video on demand platform

How to Make VOD Platform for Business

An online source revealed, ‘’the value of the worldwide entertainment and media market fell to two trillion U.S. dollars in the year 2020. However, the forecast for 2021 suggests revenue will once more rise and surpass the pre-COVID levels, with a 2.2 trillion dollars result. ‘’

VOD platforms are ruling the current entertainment industry. 

Video-on-demand platforms have seen a spike in dependency due to the convenience it brings to stream unlimited VOD content anytime and anywhere. 

The purpose of the VOD platform is to make entertainment easily accessible without the restraints of poor networks, costly subscription plans, and a limited content library. 

Thus if you’re looking to enter the video on demand market and are wondering how to make VOD, this blog will be your guide. 

An online source revealed, ‘’The compound annual growth rate of the entertainment and media spending worldwide has been predicted between 2020 and 2025, by sector. Projections indicated that the sector which will see the most compound annual growth rate will be virtual reality, which will grow by 30 percent during the stated time.’’

Top Reasons To Use A VOD Platform in 2022

Bringing all exclusive content including the original ones at the user’s fingertips, was one of the major factors that led to the rise of VOD platforms. 

While the pandemic led everyone indoors, the introduction of video on demand platforms changed the way one can access entertainment.

Let’s understand this better with the popular top VOD platforms we are familiar with such as Netflix, Prime Video, Hotstar, etc. 

When it comes to streaming top shows, movies, documentaries, we sign in to these platforms and binge-watch all day. There is always something new to explore as these VOD platforms offer an unlimited VOD content library to surf from. 

Previously, to stream movies, we would either have to visit theatres or wait for the movie to come on TV and watch it on the scheduled time.

But now, VOD platforms launch new VOD content regularly making it easy to access entertainment. The content can be streamed as much as you like without any time constraints after its release. 

6 Ways To Build VOD Platform

VOD platforms are here to stay. 

If you’re entering this business, setting up your base, which is your platform here is important. 

Here are 6 ways to get started:

1. Identify your Offerings

The first step before you can build your VOD platform is to identify what form of VOD content would you like to offer to your audience. 

It could be multiple such as tv shows, movies, fitness programs, etc. Once you identify this, it becomes easier to understand how you can go ahead and execute your vision. 

2. Invest in a VOD platform

The next step to do is invest in a VOD platform. The purpose of the VOD platform is to help you conduct multiple actions to exhibit the VOD content. 

From creating content to organizing it and finally publishing it, you need a reliable VOD platform that makes the process easy for you.

For instance, when it comes to uploading bulk content, the process should be simple to import, when it comes to editing or creating categories, the process shouldn’t take much time, etc.

3. Build your content library

After you have the above two in place, the next step is to build your content library.

Start with a small category and work your way to add more content. Divide your content to make it easier for your audience to explore and search category-wise. 

4. Include a Video Player

When you include a video player, you are making it simpler to exhibit digital videos. 

 

Ensure that you invest in a video player that supports all types of video formats and can stream good video quality to users as per the devices used for streaming. 

5. Market your VOD platform

Once you have your video on demand platform in place, it’s time to bring the platform closer to your audience.

First, create a plan, secondly consider which marketing solutions can give you a better outreach such as social media ads, seo keywords rankings, content marketing, etc.

6. Choose your Revenue Model

Once you have the above in place, choose which revenue model will suit your audience and business better. Here are the options:

  • SVOD- SVOD is a subscription-based model. Here users will have to pay a fee to access your VOD library for a period of time. This is the popular and most demanded revenue model.
  • AVOD- AVOD is an advertisement-based model. Here revenue will be generated by placing ads into the video on demand content. It can be conducted via pre-roll, post-roll, or mid-roll. These ads stand a higher chance to be viewed as most of it will be relevant to what the users are streaming.
  • TVOD- TVOD is also known as pay per view model. Here users can pay a fee to access one type of content. This type of revenue is popular because users pay for what content they want to watch instead of paying as a whole.
  • PVOD- PVOD is a premium video on demand. Here users can access exclusive content much faster than other users by paying a fee. This is a revenue model that is working well amongst entertainment buffs.

According to Grand View Research, the global VOD streaming platform market is expected to reach 225 billion dollars by 2028. With technological advancements, the incorporation of blockchain technology in video streaming, and the use of artificial intelligence, video quality will undoubtedly increase market demand over time.

Conclusion

Video on demand platforms are the new form of entertainment and entering into this market will guarantee to shape your revenue figures. 

However, before we can count the figures, you need to first build an efficient VOD streaming platform. 

Luckily, there is a versatile VOD platform provider that not just helps you set up a great video on demand platform but also offers tons of features that will help enhance this platform even better.

So, tell us when do you plan to get started? 

What do you picture your video-on-demand platform to look like?

About meryemrai

Blogger and OTT Expert & interested in digging deep into Fitness streaming platform media business tools and Love to discuss and share views on the latest technologies tips, and tricks.

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