Video streaming services like Netflix are in high demand among viewers. Its success is inspiring to companies and organizations. For this reason, they are considering launching their own streaming services. They stream not only entertainment videos but also educational tutorials, breaking news, or content for a particular audience like Albanian TV app NimiTV does.
Netflix is popular among customers because it delivers VOD (video-on-demand) content. VOD platforms provide convenience and flexibility to viewers as they can access their favorite videos whenever they want. It differs from services streaming, for example, Albanian channels live or any other television programs, since they have a schedule. However, modern technology came up with time-shifted TV, which also provides convenience to viewers.
For this reason, a VOD streaming service is a perfect business opportunity. Let’s observe that in detail.
The right solution for VOD streaming will provide you with functionality for content monetization: from monetization models to applications and CDN. Check if the solution you obtain has the following revenue-generating approaches:
- SVOD or Subscription-based Video-on-Demand. It allows you to charge a fee from viewers every month, quarter, or year. People, in turn, purchase a subscription once a period and get unlimited access to all content on the service.
- AVOD or Advertising-based Video-on-Demand. AVOD platforms usually offer free content to viewers in exchange for watching commercial content during video playback. A content provider makes money by running ads on the videos.
- TVOD or Transactional-based Video-on-Demand. Unlike subscriptions, TVOD platforms charge a fee for every video available on the service.
- The hybrid monetization model is a combination of several models described above. For example, you allow viewers to watch videos with ads or to remove commercials by purchasing a subscription.
Another way to generate revenue is to cover more devices with the help of applications or expand to new territories by leveraging a content delivery network (CDN). It will help you reach more people around the world, which will also influence your revenue.
Three things are considered important on the way to the success of your streaming service: solution for VOD streaming, content, and marketing.
- The solution for VOD streaming provides you with all the necessary tools for generating revenue and enhancing your service.
- Content is king. It is what attracts viewers to your service in the first place.
- Marketing will help you attract people to your service. Use different channels to inform users about your video streaming platform.
All three combined can lead your business to constant growth and amazing results.
VOD services are pretty popular among viewers due to a variety of reasons:
- They usually stream original content: entertainment videos, educational tutorials, and breaking news.
- VOD stands for video-on-demand, and it literally means that videos are available at any time a user wants. Whenever they are in the mood to stream content on your service, they can enter it, find what they want, and enjoy it. There is no fixed schedule. Videos are stored on servers waiting for a user’s request for playback.
- VOD content is usually available on multiple devices, including mobile phones, TVs, tablets, and laptops. As a result, people can access your videos whenever they want: whether at home, at the cafe, or in the park. All they need is an Internet connection, a compatible device, and a VOD streaming service.
Viewers appreciate VOD streaming services because they allow consuming content however they want.
To conclude, a video-on-demand service can be beneficial for your business. The right solution for video streaming will provide multiple monetization opportunities. But don’t forget to invest in marketing and content creation. You have plenty of chances to succeed.