Everyone dreams of being their own boss, having the freedom to work for themselves. If you're one of those and considering starting a business in the video industry, you're at the right place.
The pandemic has paved a new path for the video streaming industry. When people were forced to stay home in 2020, 232 million people in the United States watched streaming videos or downloaded them. This number is only expected to rise as more and more content is being created for OTT and other video streaming platforms in different languages.
Video Streaming Business Models
Before we tell you how you can start your own business in this domain, let's explore a few business models that you can adopt.
Transactional Video on Demand (TVOD)
In TVOD, users pay only for the content that they watch. It's also known as a pay-per-view model, where users don't have to pay for the content they don't actually consume. Some examples include Apple iTunes, Amazon Rent, and Sky Box Office.
Subscription Video on Demand (SVOD)
In SVOD, users subscribe to a streaming platform and pay a fixed amount according to the duration of their membership, regardless of what and how much content they watch. Some of the biggest examples of this model are Netflix, Hulu, and Disney+.
Advertising Video on Demand (AVOD)
The AVOD model provides free content to users and makes money through advertisements. The biggest example of this model is Youtube, where users can access free content but must sit through ads before, during, or at the end of the video.
How to Start Your Online Video Streaming Business
Once you decide what business model you want to go with, it's time to get to the actual implementation. There are certain technical aspects to consider while starting your own online video streaming business.
Application Programming Interface (API)
An API allows communication between two platforms. With minimum coding required for integration, you can use an API to provide the functionality you need without coding everything from scratch.
Software Development Kit (SDK)
SDKs allow you to build your code for different platforms like Roku, iOS, Windows, and Android. If you're present on all mobile platforms, you have a higher chance of success as the use of mobile phones has gone up by an annual average of 69%.
While Label Clones
With the increased demand for OTT streaming platforms and advances in technology, there are various white-label clones of popular platforms like Netflix available on the market today. All you have to do is get a licensed version of the clone and create your own website without the need of expert coding knowledge. And don't think of it as a copy—you can customize your platform as per your needs and provide a unique experience to your user.
What Kind of Content to Create
If you're confused about what content you can create for your streaming platform, here are some of the most popular areas where people are always looking for new content.
- Entertainment
- Education
- Fitness
Get Your Streaming Business Online
Starting a business comes with a lot of hassles as it is. If one of your main burdens can be reduced, and your video streaming platform can be created with minimum time and effort requirements, it leaves you room to focus on the other aspects of the business.
This is where we come in. With MAZ, you absolutely do not need to worry about creating your platform. You can set up the rest of your business, and we take care of your core product. Contact us today.