SVOD Platform: How To Build and Grow your Video Business?
Video monetization has grown so popular in recent years that most people have begun hosting their videos on their websites to stream and allow users to watch them wherever they go.
There are a lot of ways one can monetize the videos via the on-demand platforms; let’s explore the best monetization model among them.
As the title of the blog implies, we’ll discuss the SVOD platforms and the surrounding things, such as how to set up, launch, and build a strong subscription list that grows an SVOD business.
I hope that in the end, you’ll make an informed decision on the best SVOD platform and monetization model to maximize the video streaming platform’s true potential.
Here are a few statistics that talk a bit about the video monetization platform and the notable video monetization trends:
- A recent study concludes that VOD platforms and SVOD streaming providers will witness growth of about 14% annually around the globe.
- About 76% of US homes have subscriptions to any one of the OTT platforms.
- Eight out of ten smartphone users stream live videos on their mobile devices.
- By 2023, the revenue made by these OTT SVOD streams will reach $135 billion.
To begin, what exactly is SVOD?
What is an SVOD platform?
SVOD is the most prominent kind of subscription model for a video-on-demand service. This segment allows users to enter your platform by accepting a subscription agreement and paying you a recurring fee every month or year in exchange for unlimited access to video content.
Subscription video on demand is now a thriving model that is causing havoc in the video streaming industry. Another advantage of the SVOD is that it allows businesses to generate direct revenue from consumers through a subscription window without the need for consultation.
Many OTT business giants such as Roku, Amazon Fire TV, Apple TV App, and others use the SVOD business model to excel in the video streaming business with all relevant features for launching one.
If you’re looking for a branded SVOD platform to use for selling/serving your videos to customers, there are a few key components to look out for:
They Spotlight Your Brand
Branded SVOD services, first and foremost, spotlight the brand of the video publisher, not of the video platform. If you’re looking at a platform like YouTube or Vimeo, while you can put your videos there and in some cases even sell them, these platforms are all about their brand, not your own.
They Don’t Resell Non-Branded Content
If a customer visits your branded channel, will he only see content from you, or will he see content from the larger platform? Looking again at YouTube, if watching a video, you’ll notice a lot of video recommendations that don’t come from the original author, but rather from people who have created “related” content. This is there to keep viewers consuming YouTube content, not necessarily the content of PewDiePie (for example).
The Platform Intelligently Works Around the Brand
If using an SVOD platform to sell access to video content, the platform will be running the same codebase on all other SVOD channels. Is that code smart enough to work with the data it’s given by you, or does it force you to work within its constraints? If you’ve got one video or one hundred videos, will it function properly? If you have one video author or 20, will it still look good? A lot of these platforms try to cram video publishers into a pre-defined content bubble, and that’s not really “branded.”
Video On Demand Platforms with SVOD business model And Services
Several VOD services are available today in different key areas.
There are several important components for the VOD services like a video server which provides access to the programs and supports various formats and functionalities.
iTunes Platform
Itunes is the most well-known TVOD platform for downloads. It is the largest platform that sells movies across the world with thousands of different titles. It has more than 800 million.
Users can buy or rent movies from the iTunes store which can be utilized on any Apple device along with PC and Mac devices. The platform is sharing its profits with filmmakers which made them earn around 70 percent of all VOD rentals.
Google Play
Google Play is an official TVOD digital content portal where users can purchase and rent movies through their smart devices. the platform has more than one billion active users every month.
Hulu Platform
Hulu Platform is another best-curated VOD platform that offers users to utilize a TV shows-related catalog that can be easily accessible by smart devices. It is a standard Ad support service with limited content.
Hulu Plus also offers both limited content with ads and without commercial ads for its users.
The users can also share the content across the social media platforms from their VOD platform. It is transferring its profit share of 50 percent to the filmmakers.
Netflix
Netflix is a well-known streaming service provider which offers a large library with diversified content for the users or subscribers on the platform.
The content on Netflix is accessible on a computer, mobile, and other television-connected devices also.
Netflix started its services in 2007 and at present serves more than190 countries across the globe.
Video On Demand Global Market Statistics
- According to recent survey reports, the Global statistical data reveal that more than 90 percent of people had stuck with their television, and an average time of 2.5 hours is spent on television watching daily.
- More than 65 percent of American households owned digital TV services in the year 2015. The audience had chosen more than 1799 TV stations.
- The video-on-demand market included pay-per-views and other video downloads including streaming media services.
- The Global VOD market reached about US$16 Billion in the year 2016. The Pay per view had shown great change towards growth.
- According to the present statistics, we can estimate that the video market can get an annual growth of around 9.2% by 2021. The survey revealed that the majority of VOD users are under age 34.
How to Use Flicknexs to Launch an SVOD Platform
There is no need for any hard work here; simply follow the steps outlined below to launch your best-in-class SVOD platform for your video business:
Identify your niche
Developing and producing video content is easy, but identifying and building your niche would be great to start with. So find your niche, which itself makes it easy to develop your brand in a short span without any hustle, and establish your brand as if you’re an expert.
Build a custom-built website for your brand
Any day, a website for your brand will promote it and bring in as many sales organically as possible. So, for millions of online video streamers all over the world, building a website for your brand that can scale and handle high traffic is critical. However, in order to attract a larger audience, you must have a custom-built website.
How to Choose the Right Monetization Model for Your Video Business
The value of your content serves you best when you give equal importance to its monetization model. Because the right monetization model will determine how you’re going to make revenue for your video subscription business. Also, make sure all your subscribers love your monetization, as those are the ones who build your brand and let that grow.
Integrate and market your platform on social media
Integrating your SVOD platform with social media is one strategy that makes you stand out among other non-social media engagers. Many searches prove that producing high-quality content and a social strategy would keep your audience aware of your videos on their favorite social media platforms. So be on social media to have better engagement with your video on demand platform, as it’s the only way to present all your video content in front of the public.
So, if you want to start a video streaming business with SVOD, learn what you need to know before diving into the entire path right here. Let’s check the important points before creating your video subscription platform.
Points to consider starting a Video Subscription Platform
Check the below pointers before starting developing your video subscription platform.
- High-quality content is king.
- Actively manage your content
- Select the Most Profitable Business Model
- Pick a reputable VOD solution provider.
Wrapping Up
So there is no doubt that the SVOD has grown significantly and will continue to grow in the future, as there is no indication that this trend will slow or reverse. While most of the big brands dominate the OTT market, there is still a chance for any business that comes into the video business realm. There is still room for video creators to succeed and thrive in the VOD industry.
I hope you got a better idea about the SVOD platform and how you can build and launch an SVOD streaming platform that helps you to monetize all your videos.
Ready to incorporate video monetization platforms? Then here’s the best SVOD service provider to get started right away!
