The pandemic accelerated the demand for access for premium online video streaming content. This has propelled the video streaming market to new heights as more consumers are choosing live or video on demand. Streaming subscriptions are expected reach over one billion in 2021, which will surpass pay-TV numbers. The growth is led by subscription video on demand (SVOD).
Now may be the best time to capture your piece of the pie by building own video streaming platform.
Let’s look at how you can build a video subscription site to boost your brand, increase revenue and attract new subscribers.
We can start with content. Compelling content, whether you want to entertain, educate or sell a product or service can help establish your business. Find your niche and start creating. Providing unique content can help to attract or retain subscribers. Based on this you can make your own video content library. Use the power of social media to attract new customers to your subscription site and promote your brand.
Find a technology partner who can help you launch your own video subscription website.
To be competitive and differentiate your business, your video site should have a best in class platform and features. Can your videos be optimised across different devices (i.e iOS, Android, tablet, laptop etc.)? Can it play broadcast quality videos? Is it easy to manage your video library?
Use the analytics to further refine your business strategy and target audience.
Identify a monetisation model that works for your video subscription site. Three common video subscription models are:
Understand your target audience. Look at the demographics and analyse the data can help you decide what type of videos to create to be engage with them. Keep up to date with end users behaviour and engagement through the analytics to magnify the audience range across the globe