The influence and growth of video-on-demand (VOD) have been nothing short of explosive. With billions of people connected to the internet, video streaming has become a booming industry, offering businesses a lucrative opportunity to capitalize on this trend. video on demand platform provider

Smart businesses, regardless of their industry—whether it be technology, fitness, marketing, or another sector—are increasingly monetizing their VOD content. Given the current landscape, investing in VOD content is a strategic move for many businesses.

As people stream more videos than ever before, this trend shows no signs of slowing down. In fact, by 2023, video is expected to account for 82.5% of all internet traffic. Revenue projections between 2023 and 2027 anticipate an annual growth rate of 8.77%.

Users typically engage with VOD content through various platforms such as video streaming websites, dedicated streaming platforms, or VOD websites. The sheer number of options available to maximize revenue through VOD is vast. This abundance offers excellent opportunities for creating your VOD website but also necessitates a deeper understanding of how to do it effectively.

As experts in VOD, we’re here to guide you. In this comprehensive guide, we’ll break down the essentials of VOD and its components. Most importantly, we’ll show you how to set up your VOD platform or even build a complete VOD business.

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Table of Contents

1. What is Video-on-Demand?
2. The State of the Video-on-Demand Industry
3. What Users Want from Video-on-Demand
4. The Role of VOD in Business in 2023
5. Benefits of VOD for Your Business
6. 9 Key Features of an Online Video Platform to Build a VOD Website for Business
7. How to Create a VOD Website in 9 Steps

What is Video-on-Demand?

Video-on-demand refers to a service or platform that delivers video content, typically through subscriptions, pay-per-view, or rentals. This method of content delivery has become ubiquitous, allowing users to watch videos whenever and wherever they want. It’s as simple as clicking a button or link.

Whether you want to incorporate video streaming into your existing website or build a complete VOD website from scratch, you’ll need the right tools and features from a professional video streaming platform. Additionally, a video monetization platform that meets your needs is crucial.

For businesses, common uses for online video include:

• Internal training, updates, and announcements
• Educational content
• Conferences and events
• Entertainment

Given the growing popularity of VOD, now is the perfect time to leverage this trend. With a VOD platform provider, your streaming success can take a significant leap. 

The State of the Video-on-Demand Industry

The effects of VOD in the entertainment industry are profound. According to Conviva’s State of Streaming Report, the first quarter of 2022 saw a 10% increase in the usage of streaming services like Netflix, Hulu, and Disney+ compared to the previous year.

Streaming is now surpassing traditional television in popularity. Nielsen research shows that in 2022, streaming accounted for one-third of all TV time. Streaming is no longer limited to entertainment alone—education, fitness, and how-to content are all popular genres, with users willing to pay for access to this content. These niche markets are worth hundreds of millions and continue to grow yearly.

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The report highlights that viewers are watching more hours of content daily, with both live and on-demand content seeing increased viewership. This growth underscores the expanding VOD industry, where people are increasingly drawn to watching videos on their terms and are willing to pay for this convenience. video on demand platform provider

What Users Want from Video-on-Demand

With the growing demand for video streaming services, understanding user preferences is essential for success in the VOD industry. Users increasingly seek more personalization, accessibility, and portability in the content they consume.

Price is a major factor in choosing a VOD service. According to a 2022 Nielsen report, nearly 85% of users rank cost as “extremely” or “very important” when selecting a streaming service. However, other critical factors include:

• 81% prioritize ease of use—how quickly can they find and watch content?
• 79% value content variety—does the service offer a wide range of interesting content?
• 77% focus on streaming quality—is the video free of buffering and technical issues?
• 74% consider menu selection—how easy is it to navigate the interface?

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To create a successful VOD platform, offering a great user experience is key. This includes an intuitive interface, high-quality streaming, and a wide range of content.

The Role of VOD in Business in 2023

Entertainment companies aren’t the only ones benefiting from the VOD industry. Video has become an important tool for corporate teams as well.

The shift to virtual solutions in 2020 forced companies to explore new ways of using VOD for efficiency. While initially temporary solutions, many businesses have adapted to these virtual methods, finding them effective in the long run.

How to launch own OTT platform?

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For example, live streaming a business conference or creating a VOD website allows for a limitless number of attendees worldwide. This opens up more networking opportunities, idea exchanges, and revenue for event organizers. video on demand platform provider

Beyond conferences, CEOs are exploring how VOD can streamline internal communications, training sessions, and more.

Benefits of VOD for Your Business

Investing in a VOD platform can offer several benefits for businesses, including:

1. Building Trust and Credibility: A VOD platform helps establish your business as an authority in your industry, building trust with potential and current customers.
2. Informing and Educating Your Target Audience: As the demand for educational content grows, a VOD platform allows you to inform and educate your audience, keeping them engaged with your brand.
3. Showing Off Your Personality: A VOD platform is a great way to showcase your company’s personality, which can help build trust and connect with customers on a personal level.
4. Exploring New Revenue Streams: VOD platforms offer opportunities to generate additional revenue through subscription-based content, courses, and other monetization methods.

9 Key Features of an Online Video Platform to Build a VOD Website for Business

When choosing an online video platform for your VOD website, look for these nine key features:

1. White-Label Video Player: Customize the video player with your branding.
2. Simple Embed Process: Easily embed videos on your website or social media.
3. API and SDKs for Easy Development: Customize the video experience and develop mobile apps.
4. Cloud Video Transcoding Services: Ensure videos play smoothly on all devices and internet speeds.
5. Video CMS: Manage and organize your content efficiently.
6. Privacy and Security Features: Protect user data and ensure content security.
7. Range of Additional Features: Include features like SEO tools, subtitles, and more based on your business needs.
8. Video Analytics: Track and analyze video performance.
9. Multiple Monetization Options: Offer subscription-based, ad-based, and pay-per-view options.

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How to Create a VOD Website in 9 Steps

1. Identify Your Audience: Define your target audience before creating content.
2. Plan and Strategize: Develop a solid strategy and plan your content accordingly.
3. Produce Your Content: Create high-quality video content tailored to your audience.
4. Develop Your Website: Build a professional, easy-to-navigate website for your VOD content.
5. Understand the Difference Between Streaming, VOD, and OTT: Familiarize yourself with these concepts before uploading content.
6. Upload Your Content: Use a secure video hosting platform for uploads.
7. Embed Your Video Player: Integrate your video player into your website seamlessly.
8. Promote Your VOD Website: Use marketing strategies to attract viewers to your site.
9. Monetize Your Content: Implement monetization methods to generate revenue from your videos.

By following these steps and utilizing the key features of a robust online video platform, you can create a successful VOD website tailored to your business needs.