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What is Subscription Video on Demand and why is it so popular?
What is an SVOD platform? This is a question that is asked by most people who wish to start a business in video subscription services. A Subscription Video on Demand or SVOD is a service that allows you to grant people access to a library of video content for a subscription fee. You have complete control of the library and by doing this, you can generate a lot of revenue on a monthly or yearly basis.
Netflix and Disney+ Hotstar, two extremely popular SVOD platforms, are responsible for almost 78% of the total market revenue of the video subscription business. Therefore, total users of SVOD are bound to reach 1418.6M and revenue can go up to $108,306M in the next four years.
Understanding the Importance of SVOD Service Business
SVOD platforms are in great demand as they offer better content than television programs or other means of viewing video content. The business of video streaming subscriptions is going to peak in the coming years and annual growth of 11.04% is expected in revenue. This is, therefore, a very lucrative business.
If you are wondering how to sell subscription services online and whether it will actually work, take a look at the number of people who subscribed to SVOD platforms. Users increased by 14.3% this year and the average revenue that comes from a single user is expected to reach $66.29. With people staying and working from home, VOD platforms are the major sources of entertainment. Due to such demand, many films are being released directly on these platforms.
How can a professional SVOD business platform help?
A professional video subscription service platform can be really helpful to launch a successful online video streaming business.
There is only a one-time cost involved in professional SVOD. Once it is launched, you will be generating significant revenue. There are various reasons why these are a great choice:
With a professional platform, you can easily do live broadcasts and provide exclusive content to users.
A professional video subscription service platform complete customization. You can curate content that will attract new users and keep loyal subscribers.
Professional SVOD platforms are easy to set up. With the right technical skill, you can introduce progressive web applications for better viewing and even enable login through social media.
Content Management System or CMS is available with professional SVOD platforms. You can easily manage all content and user information with this software.
Professional SVOD allows you to customise the video player. Introduce your brand and provide a video player that will offer the best video quality and convenient streaming.
Data analytics can be used in professional SVOD platforms to manage content and understand viewer trends. This will help you provide better content and bring in more subscribers.
Absolute security is assured in professional SVOD platforms. User information will be protected and there is no possibility of content theft.
12 Advantages of Subscription VOD Platform with a Professional Service
There are many benefits to launching a subscription selling platform. With a library of video content with a video on demand platform, you can easily run a successful content subscription service business.
Read on to find out what the top advantages are.
1. Dedicated Audience
A subscription content platform will have a dedicated audience. The subscribers who join the platform will stay around for a long time, especially if you can offer exclusive content.
2. Easy to Use
Video subscription services are easy to launch. If you understand the market and the technicalities, you can customise the platform and make it better for all users.
3. Assured Streaming Quality
A streaming video subscription service will provide good quality streaming. This will attract new users and help you generate more revenue.
4. Exclusive Content for Subscribers
SVOD platforms depend upon subscription-based content. Since you have control of the content library, you can decide what content to offer for streaming. Subscribers can also be given access to exclusive content like live broadcasts and sporting events.
5. Easy Access
When you decide to sell video subscriptions, you can make them accessible from both mobile devices and desktops. Such easy access will guarantee more subscribers. A video subscription platform that is available as an app and on web browsers, can be used by many viewers, without any hassle.
6. Round-the-Clock Customer Service
With an SVOD model, round-the-clock customer support is available. This guarantees that the subscription selling platform is functional at all times and streaming is possible at all times.
7. Convenient Streaming
Nowadays, people prefer a subscription-based service model. The main reason is that they can find specific video content and stream at any time, from anywhere.
8. Ownership
If you are selling a subscription service, you will have complete ownership of the SVOD platform. You can decide the content library and modify it. You can easily customise the platform, depending upon how the subscribers respond to it.
9. Stable Revenue
The SVOD business model is a great way of earning a stable income. As a seller, you can set up payment options for monthly or yearly payments. This guarantees you a reliable mode of generating revenue.
10. No Restrictions on Pricing
The SVOD model allows the owner to fix the pricing. This is because the content is exclusive to the SVOD vs AVOD platform. You can decide the subscription plans and even modify them over the years, especially when you add more content.
11. Tracking with Data Analytics
You can easily manage streaming subscriptions with analytics. Data analytics can be used to track user activity and predict content specific to a particular user’s preferences.
12. Complete Privacy
SVOD services ensure privacy. The content is protected from third parties, thus reducing the risk of piracy. User information is also protected. This also encourages distributors to invest in the platform.
Conclusion
Now that what is SVOD is no longer an unanswered question, you can invest in the business of video streaming. It is one of the best business models in the entertainment industry. Choose exclusive content and offer subscription video streaming to have a reliable source of revenue.
