Since its inception, video-on-demand streaming, or VOD streaming service has taken the world by storm. VOD is currently the king of digital media. It is your best bet for getting it in front of your target audience.
Before we get into how VOD streaming apps work, let’s look at some of the VOD streaming statistics to get a better idea of how important VOD live streaming is.
- Video-on-Demand is the future of television (VOD). According to a recent report, video-on-demand viewing has increased by 155%, with an average session duration of 17.1 minutes.
- According to Forbes, 82% of US broadband households have at least one VOD subscription, with 46% having four or more.
- The overall video streaming app market generated $72.2 billion in revenue in 2021, and by 2026, it is expected to reach $115 billion.
- The most widely used paid-for app in the US is Netflix, whereas the most widely used free app is YouTube.
- According to the latest surveys, most audiences prefer video over all other forms of content. In addition to that, video viewing durations on VOD platforms have increased by more than 100% in recent years.
While the average demand for VOD streaming Platform is increasing, there are many unanswered questions about video streaming: What exactly is video on demand? How can VOD streaming services benefit businesses and content creators? How to get started?
You have good news here! In this blog, we’ve answered all your questions, and luckily, VOD online streaming is a lot simpler than it seems.
So, What is VOD Streaming, Exactly?
The term “Video-on-Demand,” or VOD, refers to a way of consuming videos via subscriptions, rentals, or purchases. In contrast to traditional television, which requires viewers to watch content according to a set schedule, VOD allows users to watch videos on their own terms and platforms. Some of the popular VOD streaming platforms include
- Netflix
- Disney+
- Hulu
- Amazon Prime
So, if you’re an independent creator or a company looking to use VOD, there are numerous on-demand streaming services available.
Video-on-Demand streaming services started with pay-per-view broadcasts of live events and movies over cable and satellite connections. However, with the proliferation of fast internet and mobile devices, it has now moved to the digital realm. We can now watch high-quality on-demand videos wherever we have access to fast internet, both at home and on the go.
How Does a VOD Streaming Platform Work?
VOD works in the same way that music streaming services do. It works by sending video content server data packets to your video player. VOD service providers generally monetize their video-on-demand content using one of two models: advertising VOD (AVOD) or subscription VOD (SVOD).
Viewers who use AVOD can watch their VOD content for free by viewing advertisements. AVOD is used when you watch on-demand videos on platforms such as YouTube, DailyMotion, Pluto TV, Xumo, and Crackle. Some of the factors that influence how much money you can make from a specific ad are its duration, skippability, interactive features, whether users click through the ad and take a conversion step, and how appealing your content is to advertisers.
AVOD is ideal for audiences who are unwilling to pay for access to your content. On the other hand, the money you earn from ad placements is likely to vary and is highly dependent on the algorithms used by the streaming platform at any given time.
The SVOD model is used by Netflix, Amazon Prime, Hulu, Disney+, and HBO Max. Users can get access to a large library of VOD content whenever and as often as they want by subscribing to premium subscriptions that are free of third-party advertisements. Some platforms, such as YouTube Premium, offer an AVOD-free version as well as an SVOD premium version with no advertisements (also known as Hybrid VOD Platforms.)
A large collection of TV shows, movies, and documentaries are compiled into a single location that anyone can access. Access is usually conditional, such as making payments through subscriptions or watching advertisements.
The Potential Benefits of Video Streaming Apps:
Some of the benefits of a video streaming app are as follows:
- Highly-Accessible
The great thing about streaming Video on Demand is that you can access it virtually anywhere. You don’t have to sit on your living room couch to enjoy your favorite shows anymore. You don’t have to miss anything while taking the bus to work, waiting for your order at the coffee shop, or driving on a family vacation.
- Compatible with All Devices
Only a few people travel with laptops or PCs. Therefore, your VOD services should be compatible with all types of devices. No matter where the viewers are, they must be able to access and enjoy video-on-demand streaming without facing any difficulty. It will benefit the participants because they can watch various videos on Smart TVs, tablets, mobile phones, laptops, and PCs from anywhere they want.
- More Convenient
Streaming video on demand is the most popular and effective way to promote your brand worldwide. You can stream your videos from anywhere in the world. Audiences from various countries and time zones can access the best VOD platforms or sessions. As a result, you can increase brand awareness and support it with simple videos for a global audience.
- Cost-Effective
When organizers need to share something new with the audience, video on demand could be the better option as it is less expensive than hosting a virtual event or live streaming. With the best VOD streaming services, you can reach a large audience at a lower cost and at any time.
- Brand Visibility
You can create a wide range of videos for each product and service, with a detailed description of its features and benefits. Attendees can watch, understand, and learn about your products by watching videos. Furthermore, it is everyone’s habit to watch a number of videos, read the provided content, and then compare the products. So, you can take advantage of this opportunity to attract the attention of a global audience to your products and services.
Conclusion:
Are you ready to build a video streaming app to reach your viewers on their mobile devices? If so, the process is very simple to follow, especially if you have someone on your team (video-on-demand platform providers) familiar with video streaming app development.
Making content available anywhere and on any device, VOD streaming software truly enhances the user experience for customers, converting it from a ‘can have’ to a must-have’ feature for a wide range of businesses and use cases.
