VOD or video-on-demand streaming services are in high demand among viewers for various reasons. Businesses take advantage of VOD platforms to generate revenue and connect with customers. They aim to monetize the content they share with audiences.
You can stream TV programs, live events, radio services, and VOD content as NimiTV does. However, in this article, we concentrate on video-on-demand streaming services as the high demand for them among viewers makes companies create more quality content and intensifies competition. As a result, people use such services even more. Let’s delve into that topic deeper.
Why Should Video Streaming Services Opt for Video-On-Demand?
A business can get many benefits from launching a video-on-demand service. Here are some of the most essential ones.
Monetizing your content
As viewers are switching to online video streaming services, you have multiple chances to find your audience and monetize your content. By obtaining the right software for video streaming, you can use three common monetization models and their combinations.
- AVOD (advertising-based video-on-demand) is monetizing videos via OTT advertising. In this case, a service doesn’t usually require a fee. But viewers watch ads instead, and you generate revenue by showing ads to your audience.
- SVOD (subscription-based video-on-demand) is selling access to videos for a limited period. You can allow people to purchase a monthly or yearly subscription. After the payment, viewers get unlimited access to content. They can watch it as much as they want.
- TVOD (transactional-based video-on-demand) – unlike subscriptions, it requires the purchase of every video on the service. When a viewer pays for one piece of content, the rest of the videos remain inaccessible.
These are three common models, but you can combine them to create something new. For example, major streaming services now introduce an ad-based subscription plan at a lower price so that viewers who are on a budget can afford it. They have such a plan along with an ad-free subscription that costs more.
Another example of hybrid monetization is the mix of TVOD and SVOD. For example, you sell part of the content on a subscription basis, and another one requires an additional fee.
Building trust with your viewers
VOD streaming can help you establish authority and build trust with your viewers. When you sell a product or service, people want to know that you are an expert in your field. You can ensure your authority by sharing quality videos on your service, showing your knowledge and expertise. It will help you build trust with clients, especially those who hesitate.
Many people also crave informational and educational videos from your field so that they can dive deeper into it and learn something new. A VOD service will help you with that as well. You create your content and upload it to the service.
Bringing convenience to your audience
VOD services are in high demand among viewers because they give them complete control over how they consume videos. VOD content is available at any time on any device. It means that people can watch videos whenever they are in the mood for it.
Moreover, the support of all devices allows viewers to choose where they are comfortable watching videos. They can watch content on a big TV screen in HD or on a mobile phone when outside the house.
Video-on-demand streaming services gained popularity among viewers as they bring not only convenience and flexibility but also unique content directly to viewers. They don’t have a fixed schedule and operate on multiple devices. Businesses, in turn, can benefit from that by creating original content and monetizing it with the help of video streaming software.