Once a wise man said “You Stream it Like you Mean it”
DO you know how many people watch films online last year?
– 467 Million and at the same time, people who streamed videos on the VOD platform were about 1.5 Billion.
Alike other household commodities video streaming has become a part of households now. The personal theater once was a luxury and it has become a necessity through the concept of video streaming.
Thanks to the giant players like Netflix, Hotstar, Youtube, and others in the market who are the pioneers of new business models for building your own video streaming website.
For your reference, Netflix is about to hit an annual profit of about $558.9 million where its net worth has skyrocketed from $1.4 billion to an estimation of 3.7 billion. Twitch worths around $1 million dollars and YouTube worth between $26 billion and $40 billion.
Similarly, Hotstar’s second-leading video streaming platform which has around 7 lakh paid subscribers where its net worth is $265 million.
So, what would you say if you can create your own online video streaming platforms like Netflix, Hotstar, or YouTube?.
Before getting into the actual business strategy, you need to be clear with the business model that Netflix follows.
Netflix’s Business Model For a Grand Success
Subscription Business Model – The digital assets are the secret behind Netflix’s business model. Netflix follows a subscription-based video-on-demand model for generating revenue. The simple three subscription plans (basic, standard, and premium) propel it’s value to multi-billion dollar revenue. Establishing Novel content, TV Programs and In-house shows seek better demand among the viewers.
The cross-platform video delivery across multiple devices & operating systems is the major strategy for maximizing fan base. This is what made Netflix’s accessibility to a billion users.
Though there is plenty of video-on-demand service providers in the market accessibility of the content from any device (whether may it be a browser, Smart TV, tablet, mobile browser & mobile application) creates a difference.
Exclusive programs, award-winning shows, and some reality shows encourage users to subscribe to Netflix. Apart from the third party publishers, Netflix encourages in offering a master of none and some in-house shows which you can’t find on any video on demand platform. This native content adds credibility to Netflix’s growth.
Though Ads are another source for generating revenue for Netflix. A complete Ad-free feature lets users and independent publishers browse content, this includes a premium subscription.
So, with these ideal business models, Netflix generates a good number of profit. Coming back to the scenario of building a video streaming website like Netflix is no more impractical.
Utmost Customer Experience
Netflix provides multiple customer services that enable its customers to reach them instantly and get a response in a short time. Netflix customer services focus completely across platforms and mediums like Email, Live chats, Social media, and telephony.
One Platform, the Entire Globe
Netflix is available in more than 190 countries and broadcast content in more than 20 global languages. No matter where you are, you can access Netflix irrespective of language and devices, it’s one of the widespread OTT platforms in the market. The global expansion of its content is the greatest success of Netflix.
Pricing Fact Matters
Netflix follows a low-price and high-revenue philosophy. Netflix turned out to be an affordable streaming platform that ensures the entire family to enjoy the taste of every streaming content. Their strategy is to maintain the price of a single package as much as low in result creates a huge volume of subscribers.
How to Start a Video Streaming Website Like Netflix, Hotstar?
There are a number of video streaming platform providers available in the market who create a website like Netflix effortlessly. Before getting started, let us begin with some well-drafted strategy that you should be clear with it.
1. Plan Your Content
How you are going to engage and entertain the users within your niche with the help of the best VOD platform providers is highly essential. Creating the content based on the targeting audience is an integral part of your video streaming business, in fact, the foundation too.
Before going to start, you should consider the key factors in what customers will expect from your video streaming website like Netflix.
- Will you partner with third-party publishers or will be of original content?
- Will your videos be a series or one-off episodes?
- Which business model you are going to choose?
- Will your videos be available for free or only for subscribers?
- What method of subscriptions you will follow?
2. Video Hosting
As scalability is considered as one of the success factors of video streaming business, you need to be clear on choosing to host whether on-cloud or on-premises. Your valuable video assets need security where on-cloud hosting is dependent on third-party services and on-premises is guarantee within your hands.
3. Choose Ideal Platform Provider
Settling the heavy lifting to an ideal video streaming solution provider is great but choosing the one will decide your success rate. Most of the solution providers in the market offer a different set of video streaming functionalities and features that may or may not adapt to your business model.
To all the unanswered question on “how to create a video streaming website like Netflix, Hotstar, YouTube, here comes the video streaming solution provider to Global enterprises. Introducing Vplayed, an online video streaming solution provider headquartered in India entitles content owners, publishers, independent publishers, broadcasters to build a video streaming website like Netflix, YouTube.
Vplayed: The Frontier in Video Streaming Solution Market
Vplayed offers a complete package of hosting flexibilities (on-cloud or On-premises), customization, unlimited video upload, reliable content management system, sublime features, and multiple monetization models. Let us dig deep into the video streaming solution provider to understand how your business can benefit from it.
Noteworthy Features that Vplayed Offers
Video Content Management
Vplayed simplifies video uploading by single a drag and drop method. Moreover, you can upload and manage any number of videos and schedule it for hassle-free video delivery.
Vplayed is equipped with exemplary content delivery networks that assist in delivering video content to the right audience at the right time across multiple platforms with effective broadcast licensing.
Vplayed is inbuilt with a dynamic HLS video player that enables video streaming across the multiple platform & screens with a 4K resolution for aggrandizing the massive audience base.
The transcoding feature cut-off the cost by transcoding the media files from the source format to the format the user demand. Experience high quality of playback.
User Profile Management
Complete access over the user account helps in personalizing the user profile based on the user’s appropriate functionality carried by the user.
Create, customize & schedule everything you need to watch or “much liked” content, listen on the go through personalized playlist features.
VOD Monetization Features
Monetize every piece of streaming or on demand content based on the importance of the video content through offering SVOD (Subscription video on demand) to your viewers based on monthly or yearly offers.
Every count on views increases your profit. Maximize the reach of your videos across the platforms and generate business through a number of views produced for every video streaming content or on demand content.
A limitless possibility to aggrandize your revenue through the transaction by restricted access to some particular content on the number of views or hours for the viewers.
4. Purchasable Assets
Sell endless video assets to the global viewers by providing the most engaging content for a deal in order to seize the opportunities of monetizing.
1. IP Based Access Control
Allowing viewers based on geographical location to experience streaming of content and prevent unauthorized entry.
2. Token Security
Accessing the video streaming website through physical electronic key which consists of enabling password.
Prevent your video content from redistribution that is already published on any platform through the finest watermarking technology.
5. Payment Security
Vplayed is integrated with the world’s safest payment gateways for an effective payment transaction taking place on the video streaming website.
What Makes VPlayed Stand Out In The Crowd?
Customization has been the major factor that puts Vplayed a step higher in the crowded video streaming business market. To those aspiring enterprises and individuals out there, who wish to build a Netflix like video streaming website, customization of features and functionalities are the prime factor.
As a part of customization, Vplayed also offers White-label OTT solution for enterprise-grade to build live streaming website Netflix, YouTube with their own brand name. This means you can allow users to access the video streaming website or mobile app under your own brand to maximize platform credibility.
Cost to Build a Video Streaming Website
Generally, the cost to create a website like Netflix depends on the customization of functionalities, features you demand. There are several factors to be considered while developing video streaming websites like Netflix that influence the final price tag. Some factors considered are development, hosting, device fragmentation, Design, and Video player.
Being a top video streaming solution provider, Vplayed offers a one-time payment for the entire video streaming platform. This helps to prevent fret of subscription-based video streaming possibilities.
As the video streaming websites like Netflix, YouTube, Hotstar are towering its net worth day-by-day, the demand and market value of video streaming websites will be sustained one. Netflix wasn’t built overnight!. Yet there is ample space for newcomers like you to build a profitable video streaming website Netflix to generate revenue in millions. The only thing for enterprise and individuals is to focus on the business strategy to create a video streaming website and partnering with the right solution provider to have a lucrative liver streaming business you love to run.