Video-on-demand is a significant content format that can be delivered through the Internet. Live streaming and catch-ups are time-dependent, while VOD is available anytime. For this reason, video-on-demand content format is appealing to viewers and businesses.
With VOD, users have complete control over their content consumption: they are to decide what, when, where, and how they are going to watch. A business, in turn, has multiple opportunities to build relationships with customers and monetize its content. Let’s observe how you, as a content provider, can benefit from VOD platforms.
How to Benefit from Video-on-Demand? Tips for a Business
For a business, a streaming platform is a video monetization platform in the first place.
1. Applications for multiple platforms
Another factor that influences your revenue is the number of devices you cover. When you cover as many devices as possible, you reach more viewers.
People will have various preferences regarding how they want to watch videos. Some viewers would like to use a Smart TV with its high-quality image and immersive sound, while others would prefer mobile phones and the ability to watch content anywhere.
You can provide viewers with applications for various platforms and devices, including TVs, tablets, mobile phones, and desktop computers. They can enhance the quality of experiences and be more comfortable in use.
Thanks to technology, NimiTV viewers can watch Albanian TV shows channels across all European countries.
2. Monetization models
Usually, a VOD streaming service utilizes one of the following business models:
- Subscriptions: a viewer purchases monthly or yearly access to your video library. A subscription paid once gives unlimited access to all videos on the service within a particular period. When the period ends, users can cancel or renew their subscriptions.
- Advertisements. Often streaming services opting for an advertising-based monetization model are free for viewers. A provider generates revenue by running third-party ads on their videos. This revenue-generating model is usually called a win-win for all parties involved: customers view free content in exchange for watching ads during the playback, businesses make income, and advertisers reach their potential clients.
- A pay-per-view or a transactional-based VOD, in other words. Unlike subscriptions, a pay-per-view offers viewers to purchase access to each piece of content. This way, users may watch only one video from your library and leave.
- A hybrid monetization model allows a content provider to combine several approaches. For example, you can have two plans: an ad-supported subscription at a lower price and an ad-free subscription at a higher rate. This is what Netflix now offers subscribers. Another example of a hybrid model is a combination of subscriptions and a pay-per-view: you can divide your content into two categories: a group of videos available on a subscription and Premium content that requires an additional fee.
*Note that your capabilities will half depend on the video-on-demand solution you obtain or develop.
3. Content Delivery Network (CDN)
Content Delivery Network (CDN) is a network of servers distributed worldwide. It allows providers to deliver video content anywhere in the world, ensuring a smooth viewing experience. For example, it is possible to provide a seamless quality of service when delivering Albanian TV from Albania to the USA and Canada.
CDN stores cached copies of videos on edge servers. For this reason, even though an origin server can be located miles away, a user will receive a video quickly from the server closest to them. As a result, viewers get an uninterrupted experience enjoying your video content.
Drawing the Line
Video streaming services are a great business opportunity, especially with the right solution for its operation. Developers have already cared for your revenue by implementing multiple features for its boost. You can use any monetization model and grow your business with the help of applications and CDN. Moreover, you save time and can focus on more important things, such as content creation and marketing.