Online video streaming is incredibly popular because of the creation of VOD platforms. VOD or video-on-demand services allow viewers to avoid waiting until a video downloads on the device or starts airing on a schedule. These videos are available for playback anytime a user wants. This is what attracts people to them in the first place.
Companies and organizations realize the potential of VOD business. They understand that they give the opportunity to reach customers and capitalize on content production. Businesses also admire the success of large streaming services such as Netflix or Disney+.
In this article, we want to cover the benefits of a VOD service for any business.
Benefits of a VOD Streaming Service for a Business
Video-on-demand streaming services allow people to watch videos online without downloading them on devices. Viewers access content on any gadget they want whenever they want. It is an alternative to traditional television with its schedule and playback only on a TV set.
These opportunities create a demand for VOD among people, and businesses take advantage of this. Let’s explore the main benefits of VOD services for companies and organizations.
#1 Users like VOD services
We have talked above about why people turn to video-on-demand streaming services, but there is more to it. VOD services provide flexibility and convenience since viewers are in charge of their content consumption. They decide when, where, what, and how to watch.
- Content is available at any time. It allows people to forget about schedules and watch videos whenever they are in the mood for it.
- Content is available on any device, including mobile phones, TVs, tablets, and desktop computers. Such multi-platform capabilities allow people to watch videos anywhere they want. They can access content on the go on a smartphone or at home on a big screen of a Smart TV.
- VOD services usually have rich content libraries, offering viewers a wide range of videos for all tastes. Everyone can find a piece of content to enjoy.
- Video-on-demand usually means that people can watch videos however they want due to such features as pause, rewind, and fast forward. It allows viewers to take a break, skip scenes, or re-watch episodes of, say, favorite Albanian TV shows. They watch videos on their terms.
All these possibilities combined are what is so appealing to viewers. They control their content consumption, taking advantage of the freedom VOD streaming offers them.
#2 VOD services allow one to monetize content and grow a business
We should note that starting a VOD service requires particular software and hardware. You may develop your own solutions or obtain one of those the market offers you. With the right solution, you receive multiple opportunities to capitalize on content creation and grow your business step-by-step.
Firstly, there are multiple monetization models:
- AVOD – Advertising-based VOD. AVOD platforms are usually free for viewers, but they generate revenue by running ads on videos.
- SVOD – Subscription-based VOD. A content provider sells access to videos for a month, quarter, or year.
- TVOD – Transactional-based VOD. TVOD services allow people to purchase viewership of each video on the platform. While a person pays for access to one video, the rest content is still inaccessible.
- Hybrid VOD. It combines several models described above.
Alongside monetization models, software for video streaming has other features to help you generate revenue. For example:
- Applications allow you to reach as many devices as possible. When you provide applications, you offer viewers more convenience and flexibility since they are able to access your service wherever they are.
- CDN (content delivery network) helps you deliver content anywhere with minimal latency. Using it allows you to become a global VOD streaming service, influencing your revenue.
Your revenue also depends on marketing and content. So, don’t forget to invest in promotion campaigns and video creation.
VOD services are in demand among viewers, and it doesn’t matter what content they offer: entertaining, educational, or news. People crave content, and they stay on the platform because of content. So, companies and organizations can create unique videos to capitalize on them further. Also, with the right software solution, they will be able to generate and increase revenue.