You’ve probably heard about SVOD if your business is involved in content creation or media streaming. But many people don’t know what it is or why it’s important to leverage it in an effective manner, by supporting it with a solid online video player.
What Is SVOD?
This picture above illustrates the VOD model – which is Video On Demand.
SVOD stands for subscription video on demand. This is a video streaming model where the content is effectively behind one general paywall. When someone subscribes to the service, they will typically pay a monthly fee which will give them access to the full library of video content.
Subscription video on demand is one of the most powerful media provider models currently operating, for the streaming of online video. This is the model used by some of the biggest video content streaming entities currently operating, like Disney, HBO, and Netflix.
With all of these services, the user pays a single monthly fee and is subsequently given access to thousands of movies and shows. The key is that they are given access to the full library, without any additional cost or ad-watching requirement.
The Potential Effects Of SVOD On Your Business
With some estimates projecting that the SVOD market will double by 2025, which means if you operate any sort of business that has the potential to need video content streamed, you should already be shopping around for an easily scalable online video player.
The subscription model has recently seen a 300% increase in subscriptions for digital news and media, which means it is prime time for many traditional publishing and news models to reinvent themselves as high-end content creators.
Benefits Of Leveraging The Right Online Video Player
No matter what type of video content you create and provide, you will need someone to essentially broadcast that content to your users. The challenge to this, however, is that your video player solution needs to be relatively robust as well as scalable. The right online video player will also have several other benefits for your business.
Scalability is one of the most important features that you can get in an online video player. You need to be able to adapt to the number of users requesting your content, and if you suddenly have a surge in demand without the backend infrastructure to handle it, it can be disastrous for your business.
The ability to dynamically scale to the demand is something that you should always look for in your online video player. This should also include an easy way to scale the number of licenses you need for accessing analytics and monetization functionality.
The Value Of Insight
The best online video platforms will also be able to provide immense amounts of data surrounding your video consumption. This data should not only be able to be exported to your own internal departments for analysis but should also be collated and presented by the platform in an intuitive and meaningful way.
By knowing the details about exactly how your video content is being consumed, and being presented with insights as to what is working and what isn’t, you will have a far greater ability to make effective decisions regarding your offerings. This gives you a much more valuable return on the time and effort you invest.
Effectively Monetize Your Video Content
By working with a video platform with versatile and simple ad functionality, you will be able to make your ad budget much more effective than previously. The best online video platforms will also let you retain all of the revenue you gain from monetizing your content.