay a premium VOD price to stream ad-free content. In traditional TV, viewers have no option but to watch the ads as the service uses AVOD monetization. But VOD provides them without ads entertainment after video subscription platform that attracts many consumers.
How to choose video on demand Business?
For building your own VOD business, you require the services of a VOD software. Today, the market is populated with various VOD business, but it is important to choose the right one that fits your individual business needs and goes well with your content strategies.
An effective VOD business must have all the latest features and technologies that are future-proof. A strong IT infrastructure coupled with a robust distribution network will help you remain relevant and scale up in the future.
If you are looking to make money from your VOD website, then pay attention to the monetization models and payment gateways support. Last but not the least, the service should be within your budget as the content creation and business takes heavy investments upfront.
How CONTUS VPlayed Helps Business to Build Successful VOD Website
CONTUS VPlayed is an end-to-end video on demand website builder that lets you digitize the video experience for global audiences.
- By finding the ideal niche on which you can create quality content, design a business model.
- The next step is to find a business service like CONTUS VPlayed and pay at a one-time cost which will be completely owned by you.
- Customize the added features in your kitty to suit your business based on what customers are actually expecting. Also, ensure to customize the layout according to your business and brand.
- Ensure that the videos are compatible to stream on multiple devices as well as on remote devices
- Find out the best video monetization platform that you can work with.
- Pay attention to the content management and security of the system with the necessary tools.
- Add features such as analytics to monitor the engagement rate and other progress of your videos to analyze them periodically & make necessary changes.
- Set up the on cloud hosting and build a VOD app that available after ensuring the security features.
Here are the top 6 features that make CONTUS VPlayed a strong VOD website.
- 100% Customizable:
CONTUS VPlayed offers best white label OTT platforms capabilities that let you host videos with your own branding. You can completely customize the website as per your brand identity without creating anything from scratch.
2. Multiple Monetization Model:
In addition to the three basic monetization models – SVOD, AVOD, and TVOD, CONTUS VPlayed also offers Catch-up TV, Coupons & Promotions, Third Party Ad Integrations, and Server-Side Ad Insertion.
3. On Cloud/ On-Premises:
CONTUS VPlayed provides both on cloud and on-premise facilities that you can select depending on your target audience, uses, and requirements choose best online video hosting platforms.
4. Secured DRM:
CONTUS VPlayed has a multi DRM security that offers end-to-end encryption and protects your content against piracy and infringement through secure video storage, dynamic watermarks, paywall integrations, and more.
5. In-Built Marketing Tools:
To enhance user engagement and lead conversions, CONTUS VPlayed provides multiple tools to create compelling CTAs, lead capture forms, and video email marketing.
6. All Device Video Player:
CONTUS VPlayed offers a flexible HLS-built HTML5 online video player that ensures a high-quality buffer-free viewing experience. It comes with adaptive bitrate streaming and multi-screen support that adds to the convenience of viewers.
Video on demand is a powerful tool for businesses. But knowing where and how to start can be a bit confusing. As mentioned, an advanced VOD services like CONTUS VPlayed can help you build an impactful website to directly broadcast your creative ideas to the world. With effective planning and thoughtful investments, you can surely achieve greater success.
If You Already Have An Idea About Starting A Video On Demand Business, Schedule A Free Demo And We’ll Get You On The Road To VOD Streaming Success!
Frequently Asked Questions(FAQ)
You can now build customized streaming business specially for various genres in video on demand by firstly planning content with the target audience. Then content production & uploading on the website comes into the category. When it's all set to stream you need to embed your video player & finally promote your VOD business.
With 2021 year nearing to a closure many business owners are flipping through the page to start video on demand service, looking forward to new avenues. On-demand video business models help to convert their vision into incredible success via its popularity, high engagement, versatile ways to target, & ability to share & monetize.
Streaming with an effective business revenue model largely depends on genre of content that’s added to a video on demand site created on your own. SVOD platform is the most common type chosen by media owners to reap constant profits. Other than that, selecting a perfect monetization strategy depends on audience’s choices to cater. Some may like to watch a complete pack where TVOD can help, apart from AVOD.
When you have decided to start an online video streaming business, secure video delivery comes into major play and we all know that security is the lifeblood of professional broadcasting. Some of the key protocols like AES Encryption, HTTPS Delivery, SSL Paywall, Password Protection, etc. will ensure to monitor your content originality.
While looking into establishing yourself as one among the big brands in the industry, typically Netflix can help you to gain best insights as it shares the standard-bearer. Subsequently, Vimeo occupies the place offering vivid video projects through on demand section. Then, definitely Twitch & YouTube TV are your best bets to enjoy people’s games. Not to forget, Amazon Prime & Hulu share an amazing library for standalone video subscriptions.