In 2020, Disney+ Hotstar and Netflix made up 50% of Subscription Video on Demand (SVOD) subscribers in India and nearly 80% of subscription revenues. According to a 2021 report 2021, revenue from online video subscriptions rose by 142% in 2020 mainly due to the pandemic. SVOD revenues rose from $265m in 2019 to $639 million at the end of 2021. The majority of the investment is steered towards original Hindi content, with nearly 65% of full spending. Mobile-only subscriptions continue to grow over the next two years, also the medium has to face challenges from pay-TV services which is the conventional route.
In 2022, revenue in the Video streaming sector or subscription video on demand platform is expected to reach US $82.43 billion. Revenue will show a CAGR annual growth rate of 8.89%leading to an expected volume of US $115.90 billion by the year 2026. By 2026, in the video streaming sector, the number of users is expected to reach 1486.8 million users. Studies on the worldwide subscription video on demand or SVOD showed that income tripled between the years 2016 and 2020, rising from $17 billion dollars to 67 billion. Rapid growth is expected for the future, also by the year 2026, revenue will cross beyond $126 billion.
Subscription VOD Platform – Why You Need It
A Video subscription platform is helpful in broadcasting live events and super for live streaming as it delivers a faultless streaming experience also to the audience members on a branded platform. It is 100%customizable and you can decide what will go on the platform from downloading, and distribution to revenue making. It also provides top scalable options for customized servers on on-cloud or customer premises. Video subscription service platform– the progressive web applications take the watching experience to a completely new level with an app user interface and home screen accessibility regardless of the network speed. With a white-label platform, also you can improve visibility and value for the platform with the business logo. For a faultless user experience, customize the video player, technical features, brand name, and a whole lot more.
What It Takes Building a Subscription Video Platform
Since the last decade, the monopoly of cable companies has receded. People are favoring watching videos through online streaming platforms and video streaming subscriptions. In the video streaming market, high-speed internet accessibility and the availability of high-value video on demand services are expanding the growth of the streaming market.
Plan the Content
What kind of videos will you present to the audience to engage and entertain? Who exactly is the target audience? Is there a partnership with other channels or people? What kind of video subscription services will you be offering?
When you answer these questions, it will give you a clearer picture of how to start and also from where to begin. On the basis of that, you can create your own video content library.
Manage the Content
Producing a video library is not such a big deal. Effective and high-quality video content management is the greatest challenge. You must assemble and categorize videos as per the genres.
Opting for the Right Business Model
There are quite a few options when reviewing video monetization choices. They are
- Subscription Business Model or SVOD model
- Transactional Business Model OR TVOD
- Live Pay Per View
Choose a solution provider
You should opt for a good streaming service provider who will give you a faultless video experience on the streaming video subscription service or SVOD model. The quality of viewing should be good and also always choose a good solution provider.
Your VOD Platform – How to Increase Your Subscription Base
Know the power of free trials –
- For customers, a lot of key elements are essential for a subscription video streaming OTT platform service. Content and convenience both matter a lot. Viewers can watch what they also want to and when they want to.
- But the other primary reason viewers are thronging in for the SVOD business model, in particular, is the option of joining for a limited time period at zero cost – absolutely free service. Want to know more about what is SVOD platform?
- VOD Platform was developed using a free trial model; simply join up, acquire a predetermined number of days or weeks at no cost, and then pay for the membership.
Offer Bonus Content
- You can offer other content than the main content ie you can stream advertisements, new offers, trial offers, etc.
- This will increase your viewership as more people will want to know more about the bonus content
Cater across devices and platforms
- You can now stream the content across various platforms and devices.
- This makes it an all-around versatile platform
Offer subtitles and multiple audios
- It has the option of offering subtitles also for the content
- Multiple audio systems for the content
- Listening quality is also enhanced with a good audio system
- You can now stay updated with the latest product reviews and also information
- You will know more about recent movies and shows etc.
- You will also receive recommendations
- The price of the subscription is very reasonable
- It becomes very affordable for the end-user
- It is not very expensive and offers a range of benefits
The analysis of the data streamed makes it very user-friendly
VOD platform and SVOD platform delivers high-quality videos over multiple screens including Android and iOS on mobile and smart TV. You can now keep watching viewer behavior and engagement to increase also the worldwide audience range. On the OTT streaming space and SVOD services, you do not require a huge content library to get released but you do need a constant and regular content calendar of new releases to keep your viewers involved and entertained. Want to know more about what is SVOD? You can check online resources today.