casino siteleri
BusinessInternet and Businesses

VOD Platform: How to Choose the Best Video On Demand Solution?

Since the Covid-19 outbreak, businesses around the globe have gone online. Work from home has become a preferred mode of employment to restrict commute and remain safe from the threat of the virus. People have switched to online mediums of entertainment due to limited access to offline mediums of entertainment. One of the prime platforms is video-on-demand as they are aplenty and made available at a reasonable cost.

What is a Video On Demand?

VOD platform is a content distribution platform that allows its users to watch any video on its platform at any time. The users can watch, rewind, fast forward and replay the video at any time and watch it any number of times. Users have to get a paid subscription to watch it on a video-on-demand app or website. According to Fortune Business Insights, by 2027 video on demand market will make profits of 159.62 USD/year. Compared to 2020, OTT platform users have increased from 23 million to 31 million.

What is a VOD platform? Why do you need it?

A video on demand platform is a location where a service provider hosts video content that can be accessed via a mobile app or a website. Education, business, and entertainment can all benefit from video-on-demand solutions. Educational institutions and independent educators utilize VOD platforms to host video lectures for their students.

VOD streaming platforms have become the next big thing in the entertainment industry. At the onset of the pandemic, movies could not get released in theatres as they have been for ages. Since all the countries were under lockdown alternatively, production houses of the entertainment industries started releasing their movies on the OTT platforms. This has now become the norm.

Content tailored to OTT platforms is being developed and released on the platforms. This has been well received by audiences all over the world, and the trend is expected to continue. For as long as the world will be battling the deadly virus and working from home, VOD platforms will remain the first choice for entertainment.

Advantages of VOD platform

There are several benefits of using the VOD platform providers for the users. It is convenient to use, cost-effective can be used on several devices at the same time, and has a wide range of choices.

  • Easily accessible

People from any part of the world can access any video-on-demand software as long as they have a device and a fast internet connection. VOD software can be used any time to view any video any number of times.

  • Cost-effective

Businesses can host their videos on any VOD solution to reach a wide audience at a competitive cost. Production houses also find it cost-effective to launch movies and web series on OTT platforms when compared to the movie launches in theatre. Entertainers find it more beneficial to launch their work on VOD premium to reach a large audience segment when compared to cable television.

  • Wide outreach

Since VOD is not restricted by geographical boundaries, the reach of audiences is much larger when compared to any other medium. Businesses can also restrict the viewership of their content hosted on the VOD platform to any geographic boundary. If the content is created for specific audiences, it can be targeted only for the intended group of viewers.

  • Laser-focused targeting and detailed analytics report

Businesses that host videos on VOD platform providers can also place ads on other videos hosted on the platform. You can target a specific group of audiences who consume content of a particular genre. Detailed reports with analytical details on the total viewers of the ad, total viewers who viewed the ad completely, those who halted the ad, and viewers who skipped the ad can also be extracted from the platform.

  • Reach wider audiences

In 2021, video streaming has a market volume of USD71,506. The average revenue per user (ARPU) is USD47.88 in 2021 in the VOD market. VOD users have increased by leaps and bounds since the onset of the Covid-19 pandemic. It is the right time for businesses to run ads on the OTT platforms. Businesses can target a different set of ads for different segments of users to capture the market and cater to audiences throughout the world.

Industries that can use the VOD platform

Several industries can use VOD platforms to expand their business. They are online tutoring, music, fitness, education, podcast, interviews, team building incorporates, soft skill training, healthcare, sports, film making, and religious services.

  • Fitness and healthcare

Experts can train novices on keeping their bodies fit through food, exercises, meditation, and other techniques. Having a healthy system is even more important when it comes to protecting oneself from Covid, which is why online fitness is becoming increasingly popular around the world.

Live streaming on the VOD platforms is most useful for surgeons to train interns, medical students, and junior staff about complex procedures. Live streaming also gives the surgeon and physicians a clearer view while performing procedures on a patient.

  • Movie making

The entertainment industry was caught off guard by the pandemic, and most professionals were out of work. This directed the workforce to concentrate on producing films for VOD platforms. Movies were created with the intention of being released on OTT platforms rather than in theatres.

  • Sports

Live sports broadcasting has been a huge success on VOD. VOD subscribers were prepared to watch live matches.

  • Online education

Schools and colleges have moved to online classes. Independent tutors and coaches also utilize VOD platforms to run recorded classes. Online training is a booming industry and it is predicted to register USD 374.3 billion by 2026.

  • Religious services

To follow social distancing and reduce public gatherings, religious services have turned to live stream religious services. This allows people from any location to attend religious gatherings.

How to choose a VOD streaming platform for your business?

When you are choosing a VOD software you need to know how to start a video on demand business, here are the factors to look at while comparing the best VOD platforms.

  • Multi-device delivery

Viewers use multiple devices across different locations at different times to access the same VOD platform with the same subscription. This also means that there would be varying speeds of internet connectivity so the VOD platform should ensure that the video stream plays without interruption on any device at any time.

  • Monetization and security

VOD is for entertainment; it is also useful in healthcare and diagnostics. This makes it all the more important to keep the data secure. Encryption, authentication, and digital rights management are what you should look for in the VOD software.

  • Adaptive bitrate streaming

Video quality is maintained using this function of VOD. Regardless of the software, device, and internet connectivity, the VOD platform streams the highest quality video content.

  • Reliable and scalable delivery

Content delivery network (CDN) is the most reliable and fastest way to deliver video content on VOD to viewers across the globe. This makes it for seamless video delivery for your business.

  • Flexible infrastructure deployment

Streaming server software should be able to accommodate the deployment needs of your business. Enterprises will want to keep their assets behind a firewall. If your business has any such requirement, check with the support team of the VOD platform to know what kind of deployment infrastructure they have to support it.

  • Publishing pre-recorded videos in live video format

Live streaming attracts a larger audience and encourages more interaction than recorded video. Businesses that want to interact with their audiences through live streaming events can do so by streaming pre-recorded video as live video.

  • Custom solutions

The VOD platform you choose should provide a custom solution to fit the requirements of your business. The nature, audience, and market of each business are different, only custom solutions can cater to the needs.

Conclusion

After reading this article, you know what is video on demand, why it is important and beneficial for your business, and how you can choose the best VOD software for your business. The industries listed above who can benefit from using VOD, it is worth checking out the VOD platforms and using a free trial to get to know the features. Once you’re happy with the VOD platform, you can contact customer service for a customized solution.

Meryem Rai

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

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button