Video streaming has been our go-to resource for everyday entertainment. We, as the audience, found videos valuable and worth our time. The on-demand video popularity continues to boom and is predicted to have 2298 million users by 2026.
According to Statista, VOD business revenue has the potential to reach nearly US$98,686m by the end of 2022.
Videos have proved their ascendancy, especially in the business landscape where videos hold the title of a game-changer. The instant user engagement driving nature of business videos is the reason why every business wants to be a pro at VOD services. In this blog, we will discuss how businesses can be benefited by providing VOD services.
Top 5 Benefits of VOD services-
1. On-demand content drives engagement –
- VOD’s extensive content library has something for each user. With video content ranging from different genres to formats, binge-watchers always have something new to entertain themselves.
“When there is an option, there is an interest.”
- On-demand content is audience’s favorite because they can watch it anytime simply by surfing to the OTT platforms or simply googling it around, which is impossible in Live streaming. Live streaming instantly creates engagement, but the value of the content exists until it is streamed.
- To effectively use live stream content, businesses record their live streams and upload it on their websites as on-demand content. So even if users missed the live session or want to rewatch it, they can go to the business website and access the content anytime. This way on-demand content works towards a significant surge in website traffic.
Also read- How to Record a Live Stream & Why You Should Do It?
2. Multi-device compatibility expand customer reach –
VOD content is flexible towards being played over multiple devices like desktops, phones, tablets, smart TVs, OTT devices like Roku, Chromecast, and others. It gives the business a ready-to-use platform to advertise its services to an extended customer base who use digital devices.
3. VOD services are cost-friendly –
- The next advantage of VOD services is their cost-effectiveness over other streaming services. You don’t need any expensive tool/service to start VOD marketing. Unlike live streaming, which needs a dedicated setup and presenter to start with.
- Businesses, content creators, publishers, and broadcasters can use on-demand video marketing regardless of their industries. VOD content can be recorded by a simple camera and needs simple tools to edit and upload.
- With minimum investment, you get a global platform to introduce your business brand to audience groups.
4. VOD content monetization generates high revenue –
- VOD services allow businesses to monetize content as per industry demand, revenue plan and empower content creators to distribute their content at the right price.
- There are different types of VOD monetization models available like- SVOD, AVOD, and TVOD. Businesses are free to use any of these models or can combine the models to form their customized hybrid monetization model.
5. Track revenue and growth with analytics –
- VOD Analytics can be one of the most inspirational benefits of VOD services, that has convinced businesses to get their hands on it.
- End-to-end VOD marketing activities can be tracked through analytics services.
- Businesses can evaluate the analytics to track their revenue generation, investment, engagement, customer conversions, content performance through numbers of views, playbacks, watch time, subscriptions, and user details like names, email addresses, and geographical locations.
- By evaluating the performance of VOD content, businesses can effectively develop their marketing roadmap for future projects. Also, can target different regions where they are getting the most engagement to run marketing campaigns.
On-demand videos are on the trend and attract maximum user involvement. To drive website traffic and advertise business products/ services, organizations are taking the support of VOD services and are getting benefited from it.
VOD services are easy to use and can be implemented easily with the existing marketing models. Enterprise-grade OTT platform provider Muvi One is offering customers a ready-made, easy-to-use, open-to customization platform to run VOD business. Muvi One aims towards making it simplest for businesses to operate their VOD business and support zero coding knowledge for CMS operations.
To know more about Muvi One and its services, we request you to take a 14-day free trial of Muvi One CMS and start your own VOD business with zero investment.
Start your free trial now!