Video on demand is totally dominating the streaming industry right now. Did you know it’s currently a $240.40 billion market? And it’s not stopping there – experts expect it to reach $786.10 billion by 2032!
So, launching your own VOD platform is the best thing you can do for your brand. With a custom solution, you can offer a tailored streaming experience that relates to your viewers and brings you higher engagement.
Read on to find out more about the benefits of custom video on demand software and which features make up a great one.
What is a VOD Platform?
VOD is a distribution model that lets users choose, watch, and stream video content anytime, anywhere.
Here’s how it exactly works: video content is pre-recorded, then stored in a content library, and finally delivered over the internet.
The best part? It is easy to stream on any device with internet access.
More and more viewers are cutting the cord on cables and switching to video on demand platforms. And not just for streaming movies and shows but for so much more! From online courses to fitness training and DIY workshops, anything is possible with VOD platforms.
Why does your brand need its own VOD Platform?
Wondering why you need to create a custom solution when you have so many video streaming services available to publish your content? Here’s how your own VOD streaming platform helps you.
- Customizes Viewing Experiences
Creating your video streaming service puts you in control of the direction in which you want to take it. Whether that means customizing features, sticking to specific genres, or managing who views your content.
The greatest part of it all is that you have the freedom to create and design the platform to suit your audiences’ preferences, increasing the chances of them viewing your content.
- Builds Brand Recognition
With your own VOD platform, you can offer a viewing experience that is in line with your branding. When that happens, viewers will associate your content directly with your business and not with a third party service.
It builds your brand identity, offering a consistent experience that ensures recognition with your audience.
- Maximizes Revenue Potential
With custom video on demand software, you get to decide how you want to raise money. You have the choice to mix and match different monetization methods together based on what works for your viewers.
Maybe you want to offer subscriptions with pay per view or mix content with ads. It’s up to you! Sounds nice, right?
- Eliminates Third Party Dependence
Third party platforms will take a share of your revenue while also placing restrictions on how your content is distributed. With a custom VOD platform, you can eliminate these demands. You have complete control over distribution, monetization, and other features.
- Gathers Actionable Insights
Owning a video on demand software lets you track what specifically matters for your business.
You can track everything, right from the content that’s most watched, where viewers drop off, and where most traffic comes from. This helps you improve your content to connect better with your audience.
- Connects Easily with Existing Solutions
Your custom VOD software will easily connect with your other tools, saving you from a tech headache. Whether it’s your CRM, marketing, or payment systems, it functions well with all your tools, helping you save time while making work better.
5 Features of a Video on Demand Platform that Matter
Now that you know how a custom solution benefits you, we will discuss what features you need to add to your VOD platform:
1. Video CMS
Taking care of your content should not cause you any trouble. A video content management system or CMS gives you one central place to store and share all your content.
You can organize videos with tags, group them, and the most amazing part? This system automatically delivers your content and, amazingly, adjusts the quality based on each viewer’s internet to make the viewing experience perfect.
2. VOD Transcoding
Ever notice how videos look different on your phone as compared to your laptop?
That’s where VOD transcoding shines. It takes your original file and creates multiple versions that work with different devices, internet speeds, and screen sizes. So, whether someone’s watching on their phone or computer, with fast or slow internet, they’ll get the best possible viewing experience.
3. Video Monetization
If you want to earn revenue from your video content, you need to make sure that the VOD platform provider offers various monetization methods. Let’s see: the most popular one is the subscription VOD, which asks for a fee on a monthly, quarterly, or yearly basis to watch as much content as an audience wants.
The next method is where one must pay to access a certain piece of content. It’s called transaction VOD, and we can tell you it works the best when you’re offering exclusive content. Finally, you have advertising VOD, where content is available for free but with ads.
4. White Label Video Player
You don’t want your videos to carry another platform’s logo, as it can mess up your brand identity and cause confusion in your audience. So, what should you do? Get a white label solution that lets you customize the platform by adding your own fonts and colors for a smooth brand experience.
And here’s another thing: white label streaming lets you easily add video players right onto your website and share them on your social channels.
5. Video and Security
Content piracy is a huge concern for you today. But worry not, we can assure you that it’s not a problem that doesn’t have a solution.
By focusing on HTTPS uploading and delivery, you can keep your data and your audience pretty secure. And if your content is super exclusive and you don’t want everyone to have access to it, put strong DRM mechanisms in place. These ensure that access to your content is limited to authorized users.
Final Thoughts
You know now that the demand for VOD platforms is growing fast – with most of us turning to video streaming services. The figure is close to 1.8 billion in 2023, which is pretty big right? With your own VOD solution, you can easily take advantage of this reach and set up a successful digital brand.
The best part is you can create your streaming business on your own terms with a custom video on demand solution.
So, now that you know what features you need, choose a reliable VOD platform provider and get started.
