People are more and more seeking online video content. They no longer select traditional television like cable or satellite. Instead, they opt for more flexible and convenient online video consumption.
Since the demand is high, these white-label VOD platforms can bring huge revenue to content creators. They obtain ready-made solutions for running a video streaming service. These solutions usually offer diverse revenue-generating models. For example, AVOD, SVOD, TVOD, and hybrid are the most widespread in the video streaming industry.
In this article, we will observe the SVOD monetization model and how to make the most of it.
What is SVOD?
SVOD stands for a subscription-based video-on-demand. When a provider utilizes this revenue-generating model, viewers access content by subscribing to the platform or channel. They need to purchase a fee for access to the content library.
SVOD platforms allow people to watch videos on any device. Sometimes, a choice depends on the subscription plan a user chooses to pay. But sometimes platforms don’t confine viewers to several devices, allowing them to watch content on mobile phones, tablets, Smart TVs, or computers.
Subscriptions are one of the most popular revenue-generating models for companies and organizations. They are suitable not only for platforms streaming VOD but also for services delivering TV programming, such as TVALB streaming Albanian TV live.
The beauty of SVOD platforms is that they offer a variety of content for a small recurring fee. Since it is not very high, viewers subscribe to several services. According to statistics, around 85% of US households have at least one subscription. But the average number of subscriptions US viewers have is four.
Moreover, subscription-based services remove all ads, ensuring uninterrupted viewing.
Key Features of SVOD Services
To summarize, there are the following key features of SVOD streaming services:
- Huge content library – after a user pays for a subscription, they can watch videos available on-demand. They can enjoy content anytime, anywhere, without any limitations.
- Accessibility on many devices – SVOD platforms allow customers to stream content on any device, whether it is mobile, desktop, or TV. They don’t need to invest in buying new gadgets.
- Personalization – online streaming platforms can be equipped with tools for personalization. For example, an OTT recommendation engine tailors recommendations for users based on their viewing history.
How to Create a Successful SVOD Strategy?
To ensure that viewers use your service, you need to implement an effective SVOD strategy. Here’s what is important to consider:
#1 Learn your audience
Before you create content, you need to understand who your viewers are. This information may help you define the tone of voice, content plan, and marketing strategy.
#2 Choose the right OTT platform
The technology is one of the elements that can lead your business to success. Ensure that the solution provides a subscription-based monetization model to you. If you want to opt for a hybrid approach, it is essential that the platform offers such functionality.
Moreover, you will probably want to ensure a better viewing experience for users. If so, make sure your platform supports the adaptive bitrate streaming.
#3 Create a marketing strategy
Marketing will help you bring customers to your streaming service. After investigating your audience, you probably know what channels they use. You can start investing in them.
#4 Launch, analyze, and enhance
After you have laid the groundwork, you can launch your SVOD streaming service and get the first data on its performance and users’ impressions. You can identify its weaknesses and strengths so that you can improve.
AVOD, SVOD, and TVOD are widespread monetization models for content providers in the video streaming industry. They operate differently, ensuring various revenue results and experiences for viewers. SVOD allows providers to generate money by charging a recurring fee from users.