As we all know, the video monetization industry has grown in popularity in recent years, with more and more people hosting videos on their websites. However, with this growing demand for video content, you can find countless ways to monetize videos.
In this insightful blog, we will discuss what these SVOD platforms are (SVOD Meaning, SVOD Definition) and how to Create, Launch, and Develop a Subscription Video On Demand Service so that you can make informed decisions.
The best way to understand the true potential of video monetization platform is to look at the statistics. Here are some notable video monetization trends:
- According to Statista, VOD platform and SVOD streaming providers’ sales will increase by 11% globally.
- OTT subscriptions (OTT SVOD) are now available in 76% of US broadband homes.
- According to eMarketer, eight out of every ten smartphone users in the United States watch mobile video.
- By 2023, ad revenue from OTT SVOD streaming services will reach $129 billion.
- According to Streaming Media, the count of SVOD subscribers will increase from 199 million to 307 million by 2025.
First, let us define SVOD.
What Exactly Is a SVOD?
SVOD stand for subscription video on demand is a type of service in which users enter into a subscription agreement and pay a recurring fee in exchange for unlimited access to content.
Subscription Video on Demand is a thriving industry for a range of reasons. It allows consumers to pay for only the content they want, which is one of the main reasons why audiences are abandoning cable and other traditional providers. Furthermore, it provides businesses with a direct line of revenue from consumers without the need to consult with or sell to advertisers.
SVOD businesses can also use OTT platforms such as Roku, Amazon Fire TV, Apple TV App, and others to make their content more accessible than ever before. SVOD is an excellent solution for businesses having a dedicated audience willing to pay.
Recommended Read: SVOD Vs AVOD – Which Is The Best Monetization Model?
How to Build Your Own Subscription Video Platform?
The SVOD market is booming, with even faster growth expected in the coming years. These days, more consumers are willing to pay to watch premium VOD content online. Knowing the SVOD Monetization techniques, on the other hand, will help you build and launch a subscription video business right off the bat.
Here are a few crucial steps you need to consider to start a successful SVOD streaming platform.
Find a Niche and Set a Brand
Well, once you’ve decided to launch your SVOD Streaming Service, the first step is to find your niche and set a brand. Of course, this could include entertainment programs, popular television shows, stand-up comedy, and documentaries.
But why not try something different? Your platform’s specific features, and unique content, might become your punch line.
Create a Customizable Subscription Website
Next, you’ll need a newly built website to stream your longtail content, such as movies, television shows, and web series. It will enable you to market your handpicked videos to increase trial conversions and help you reach your goal of having loyal subscribers.
However, video streaming developers are required to build and manage your platform integration.
Get a Personalized OTT App
Over-the-top (OTT) apps are apps that deliver video over the internet. Unlike cable or satellite TV, OTT apps allow your customers to watch videos on their mobile devices (smartphones and tablets) and TVs whenever and wherever they want.
Video streaming apps are crucial aspects of a VOD and SVOD service, but they are also intricate. If you try to build your own personalized OTT app, you’ll face a steep learning curve unless you’re a developer.
Grab Your Subscription-Based Audience
Last but not least- you’ll need a subscription-based crowd. While SVOD channels do not require as large an audience as ad-supported channels, you must still generate revenue that exceeds the cost of maintaining your platform and content.
Building a large base of a subscription-based audience can be challenging, so your focus should be on identifying a core group of followers you can serve better than any other top VOD platforms.
Points to Consider Before Building Your Video Subscription Platform
When developing an SVOD model, there are some obvious factors to consider. However, if you plan to build a video streaming platform, it is best to know them in advance.
Here are a few things to Consider Before Building Your Video Subscription Platform.
Content is King
If you have high-quality content for online consumption, launching an SVOD service could be ideal. But make sure you have a sizable library to offer. It is also critical to include content across multiple genres and categories.
Manage Your Content
As a content distributor, it is your responsibility to manage your content and ensure that your audiences have regular access to new content. So, you should be financially ready to acquire or provide updated content regularly.
Choose the Best Business Model
Choosing the best video monetization platforms for a VOD business is critical – and it is not an easy task. SVOD is an excellent option for content creators who produce a large amount of content. However, finding the platform technology to build your service is the key to a successful SVOD streaming model.
Pick a Reputable VOD Solution Provider
If you decide to build a VOD service, learn what is VOD, and how you can find countless VOD solution providers on the market today. They’re all designed for specific applications, and each has its unique strengths and weaknesses. So, do some market research and compare available VOD options. If nothing meets your specific VOD project requirements, developing a custom VOD platform tailored to your needs is a good idea. What makes a difference is choosing the right VOD Solution Provider.
How to Launch the SVOD Platform With VPlayed?
Just follow the steps outlined below to launch the best SVOD Platforms for yourself:
- Identify a Niche and Position Yourself as an Expert in It
Developing a subscription video on demand platform by doing what you do best could be a great place to start. Producing content for specific audiences necessitates a thorough understanding of viewing trends and behavior. Finding a niche also makes it easier to develop your brand and establish yourself as an expert.
- Build a Custom-Built Website for Your Brand
A website with your brand promotes your business in the most organic way possible. The website must be scalable to deal with high traffic and be able to stream to users all around the world. However, to create a brand image, use customer-focused website copy that resonates with website visitors.
- Choose a Right Monetization Model For Your Business
The value of your content serves as the basis for determining the monetization model. Understanding your buyer persona and the demand for your content will help determine the best revenue strategy for your video subscription business. Before you ask them to subscribe, give them a chance to sample your work.
- Create a Mobile Application Strategy
Optimizing your website for mobile viewing and integrating mobile apps into your distribution strategy will allow your video subscription platform to reach a wider audience. In any case, you have chosen an AVOD ad-based model, then developing Android tv apps, iOS, and Smart TV platforms can even increase ad revenues.
- Market Your Platform and Integrate It With Social Media Platforms
Integrating your SVOD platform with social media is one of the most crucial aspects of marketing. By providing high-quality content and marketing strategy, you can get netizens to notice your video platform on their favorite social media platforms. Creating a subscription video on demand platform is only half the battle; getting it in front of the public is the other half.
SVOD is growing and shows no signs of slowing. While large brands will continue to dominate the market, there is still room for independent video content creators to carve their path to success in this thriving industry.
We hope you now have a better understanding of how to build your SVOD platform. In any case, if you want to launch a multi-device white label SVOD streaming platform but aren’t sure which video streaming service provider to use, we can help.
If You’re Ready To Incorporate Video Monetization Platform On Into Your Content Strategy, Get In Touch With Us Right Away.
Frequently Asked Questions (FAQ):
SVOD stands for subscription video on demand. It gives you the optimistic chance to monetize your long tile streaming content such as movies, tv shows, documentaries, web series & more. Most experts estimate that SVOD will continue to increasingly expand in the upcoming years as many businesses have started to branch out into this fragment in OTT.
Initially many streaming service providers offer free-trials to users, enabling them to watch videos for a week or so. Then when then trial perid gets over, viewers are charged with subscriptions. You can grow your business by delivering these genres of content completely-packed in a package & offer it on a monthly or yearly basis.
The biggest advantage of subscription video on demand is that, it offers complete freedom to users, for which content they want to view in the package with no restrictions unlike cable televised operators. Also, SVOD services have been increasingly popular they allow users to consume content on their own terms. There is no need for them to catch their favourite shows, all in a rush at home.
SVOD turns to be the most lucrative business model. It benefits content streamers to obtain value for each video content. Moreover, businesses get direct revenue & the opportunity to connect to their customer’s preferences that reflects their relationship. And, not only industry giants that opt SVOD, but also startups, enterprises, make good money by offering varied subscriptions periodically.
While you think of starting your own subscription-based VOD platform, it becomes essential for you to get advanced hosting platform, enable video encoding in different formats, secure content with preventive protocols, customize the video player, monetize your content via varied streaming models, & finally promote your videos to make sure it reaches the target audience.