Do you think a subscription-based video-on-demand platform would be a good fit for you?
Subscription-based video streaming platforms are opening up opportunities for independent video creators, startups, and major service providers alike to launch their own services that could compete with Netflix, Amazon Prime and Hotstar.
However, before deciding if this venture is the right course of action for you, there are a few factors to assess.
- Firstly, do you have the necessary content library at least 50 hrs of video – as well as a portfolio of exclusive and valuable content to attract an audience?
- Secondly, do you have an existing fanbase on other channels or platforms which can then be converted into paying customers?
- Also consider your long-term content release plan and monetization strategy- subscription-based video or ad-based video or some other method?
- Lastly, do you possess the capabilities required in terms of production and distribution of videos as well as marketing?
If the answer to all these questions is yes, then it might be worth to consider investing in a subscription-based video-on-demand platform options.
Creating streams, streaming content and getting paid has never been easier. How to create a website for live streaming.
Subscription-based Video on Demand: The Trends and Statistics
With more and more people turning to live streaming as an entertainment source, its popularity has skyrocketed over the past several months.
The industry is projected to be worth a staggering $247 billion by 2027- that’s a 300% spike in viewership in just the first 6 months of the pandemic!
Live streaming videos have been proven to hold viewers’ attention many times longer than on-demand video content, while also boosting website traffic tremendously.
Additionally, sites featuring video content are now 50 times more likely to appear in search engine results than sites without them.
All signs point to this trend being here to stay – so what are you waiting for? Start your own live-streaming journey today!
If you’re looking to create your own video streaming service, there’s no need to reinvent the wheel. Various streaming technology providers are available that make it easy for you to get up and running with your video library. All that’s required is a server located in a data centre, where you can upload your videos ready for streaming.
Looking to protect your videos behind a DRM platform? You will need a media player, a Content Delivery Network (CDN), and an ideal DRM solution. These components work together to enable smooth streaming of high-quality video content while preventing unauthorised access and downloads. Employing a reliable video DRM platform is essential if you want to protect your digital media and make sure that only those who have paid can access it.
What Are The Different Types Of Streaming Services?
1. Streaming Video On Demand(VOD)
2. Video Live-Streaming / Broadcasting
3. TV Live-Streaming
4. Audio Streaming
Steps To Start Your Own Subscription-based Video on Demand Platform Like Netflix?
Want to start your own Netflix-like video streaming service?
Here are the essential steps you need to take:
- Analyze your target audience,
- Know your niche, acquire content,
- Find a unique selling point (USP),
- Decide on your revenue model,
- Select an apt video streaming solution,
- Research app requirements for streaming, and
- Make sure the platform supports any device.
If you’re looking to launch a live on-demand streaming service like Netflix, there’s no need to reinvent the wheel. With expert help and guidance, you can develop a reliable product or service that’s tailored to your target market, saving both time and money. In today’s world, it’s more important than ever to think innovatively in order to stay ahead of the competition.
Why Should You Use a Video-on-Demand Subscription Platform?
This is a successful full strategy for you if you create subscription-based services for the monetization of your app to the success of the video-on-demand business. Subscription video-on-demand services are a successful business model for others. You can sell your video content and make money through video-on-demand services.
According to the global OTT sector report, the number of video-on-demand services in 2019 was 280 million, and now in 2023, it is 420 million, and this number continues to rally upward.
By using SVOD, you can
- To increase revenue
- To broaden the audience
- To establish a brand
If you want the brand-value market to have a distinct identity like Netflix, Amazon Prime, etc., then you have to create your subscription-based video-on-demand model, which includes better technology and features.
Before you start building the video streaming service, make a proper plan to succeed in the competitive video business. There are two broad aspects to be considered:
To build your subscription-based model:
If You are creating a subscription-based model then you think about some major points for the success of your business.
Plan for your content
- What kind of content will you offer your audience?
- Who is your audience?
- have any partners with you for your channel?
In addition, some impotent features are supported:
- Content Management System
- Content delivery network (CDN) support
- manage video content
- focus on video-on-demand services
- cloud Hosting
- Video player
- Security
- Search
- offline access
So what’s your call now?
According to Forbes, “subscription-based video streaming” is one of the biggest digital markets, and no doubt most people watch videos on OTT platforms like Netflix and Amazon Prime.
Conclusion
Today, the entertainment industry in Bollywood and Hollywood and most of the country, according to their religion, invest in video streaming platforms and create their own video streaming platforms like Hulu, HBO, Sony, Hotstar, etc. for more profit based on monetization and customization.
You can create your own live streaming services with the help of a third-party service provider like Dacast, Uscreen, etc., but they charge high costs of about $18k to $30k, which is the most costly.
Flicknexs is leading the way to creating your own live streaming app according to client requirements with the best features and cheap prices that are easily affordable.
We provide the best services to monetize and customise your website hosting in an easy way and support high-end security. We provide CMS control, CDN support, multiple language support, quality control support, and many more features that you want in your live streaming service.
Click here to get started with Flicknexs SVOD solution with a 14-day free trial now!