How to Build a Powerful Video On-Demand Platform in 2023?

The future of video is here, and you can be part of the revolution by building a powerful video on demand platform. Video on demand platform is nothing but an individualized content delivery system that enables viewers to watch videos at their convenience. 

Video on demand platform is a growing trend these days. A lot of people have started making videos to promote their products and services. And they want to sell their content online. Some people even post these videos on their personal websites while they promote it within their social media profiles. While this works great, it takes time from you in order to build this platform.

Companies from a variety of industries monetise their content libraries. Yoga and fitness clubs sell training and workout videos. Educational institutions use the internet to disseminate their expertise to the rest of the globe. VOD platforms are used by governments to increase transparency for their constituents.

VOD platforms help businesses increase their revenue and communicate with customers.

Are you thinking about starting your own VOD platform? You’ve arrived to the correct location! But first, let’s define VOD platforms and what you’ll need to build one up.

What is a VOD platform?

Viewers can access videos stored on servers using a Pre-recorded video material is always available on any device, including Smart TVs, iPhones, cellphones, tablets, and desktop PCs.

It is accessible via a website or applications tailored to various devices. The VOD platform supplier has the option of having both.

Often, on-demand streaming platforms offer amusing or instructional content. By providing material through a VOD network, a company not only gets additional cash but also builds a relationship with its consumers. As a result, companies strengthen their bonds with their target audiences, and consumers gain access to the content they require, creating a win-win situation.

What are the benefits of Video-On-Demand platforms?

Video-on-demand providers can greatly benefit from sharing their skills and knowledge with viewers by streaming movies and programmes. Let’s take a closer look at the advantages of VOD platforms.

#1 Brand awareness

Any company can benefit from brand recognition. Businesses increase the appreciation of their products and client loyalty by making the brand identifiable and associating it to favourable perceptions.

A VOD platform is a tool for getting in touch with your audience and shaping the perception of your brand in the proper direction. With the use of VOD streaming, you may establish which connections you want your firm to evoke and instill them.

A high degree of brand recognition is likely to boost sales and allow you to gain market share. For your VOD platform’s brand awareness to be effective, your viewers should be able to contact you easily.

#2 Monetization

VOD platform providers make money by streaming material to viewers. The following are the three most frequent monetization models for VOD platform solutions:

  • Advertisements (AVOD)
  • Subscriptions (SVOD)
  • Pay-per-view (TVOD) 

A company can choose one model or use a hybrid method to integrate many. For example, provide customers the choice of purchasing a subscription or paying for one movie at a time. It is a hybrid of SVOD and TVOD formats, however what works best for your organisation may be different.

#3 Online community

When you communicate with viewers successfully and share good material, you foster their loyalty and make them into regular users.

You may strengthen your relationships with your viewers by using a VOD platform. Utilize this opportunity to interact with them through comments and videos, to listen to their criticism, and to respond to their inquiries about your products. When people are heard, they feel valued.

Establish trust with your target audience, and they will back your brand. In other words, you will build an online community around your household name, which will help you increase brand awareness through word of mouth.

#4 Convenience for viewers

VOD platforms are popular among video content fans because they are simple to use. The trend of cutting the cord on cable or satellite TV began with the introduction of more flexible internet streaming alternatives.

To watch their favourite material, viewers only need an internet connection and a suitable device. People no longer have to wait for a video to air and can choose what and when they want to view. There are numerous video-on-demand streaming systems available online for free or via subscription, which is frequently less expensive than cable.

How to Create a VOD Platform in 4 Easy Steps

1. Determine your target audience.

Defining your target market is a critical component of every organisation. Knowing who your readers are and what they appreciate can help you direct your marketing efforts and budget towards profitable actions. This saves your company money on unneeded charges.

Determine which channels your target audience may use and focus on them.

Begin by asking yourself the following questions about your product: what problems it solves, what it provides to your visitors, and who these problems affect. Next, consider how you may provide a distinct advantage over your competitors.

Launch your marketing efforts and target potential viewers once you’ve determined who will benefit from your service or product.

The more you understand about your target market, the more effective your business will be.

2. Plan and create content

It is critical to develop a content strategy before launching a VOD platform. You must make defined and attainable goals.

Choose the videos you want to make and write scripts for them. Consider how much time and money it will take to generate them in-house vs hiring a team of pros. Ensure to include a list of the equipment required to launch your VOD platform.

When launching a VOD platform, it is critical to have a clear idea of what you require and want to perform. An ideal case would be to have a batch of pre-made movies so that your service can offer a variety right away.

3. Create a VOD platform.

Consider your budget before developing your video streaming platform. It will determine whether you should construct your own VOD platform from start or locate a ready-made solution like the ones provided by Setplex.

If you’re planning to build your own VOD platform, consider it through thoroughly. Employing expertise, designing, and producing will almost certainly be expensive and time-consuming. One significant advantage is that you will have a product that meets all of your needs.

If you’re starting from scratch, be prepared to invest in a lot of time and effort on security. Whether you broadcast your own content or purchase licenced videos, you must keep the product safe from unwanted access.

You are considerably less likely to encounter security issues if you purchase a VOD solution designed by a business that specialises in it, such as OTTFast. Developers of VOD solutions carefully evaluate potential problems that a content provider may face and take precautionary steps.

Purchasing a complete solution saves money and time. Furthermore, a VOD platform provider may assist you with the launch, customization, and operation of your platform.

4. Choose the appropriate monetization approach.

Selecting the best monetization strategy for your VOD business is critical. It will specify how your viewers will gain access to videos. Here’s a quick rundown of your choices.

  • Advertisement-supported VOD (AVOD) – customers watch your material for free. You make money by running advertisements during video playback.
  • Subscription-based VOD (SVOD) – viewers pay a monthly or yearly subscription and gain access to your material for the duration of the subscription.
  • Customers pay for a video they want to watch now or in the near future with transactional VOD (TVOD).

You can also combine many models and provide viewers with several payment choices. Let visitors to purchase a subscription and watch videos without commercials, or watch videos with adverts but for free.

OTTFast is the market's only end-to-end platform for launching an OTT video streaming business.

#1 White-label VOD platform

OTTFast enables content providers to effortlessly change every aspect of the platform interface to reflect their branding requirements.

The OTTFast R&D team delivers industry standards and customised guidelines to make their clients’ platform interfaces excellent and simple to use. Our customers’ users will be pleased with every interaction they have with Nora middleware.

Change the following:

Main menu – Customize all aspects of the main menu, including the backdrop and icons, to match your brand’s look.

Applications – Design all platforms where your clients can watch videos, including Smart TVs, mobile phones, and tablets.

EPG – Customize the colours of the EPG tabs and the background interface.

Live TV – Modify the positioning, colours, and logo on the info bar for live TV.

On-demand – Change the colours, images, and movie cover demonstration, among other things.

Channel List – Change the colours of the EPG tabs, placement, logos, and backdrop interface in the channel list.

#2 End-to-end solution

We provide a versatile end-to-end video streaming solution that includes:

  • IPTV/OTT Middleware
  • OTT Applications
  • Encoder/Transcoder
  • CDN Solutions
  • Security (DRM)
  • Ad Monetization
  • API Integration
  • OTT Analytics

We provide all of the components needed to develop a full IPTV solution, including on-premises and cloud implementations.

#3 AVOD, SVOD, and TVOD monetization models

Employ one of our pre-built monetization models or a combination of them. With SSAI technology, monetize your live TV channels and video-on-demand content with dynamic and precisely targeted video advertising. We offer artificial intelligence to recognise commercials/breaks, insert SCTE markers, and stitch-in adverts.

We create a solution to assist you in generating cash and growing your business.

#4 Security/DRM

Our solution has its own level of security. Widevine, FairPlay, and PlayReady DRM (Digital Rights Management) will safeguard your videos against piracy, illegal access, and authentication. Additionally, the CDNs of our partners will protect your VOD platform from DDoS attacks.

#5 Recommendation engine

OTTFast has substantially invested in a recommendation engine, combining AI (Artificial Intelligence) and ML (Machine Learning) to give users with best-in-class content suggestions and discovery, ensuring a prolonged view duration and lowering churn.

#6 Customer support

OTTFast offers an end-to-end video streaming solution to content makers from a variety of professional disciplines. We make significant investments in developing and improving our VOD service. Our developers are continually working on adding new features and improving the platform’s performance.

Visit the OTTFast quotation page and tell us about your project. One of our sales representatives will contact you to discuss platform alternatives and price.

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