Video-on-Demand (VoD) has completely changed how we access video content. Streaming services like Hulu and Netflix have become a vital part of people’s lives. Furthermore, the rising use of Smartphones and Smart TVs has increased the number of video-on-demand subscribers worldwide. Due to this, VoD App Development has taken the center stage for businesses in the Media and Entertainment Industry. And if you want to earn a high profit on this profitable market opportunity and explore its potential opportunities, this blog is for you.
- According to a Market.us study, people spend 32% of their time on streaming services. Likewise, 54% of them spend more time on these services than they used to.
- By 2027, the number of Video-on-Demand users is expected to reach 1,924.4 million.
- In 2022, revenue in the Video-on-Demand market is expected to reach US$94.88 billion.
- Video Streaming (SVoD) is the biggest sector, with a market volume of US$80.83 billion in 2022.
These statistics show us that the demand for online streaming services is increasing every day.
When you build your own Video-on-Demand app, you open the door to meeting all your customers in the right place and at the right time. Also, you can significantly expand your audience and build your video business.
In this blog, we will discuss – What is VoD, How to Build a VoD Platform, and the Significance of a VOD App in your Video Streaming Business.
Let’s Get Started!
Video-on-Demand App: The Future of Video Business
Traditional TV cable channels are a thing of the past now. The video industry is gaining traction and is poised to become a multibillion-dollar industry. If you’ve been thinking about growing your video business with VOD mobile apps and websites, now is the time.
But, What Exactly is VoD?
VOD (video on demand) refers to a content distribution platform that offers content via subscriptions, pay-per-view, and rentals. It enables users to view content whenever and wherever they want.
VoD Applications, in general, don’t follow the traditional distribution method in which you pay for channel packages.
Instead, your viewers will pay a one-time fee, known as SVOD (Subscription Video-on-Demand), to watch their favorite shows on their preferred device.
Overall, the accessibility and convenience of watching VOD applications from anywhere are causing a seismic shift in how users consume content today.
The Potential Benefits of VoD Apps for Video Streaming Businesses
To put it simply, a VoD app is the pinnacle for video content creators. You may wonder why.
Let’s discuss some of the benefits of VoD applications for Video Streaming Businesses.
# Attract More Customers With VOD App
There was a time when your content was limited to a specific period on TV stations.
Your viewers may have missed it. But not any longer!
With VoD applications, you can give your audience the chance to browse through all your content at their convenience. When viewers are no longer restricted to a specific time slot, they have more time to watch.
You can send them as many videos as you like, and they may watch them anytime they want.
# Boost Conversions With the VoD App
There are several benefits to having branded VoD applications available on various platforms such as iOS, Android, Android TV, Apple TV, Amazon Fire, Roku, and others.
Having applications on this network increases your brand’s visibility to prospective users while giving a better web-watching experience.
If the content you’re offering appeals to your target market, being present in app stores may help you get noticed. It might be about anything, such as health and fitness, entertainment, or education.
Viewers who find branded applications in the app store are 33% more likely to start a free trial than online viewers. In fact, two-thirds of those who sign up for a free trial become paying customers.
With a one-click payment option within your app, viewers can become subscribers with minimal friction.
# Use Effective Advertising Methods
This one is quite simple – you charge other businesses to display ads on your VoD platform. Product placements can also get included in the video content itself.
For instance: Let’s have a glance at YouTube. Their services are entirely free, but you must occasionally view ads in the videos. However, if you subscribe to YouTube Premium, the ads will not be shown to you.
# Segment the Audience to Improve VoD Service
If your VoD App includes content that cannot or should not be openly broadcast to all ages, you must notify your viewers.
Depending on the sort of content, such content is generally labeled as 14, 16, or 18+. You can also include a disclaimer.
Furthermore, you can inquire about users’ ages throughout the sign-up process and subsequently display relevant content.
Another excellent solution to address this issue is to have a “kids lock” or “kids account” option.
# VOD App Provides High-Quality and Competence
Attendees can binge-watch videos on demand with the association of the finest broadband speed at any time and from any location. They do not have to deal with buffering or any other issues that may arise with live streaming.
Furthermore, while live streaming, pictures or audio might be indistinct, causing problems for the viewers and forcing them to leave between sessions. However, with video-on-demand streaming, you can record a live session and modify the video and audio of the recording to stream it over the internet.
# Control Your Brand and the User Experience
To attract subscribers, tempt them with a free trial and provide valuable content. These factors are critical in promoting your service in the market.
The secret to a successful video streaming platform is to keep your audiences engaged. Giving your subscribers/viewers an engaging experience will keep them coming back for more.
Content creators can track all data and learn who is watching their shows using a branded VoD App/Custom VOD solution. In fact, you can keep a close eye on the most-watched content and use that information to develop more of the same to hold your viewer’s interest.
Video App Developers also provide comprehensive data on video engagement, revenue, purchases, users, view time, and much more.
Video-on-Demand App Development
Generally, there are three ways to build a VoD App for Video Streaming Business. They are
Method 1: Build it In-House
Method 2: Outsource Your OTT App Development Requirement
Method 3: Leverage a VoD Platform Provider
You can, however, choose the method that best suits your needs.
The Final Notes
A VOD app can help your video business reach a wider audience through multiple distribution channels. Reaching out to a video app developer will take care of your Video Streaming App Development/VoD Application Development, allowing you to focus completely on growing your video streaming business. If you’re an individual content creator planning to create a Custom-Built VoD App for your video business
