Today many companies and organizations opt for video streaming solutions to provide their audiences with video content. Viewers use these services because of complete control over what, how, when, and where they watch.
However, a vital part of launching a video streaming business is selecting the right VOD solution, which can be challenging. Let’s give a closer look at video-on-demand software and its features. We’ll cover what you should pay attention to when choosing a solution.
If you want to create your feature-rich VOD service, we recommend you contact Setplex. The company can offer a solution to achieve your business goals.
Key Features of a VOD Solution
1. Analytics
Analytics is a powerful tool for enhancing your video-on-demand service. OTT data analytics provides you with a wide range of information about your service. You get insights into content performance, customer behavior, and preferences.
You understand your viewers better and can segment them. After that, it is possible to tailor experiences for them better. As a result, people like your service and use it more often because they get what they want here.
Tracking analytics may show you what videos viewers like the most and what content they almost don’t watch.
Generally, analytics data help you improve your service and scale.
2. Monetization
The majority of companies and organizations would want to monetize their video content. That’s why you need a VOD solution with monetization functionality. There are revenue-generating models to look for:
- Advertising-based Video-On-Demand or AVOD service – monetization videos via ads. In this case, video content is usually free of charge. A provider makes revenue by running ads on videos.
- Subscription-based Video-On-Demand or SVOD – monetization on a subscription basis. Viewers purchase a recurring monthly, quarterly, or yearly subscription to get access to all videos on the platform.
- Transactional-based Video-On-Demand or TVOD – monetization on a pay-per-view basis. Instead of paying for access to all videos, customers purchase the ability to watch only one or several videos on the service.
- Hybrid Video-On-Demand – a combination of several monetization models described above. You allow viewers to choose what purchase option suits them most. For example, trending hybrid monetization is a mix of advertising and subscriptions. Some providers offer viewers two packages: ad-based subscription-based VOD at a lower price and ad-free subscription-based VOD at a higher price.
3. Encoding and transcoding
Viewers will use different platforms and devices to watch your video content. It means that the solution must support multiple formats. That’s why the encoding and transcoding processes are crucial.
Encoding makes a video file transferable via the Internet. Transcoding allows the file to meet the technical requirements of a receiving device so that a viewer can watch it.
4. Control
The solution must be able to give you the most control over your video-on-demand service. Managing subscribers, billing, content, products, applications, and devices is paramount for a content provider. They can decide on monetization, device and content access limitations and permissions, and many more.
With the help of a VOD solution, you should be able to distribute videos anywhere you want. You should easily scale and improve your video streaming service.
Final Thoughts
With a VOD solution, you should be able to operate smoothly and provide seamless experiences to your users. It means that the solution should have multiple features for the control and management of your video-on-demand service.
Analytics and monetization are essential for the growth of your VOD business and revenue generation.
