Do you know that over 80% of traffic on the internet is for videos? VOD (Video on Demand) business is experiencing new heights every day due to growing demand. The recent COVID pandemic also contributed to the growth of VOD platforms.
Businesses and organizations are now monetizing their video content via VOD platforms. With on-demand video content, you can attract a wider audience. You can provide a movie VOD platform to your audience or can choose any other suitable niche.
In 2020, the revenue of the global VOD industry increased by 15%. During that tenure, its user base also expanded by 12%. Businesses are now preferring to have their own VOD platform to generate revenue. Are you planning on launching a VOD business? Read on to know how to launch a VOD platform for your business.
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What Is the Importance of a Professional VOD Platform for Business?
You can create a VOD platform and broadcast corporate events like product launches to your audience. Video-on-demand streaming can also be used to cater to the entertainment needs of your customers.
You must have heard about the top video-on-demand streaming platforms like Netflix and Hulu. You can also launch a video streaming platform by connecting with a reliable white-label platform provider. Professional platform providers can cater to diverse VOD platform requirements. Some of the top benefits of choosing a professional platform provider for your VOD platform business plan are as follows:
• Highly Customizable: A white-label platform provider will let you customize the specifications of your VOD platform. You can choose from various options during VOD platform development.
• Tech Stack: The technology you will use for the security and regulation of your VOD platform will determine its productivity. With the aid of a platform provider, you can choose the tech stack for your VOD platform according to the business requirements.
• Pay Once: With a white-label platform provider, you will gain ownership of the developed VOD platform. You can launch your VOD business model by paying only once for its development with a white-label platform provider.
• Integrated CMS: A professional service provider will help you in developing a reliable CMS (Content Management System). A CMS will aid you in distributing video content seamlessly via your streaming platform.
• Video Player: You cannot customize your video player with free services available on the internet. A white label VOD platform provider will aid in developing a multi-faceted video player for multiple devices.
• Analytical Insights: A professional VOD platform will provide analytical insights about customers. You can use the insights to shape your VOD marketing strategies.
• Robust Security: Since you will be providing branded content, you need robust security for your VOD platform. A professional service provider will help in adding security features like AES encryption, access control, paywall integration, and many others to your VOD platform.
How to Start a Video-on-demand Business? Step-by-Step Guide
Recently Amazon launched a group viewing feature for families. Netflix has also launched a ‘Play Something’ feature for PC users that automatically suggests video content. These updates and modifications to the VOD platform are only possible when you have chosen a white-label solution. The step-by-step guide to building a VOD platform is as follows:
Select a Reliable Platform Provider
How to set up a video-on-demand platform when you know nothing about the tech stack? You should research the platform providers and choose an experienced one. Make sure you choose a platform provider that offers various features like DRM, security, etc.
Add Personal and Technical Features
How to set up a video on demand platform with your brand logo? Well, a professional services provider will help you in adding various personal features like logo, brand name, and color scheme. You can add customized technical features to create a unique VOD platform. A white-label platform provider will help you with front-end customizations to make the UI better.
Select a Suitable Niche
What type of video on demand business would you like to start? There are various types of niches to choose from for your VOD platform. For example, if you want to provide entertainment content, you can choose from movies, docuseries, anime, etc. Make sure to choose a niche in which you can provide original video content to your viewers.
Develop an Effective CMS
How to build a VOD platform that can manage a huge content library? Well, the answer is to develop a reliable CMS for your VOD platform. Features like quick search, voice search, intuitive navigation, and many more can be added with a reliable CMS.
Develop the Video Player
The next step is to launch a unique video player that is compatible with numerous devices. Your VOD platform architecture should cater to the needs of users with different types of devices.
Choose the Revenue Model
How to start a VOD business and start earning? Well, you have to define the monetization for your VOD platform. The top monetization models for VOD platforms are pay-per-view, advertisement-based, and subscription-based models.
Grow your VOD Business
Provide original and engaging video content to grow your video on demand software. With the right marketing strategies, you can attract more users to your VOD platform.
Launch Your VOD Platform for Movie Streaming
Entertainment is the highest-rewarding niche for VOD business owners. A VOD movie platform will attract more viewers as they prefer a flexible viewing experience. You can develop a customized movie streaming website and can stream video content. Make sure to develop a scalable VOD platform that allows you to upload movies in bulk.
You can host videos from storage servers at your business premises. You can also opt for cloud hosting and storage which is a scalable solution. Choose a hosting solution that lets you provide a seamless viewing experience to your audience globally.
In a Nutshell
This guide to the VOD streaming platform will help you in launching your VOD business. Make sure to choose a reputed platform provider that lets you customize the VOD platform according to your business plan. Launch your VOD business now!