Do you know how many people watch films online last year? 467 Million and at the same time, people who streamed videos on the video streaming website were about 1.5 Billion.
Once a wise man said “You Stream it Like you Mean it”
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 video 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 VOD platform 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.
2. Original Content
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 VOD app. This native content adds credibility to Netflix’s growth.
3. No Advertising
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 video on demand 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.
4. 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, Real-time chats, Social media, and telephony.
5. 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 best OTT platforms in the market. The global expansion of its content is the greatest success of Netflix.
6. 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?
There are a number of best 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 VOD 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.
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 video monetization models. Let us dig deep into the video streaming solution provider to understand how your business can benefit from it.
Key Features Of Online Video Streaming Platform
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(CDN) 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 video 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.
How To Monetize The Online Video Platform To Generate 4X Revenue?
The most important aspect of VOD business focuses on varied monetization model approaches that can support and upscale with additional money-making tactics. The primary ones that mark high revenue standards for your on demand or live streaming platform are: SVOD, AVOD & TVOD. Other than that you’ll have choices like:
Monetize every long-tile piece of streaming content based like movies, tv shows, web series by offering SVOD (Subscription video on demand) model to your viewers based on monthly, quarterly, or yearly flexible packages.
Every penny makes a difference in increasing your payback and so can limitlessly aggrandize it through a transactional or pay-per-view model. You can now offer rental or life-time accessibility to your users & monetize in a single shot with a large sum collectively.
This takes the majority of your profit share by displaying it in the form of pre, mid, postrolls which makes a good choice for you to have potential views and capitalize on them. Also you can have overlay ads on banners & scrollbars to entice viewers from any media shown.
4. Catch-Up TV
Stream the missed episodes of TV shows, serials, videos according to your audience’s favourite list. Allow users to watch in their own space with a flexible fee allotted for a specific period. This can get you wide engagement particularly when users miss previous seasons in boxsets.
5. Coupons & Promotion
Now in the world of promo codes you can make a susceptible difference by making pioneer videos available to targeted audiences on special occasions. Incentivize many opportunities much higher than usual ones to get maximum reaping benefits.
6. Third Party Ad Integration
Host content related to ads and deliver them directly to your user base mobile apps and websites. They enable you to optimize ad campaigns & fetch detailed reports on your traceable ad serving activity. Get to collaborate to scale your platform performance by monetizing easily.
7. Hybrid Models
Hybrid monetization models are now becoming more common for video streaming business elevation. Combining pay-per-view models with some alluring sponsorships can add more value to your profit zone. Also, offer premium recordings with active participation options to users.
Security Features Of White Label Video Streaming Solution
As we tend to lean so heavily on the video streaming business it is clearly evident to strategically address security challenges that have come up recently to the forefront. Earlier, this wasn’t the case, but now as we are a tech-driven economy upgrades in business confidentiality are crucial where data security becomes the primary concern to deal with.
For instance, businesses have learnt their hard lessons, through unwelcome visitors to join video sessions easily and disrupt the total control over their streaming data. Some of the power pact protocols that can safeguard entire streaming infrastructure are here below:
1. IP Based Access Control
Allowing viewers based on geographical location to experience streaming of content and prevent unauthorized entry.
2. Multi DRM Platform
Put an access control over your videos using video DRM systems and shield your premium platform security with key content copyrights & siel unauthorized entries.
3. Token Security
Accessing the video streaming website through physical electronic key which consists of enabling password.
4. AES Encryption
Among multi-tier security protocols AES encryption using 128/256-bit crypto keys can help you to keep your data protected and correspond them away from prying eyes.
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.
6. Screenshot Prevention
Basically images with screenshots and screen recording can now be made absolutely blurred or disabled making it an ideal solution won over data leaks, video piracy, acts of infringement
7. Restrict Simultaneous Logins
Curtail limitations to accessibility for every login credential based on monitored login credentials. Based on asset level you can now easily control views in concurrent streams.
What Makes VPlayed Stand Out In The Crowd?
Customization has been the major factor that puts VPlayed a step higher in the crowded video business market. To those aspiring enterprises and individuals out there, who wish to build a movie streaming website like Netflix, customization of features and functionalities are the prime factor.
As a part of customization, VPlayed also offers a White label OTT platform 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.
How Much Does It Cost to Build a Video Streaming Website?
Generally, the cost to create a video streaming 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 VOD streaming platform 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 video on demand solutions provider to have a lucrative liver streaming business you love to run.
If You Already Have An Idea To Build An Online Video Platform, Schedule a Free Demo And We’ll Get You On The Road To Video Streaming SuccessFrequently Asked Questions(FAQ)
When you think of scaling your video business just like Netflix, just choosing the apt business model is not only enough! Apart from that, other parameters like platform ownership, mode of accessibility, streaming content originals for better engageability, safe streaming protocols, varied monetization models within your white-label platform will help you to embrace your audience and monetize your business in the best way.
This is largely dependent on the website’s size, i.e number of customization it requires, streaming advancements and much more. However when you plan to branch out in creating an app for making it user-friendly, advertising automation and other personalized services it can have variation quotes deciding its subjective cost factors.
Subscriptions are the most important source of revenue for Netflix. Best part is that in paid subscription users can watch 4K videos on 4 screens simultaneously. Following 3 monthly membership plans are available to users: Basic plan is around $7.99 per month. Users can access movies, TV series, on any device such as laptops, TVs, Phones & Tablets. For simultaneous viewing on a standard & premium price plan Netflix charges around $10.99 & $13.00 per month.
The technique of earning money from videos you publish online on any platform is known as video monetization. Advertising, subscriptions, and direct transactions are frequently used to do this. Definitely on-demand monetization models like pay-per-view, catch up TV, coupons & promotions offer greater support to monetize your intellectual property that need to be met on grounds of originality.
Primary features that are strongly supportive to video streaming platforms include the ability to Embed video content, Social media sharing options, HLS streaming player, power pact Monetization models, standardized CDNs, Whitelabelling solution, Platform ownership, and much more. The major plus comes into the limelight when all of these can be bought for lifetime platform licensing, in order to beat cost factor parameters in the long run.