You have probably heard of video streaming platforms because Hulu or Netflix are buzzwords. Viewers tend to cut the cord and purchase monthly subscriptions to access the content of these services. You know that video streaming platforms are popular not only for their content. However, it seems like it is one of the most important parts of a service.
People appreciate them because they can watch videos on-demand – whenever they are in the mood for watching a video. VOD streaming platforms offer even more advantages to users. But that is not the point of this article.
In this article, let’s concentrate on how you can make your own VOD platform.
How to make your own VOD platform?
Here are some of the questions to consider when creating a video streaming platform:
#1 On-premise or on-cloud
When launching a VOD platform, you will make a lot of decisions. And deciding which side to take between the on-prem vs. cloud deployment dilemma is one of them. You should choose the option that matches your goals.
Deciding whether to go on-premise or on-cloud is a crucial issue. The decision will define how you will control servers storing your data and how much money you will spend on that.
So, do meticulous research and make an informed decision.
#2 Monetization model
Video streaming platforms are created for businesses so that they can generate more revenue from their videos. There are three monetization models that providers often use.
- AVOD. It is an advertising-based video-on-demand platform. It is a kind of platform that viewers like because it offers content without a fee. Usually, ad-based services earn money by allowing third parties to advertise on their platforms.
- SVOD. It is a subscription-based video-on-demand platform. It is the most popular one due to Netflix, Hulu, and similar services. People purchase a subscription once in a period of time and get unlimited access to video content. When the subscription period ends, they are free to cancel the subscription or purchase it once again and continue using the service.
- TVOD. It is a transactional-based video-on-demand platform. People can purchase access only to one video or a series of videos. The rest of the content remains inaccessible. It is also known as a pay-per-view model.
These are the most common video monetization models. Choose the one that will help you reach your goals.
#3 Reaching people
What devices are you going to cover? What locations do viewers live in? These are important questions that will define the devices that your users will be able to use to access your VOD service and the location where your service will be available.
Applications can help you cover people who are using different devices and platforms, including Smart TVs, laptops, smartphones, and tablets. When you allow your viewers to watch videos on any device they have, you save their money and reach more people.
You will need CDN software to define from what locations (cities, countries, and continents) your service will be available. For example, you can allow only the US population to access your content or let people from all countries view your videos. It is up to you to decide.
#4 Marketing
Few people will learn about your platform without proper marketing work. You will need marketing to inform as many people as possible about your VOD platform.
Use channels that your target customers use. If you don’t know what they are, do research and find out.
Marketing will help you spread the word about your service. Use contextual advertising, SEO, social media platforms, and offline marketing channels to inform people about your content.
#5 Audience
It is probably one of the most essential questions to answer when it comes to launching a business. Who are your customers? What are their life values and interests? What would they like about your video content? Why would they watch it?
Understanding your audience is crucial. It can help you answer all questions we raised above.
Communicate with your audience through social media platforms or forums. Let them tell you about their needs and interests. They can provide you with ideas on what content to create further, which will simplify your life. You can also easily find what to enhance on the platform by asking people about that.
The deeper you understand your viewers and their needs, the better platform you can create.
Final Thoughts
Creating a video streaming platform requires a lot of work and effort. You need to think about content, viewers, the platform, marketing, and many other details. But after all, the video streaming service can be a profitable business, and you can make a fortune.
If you want to launch your VOD platform, we recommend you contact Setplex. They can provide you with a solution and help launch.
