VOD streaming has become a trend nowadays as more people are cutting the cords. For the streaming industry, the global viewership has increased 70% in recent years. The increase in demand for connected TVs and gaming consoles is also highlighting the growth of the streaming industry. More than 60% of global streaming viewership comes through VOD platforms.
The net worth of the VOD industry will be more than USD 120,500 million by the end of 2025. At the end of 2020, the user base of the global VOD industry expanded by 12%. It is the right time to invest in VOD streaming services. Are you looking to launch a VOD streaming app? Read on to know the must-have specifications for a VOD streaming platform in 2021.
How to Build a VOD Platform in 2021?
You need to undergo digital transformation to launch a VOD platform. From streaming to security, you will have to adopt technology on a wide scale to launch your VOD platform. An on-demand video streaming platform uses an IPTV (Internet Protocol TV) system to distribute video content to the viewer’s device. VOD platforms also use a CMS to manage the traffic on their network.
To create a VOD platform, you also need to decide on your hosting tech. You can use cloud hosting or on-premises hosting through local servers. You need to put thought behind the tech stack before launching your own VOD platform. Adopting technology on a wide scale for your VOD platform will help it grow over the years.
A VOD platform should provide an omnichannel experience for maximizing customer reach. A VOD platform can be accessed via multiple devices like connected TVs, tablets, smartphones, etc. You can grow your VOD business by targeting customers with different kinds of devices. You need to ensure the compatibility of your VOD platform with different devices during its development.
How to launch a VOD platform when you know nothing about the required tech stack. Nowadays, publishers are preferring a white label VOD platform that lets them launch a branded streaming service. You can also contact a white-label platform provider for choosing the right tech stack for your VOD platform.
Guide to Build VOD Streaming Platform with the Must-have Features
Customers look for certain features before choosing a VOD platform. Besides having a USP (Unique Selling Point), your VOD platform should also have some must-have features. Users always look for security, accessibility, and compatibility features before choosing a VOD platform. For example, customers look for smart recommendations before choosing a VOD movie platform.
Many websites on the internet can provide you with a streaming platform for free. However, you will not be able to customize it as per your business needs. By choosing a white-label platform, you can ensure that your VOD platform will have in-demand features. The must-have features for a VOD streaming platform are listed below:
You need to launch a customized streaming solution for your VOD business. A 100% customizable VOD platform will let you add future updates easily. You also need to decide on a VOD hosting solution before streaming video content. You can host video services from local servers or can go for a more scalable cloud hosting solution. Your VOD platform business plan should also include developing progressive web applications for enhancing accessibility. A white-label VOD platform will aid in adding personalized features like social media login.
Live Video Streaming
Similar to traditional TVs, you need to provide content 24*7 via your VOD platform. Live linear feature can help in scheduling video content to be streamed 24*7. You will also need to consider simulcasting for streaming VOD content to multiple destinations. Including live streaming features like live chat, live Q&A, and others can aid in engaging with your audience actively.
How to set up a video on demand platform and distribute video content? Well, a CMS (Content Management System) helps in distributing video content to users from all around the globe. Your CMS should be easy to use for uploading video content in bulk. While launching a VOD platform, look for various CMS features like audio/video scheduler and multi-lingual support. Your VOD streaming service should also be able to support multiple audio/video formats.
Multiple Revenue Models
How to start a video on demand business and start earning? Well, you have to decide on a suitable monetization model for your VOD platform. You can go for the SVOD model that lets you collect payments via user subscriptions. You can also adopt a pay-per-view model that collects payments for individual video content. The advertisement VOD model is also used by publishers that collect payments for removing ad interruptions in between the content. Third-party ads can also be used by publishers to generate revenue via their VOD platform.
Compatible Video Player
How to set up video on demand that could fulfil the need of users with different devices? You need a multi-faceted video player that could cater to the needs of your audience. Your video player should be compatible with smartphones, PCs, connected TVs, and other devices. Your video on demand business will reach new heights as you can target a wider audience.
How to create a VOD platform that also protects your original video content? Well, you need to implement an effective DRM (Data Rights Management) system to protect your original content from piracy. You need to ensure some must-have security features for your VOD platforms like geo-blocking, password protection, access control, and AES encryption.
You also need a VOD platform that can provide analytical insights about your userbase. A live analytics dashboard is required that can provide dynamic data analysis reports. You need to know stats about stream data, user data, video quality data, and others. It will help you in developing business strategies for your VOD business model.
The aforementioned features should be included in your branded VOD platform. These must-have features will aid in attracting a vast audience to your VOD platform. Launch your branded VOD app now!