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Video has taken the internet by storm! From short videos on Tiktok to DIY tutorials on YouTube, VOD platforms are seeing tremendous growth. VOD segment is projected to earn a revenue of approx. $86 billion in 2021. Before we get into the nitty-gritty of video-on-demand app development let’s understand the basics.
What is a VOD App?
A media application that allows users to playback video content on-demand from a library list is called a VOD app. Some applications also allow live streaming. These videos can be streamed through any internet-supported device by simply installing the VOD app. VOD app development is simplified nowadays with the requirement of a no-code or low-code through an OTT solution.
Benefits of VOD App Development
With a user penetration of 2.2 billion in 2021, investing in VOD development looks beneficial. In addition to this, here are some compelling reasons to develop a video-on-demand app:
Applications are easy to use and come with consumer-friendly features. They can be accessed from anywhere and installed on any device. VOD stands for video on demand; this on-demand feature attracts consumers to VOD applications.
Variety of Content
Content is king in the VOD sector and an app helps access a variety of content from short videos to movies and series. For example, apps like Netflix, Prime Video and more are gaining popularity among consumers.
Watch on Any Device
Apps are easy to install on any device from smartphones to smart TVs. Thus, they’re convenient to use from any device and any place. This convenience attracts users to watch videos without restrictions or boundaries.
Ad-Free Viewing Experience
As this app is developed by you, you can offer an ad-free viewing experience to your consumers. Unlike VOD platforms like YouTube where you have no control over Ads, this can be customized according to the monetization model you choose.
VOD apps are developed keeping in mind ease of use. Thus, the features, controls and UI are built to match consumer expectations. This feature helps boost your consumer base.
Generate revenue by easily using the different monetization models available. You can choose what videos to monetize, the consumer tiers, and premium access to content. The control is in your hands.
Monetization Models for Video Streaming Apps
Subscription Video on Demand charges customers for a particular period. Subscriptions can be for a week, month, or annual. This gives consumers complete access to your video content for that particular period. SVOD has a market segment of $71 billion in 2021.
In this model, video on demand applications earn through advertisements. However, you can control what advertisements are shown in the app. You can also add affiliate links and control when the advertisements are shown to your audience.
Transactional Video on Demand works on a pay-per-view model where consumers are charged per video or access at one point. These are a great way to earn in DIY classes, professional coaching and more.
Must-have Features while Developing VOD Application
Customization is key when you’re developing a VOD app. This helps you boost your brand value and develop the platform according to the tastes of your niche and audience.
White labelling allows you to introduce the app as your own versus a third-party VOD streaming platform. This gets brand recognition and reduces distractions while viewing your videos.
Progressive Web App
Look for a VOD platform development service that allows room for growth. With the latest industry-inspired features and experts that will help you build an app that rivals the best. Third-party integrations also should be supported.
Video Content Management
A powerful Content Management System (CMS) is the backbone of video-on-demand development. A system that allows for a smooth upload, organization and streaming save time and effort.
Reliable Video Hosting
Hosting your content on a secure on-premise or cloud is essential. This helps you stream quality content to your audience.
Multiple Revenue Models
Earn higher revenue with dynamic revenue models that lets you monetize at your convenience. Whether you choose one model or a combination of two or more, the solutions provider should support you on this.
A video player that is compatible with any device and streams your content efficiently is of utmost importance. This experience will help you retain your consumers when high-quality content viewing has become the norm.
To improve your services and make your VOD application better, you need access to real-time analytics. This will serve you well in decision-making for your business.
From DRM to watermarking, security is of prominence in a VOD platform. Avoid piracy attacks by equipping your application with strong security.
In-app marketing from notifications to suggested content, ensure your application has enough features to promote your VOD content. This will boost engagement with your app along with more watch-time.
VOD streaming app development services can help you build a platform based on your requirement. You can drastically reduce VOD app development costs by hiring a VOD solutions provider. Most OTT solution providers are equipped to handle such requests with almost no-code development.