People like choices. We get restless if we eat the same thing and wear the same clothes every day. The same is with watching something online. You wouldn’t like getting the same YouTube video popping up on your phone, right? With VOD platforms, you can add up the spice in your life.
According to a Deloitte survey, 53% of consumers watch movies because they value good storytelling and intriguing narratives. In recent years, Video-on-demand streaming platforms have driven content consumption and creation. These platforms have altered the way we interact with the media. They present creators and businesses with a wide assortment of business advantages.
In this blog, we’ll delve into the top benefits of video on demand, uncovering their potential in this dynamic era of digital entertainment.
What is a Video on Demand Platform?
We all like simple and easy-to-use applications that make us feel like it was made just for us. Most of the VOD streaming platforms have transformed the world of streaming services. Designed with user-friendliness, they empower content creators and viewers by providing a seamless and immersive streaming experience. These Video on demand platforms have rich features and an extensive content library, making them an irresistible choice for those seeking to make their mark in the digital realm.
Benefits of Video-On-Demand for Creators & Businesses
1. Taps a Global Reach
VOD platforms break the shackles of borders, allowing creators and businesses to captivate a global audience. With a click, content can reach viewers from every corner of the world, unlocking vast potential for exposure and global recognition. Gone are the days when content creators and businesses were limited to local markets. VOD platforms have shattered geographical boundaries, allowing creators to present compelling content to viewers from all corners of the world.
With the benefits of video on demand, creators can reach even an international audience with just a few clicks. According to Statista, the global VoD market revenue is projected to reach $98.39 billion in 2023, indicating these platforms’ extensive global reach and growing popularity. This global reach opens up a world of possibilities, allowing creators and businesses to gain exposure and recognition on a worldwide scale.
2. Simpler Content Production
Bid farewell to the days of complicated content production. VOD streaming platforms simplify the process, providing creators with intuitive tools and streamlined workflows. This allows creators to channel their creative energy into crafting compelling stories while the platform takes care of the technical intricacies.
VOD platforms provide user-friendly interfaces and intuitive tools that streamline the content production workflow. Creators can focus on their creative vision and storytelling while the platform handles the technical aspects, such as encoding and delivery. This simplification of content production allows creators to bring their ideas to life easily and efficiently.
3. Access Unlimited Content Library
Immerse yourself in an ocean of content! VOD platforms boast expansive libraries catering to diverse interests and genres. A survey by Hub Entertainment saw that 68% of purchasers log in to VOD platforms due to the wide assortment of content accessible. It implies many content options to binge, and you can continuously find something new and fascinating. It’s like having your movie theater with thousands of choices!
This wealth of content is an endless wellspring of inspiration for creators and businesses, guiding them to refine their artistic prowess and storytelling techniques.
4. Monetization Opportunities
VOD platforms unlock a treasure chest of monetization options. Creators and businesses can leverage subscription models, pay-per-view, or advertising to transform their passion into a sustainable income stream. The possibilities are boundless, and some reports indicate that the global market cap for VOD will reach $184.27 billion by 2027. This provides excellent opportunities for content makers to boost their creativity and get rewarded for hard work.
5. Direct Distribution
There was a time when you needed to have a set-top box installed at home to watch the movie streamed by the provider. Now you can say goodbye to them.
VOD streaming platforms empower creators to reach their audience without the middleman. You’d just need a stable internet connection and a streaming device. This direct connection fosters a more intimate relationship between creators and viewers, allowing for deeper engagement and feedback.
6. Content Control
Protect your artistic vision with unwavering control. VOD platforms enable creators to shape their content according to their artistic direction and values. From presentation to curation, every aspect can be fine-tuned to ensure the integrity of the work remains intact, forging a stronger bond with the audience.
Furthermore, video streaming platforms give creators the power to determine how their content is monetized. Creators can also choose the pricing model and monetization options and even retain intellectual property ownership. This level of control allows creators and businesses to make strategic decisions about their content and monetization strategies, empowering them to build sustainable revenue streams and protect their creative rights.
7. Audience Analytics
Some of the most popular VOD platforms use advanced algorithms that connect you to your target audience. After this, you can use various metrics like watch time and age group to optimize your content. It’s time to dive into the wealth of audience analytics provided by VOD platforms. Unlock valuable insights into viewership patterns, engagement metrics, and demographics. With this data, creators, and businesses can make informed decisions, refine strategies, and tailor their content to captivate their target audience.
8. Targeted Marketing
Leave a lasting impression with tailored marketing efforts. VOD platforms allow creators and businesses to customize their promotional campaigns based on viewer preferences and behavior. Statista revealed that 77% of marketers using VOD platforms found the ability to target specific audiences based on demographics and interests to be highly effective in driving engagement and viewership.
Targeted marketing increases the chances of attracting the right audience and driving higher viewership. Creators and businesses can capture their audience’s attention and foster a deeper connection by delivering content that aligns with viewer preferences. Targeted marketing enables creators to stand out and optimize their content promotion strategies.
9. Long-Term Revenue Potential
Unlike fleeting moments in traditional media, VOD platforms offer creators long-term revenue potential. Any content piece on a VOD platform remains accessible to viewers indefinitely. This means that creators can continue to earn revenue from their content long after its initial release. As viewers discover and engage with the content over time, creators receive ongoing financial rewards.
The long-term revenue potential of VOD platforms provides creators and businesses with a sustainable income stream. It permits creators to put resources into future ventures, extend their contributions, and make newer content. This monetary strength empowers makers to focus more on quality and build rapport with their audience.
Content remains accessible to viewers indefinitely, allowing creators to generate income from their work continually. It is an investment in the future that keeps on giving.
10. No Limitations to Devices
Most of us like watching something on our phones while we eat or do some work. As mobile users will reach 2.72 billion by 2023, it will open up the world to content makers.
VOD platforms liberate viewers from the restrictions of a single screen. Whether on smartphones, tablets, or smart TVs, audiences can indulge in their favorite shows and movies anytime, anywhere. This flexibility in device compatibility contributes to higher viewer satisfaction and engagement.
With video-on-demand platform providers, you can seamlessly transition between devices and enjoy uninterrupted viewing experiences. It also allows creators to reach a wider audience, as viewers can consume content on the device that best suits their preferences and lifestyle.
The power of video-on-demand streaming platforms is unmatched in the digital realm. As we’ve explored the remarkable VOD streaming benefits, from global reach and simplified content production to monetization opportunities and direct distribution, it’s clear that embracing VOD is a gateway to unlimited possibilities.
Content creators and businesses can take the plunge into the captivating world of VOD platforms. Unleash your creativity, captivate global audiences, and embark on a thrilling journey of success and growth. The future of entertainment awaits—seize it with the power of VOD streaming platforms!