We all perceive the world differently. Everyone’s love for stories and content reflects something bigger: We’re all creators deep down. So, you might be a marketer or just sharing your ideas; you’re probably here because you get the essence of content making. We’re creators, too, writing this blog.
We all know there’s a growing demand for content. This means there is a lot of competition for attention. So, how do you stand out as a creator and storyteller? You have to use video streaming platforms dashingly.
That means being seen as a leader in grabbing viewers’ attention. You also have to work hard to keep your audience hooked. But first, you’ve got to know your options and what they mean for your content’s future. So, let’s dive into this blog.
What are streaming platforms?
You’ve probably heard of streaming platforms for watching movies online. Ever Netflixed and chilled? Streaming platforms are basically online sources for TV shows and movies. They also offer other incredible stuff you can watch whenever you want. In simple terms, a streaming service is like a digital entertainment platform.
Before streaming, we mostly had cable and satellite TV, where you couldn’t choose what to watch when you wanted. Then there was downloading, where you had to wait a long time for videos to download onto your computer.
But with streaming, you can watch videos instantly in your web browser without having to save them on your computer. Instead of downloading everything at once, streaming brings videos to you in small pieces, like a river flowing into your browser.
On-Demand Streaming Vs Live-Streaming
Live Video Streaming
- Live streaming delivers content to viewers as it happens.
- With modern technology, anyone can host a live stream.
- Monetization options for free multi-video streaming often include ticketing, ads, subscription fees, and more.
On-Demand Video Streaming
- On-demand streaming services allow users to choose content to their liking. This enables them to watch at their convenience.
- VOD content is typically organized into collections or libraries
- Monetization methods for VOD include subscription video-on-demand advertising and other revenue models.
Difference Between Live Streaming and VOD
- Live streaming distributes content in real time. VOD content is accessible on demand.
- Live streaming requires more complex technical setups and offers limited editing opportunities. VOD content allows for greater flexibility in production and editing.
- Live streaming creates a sense of urgency and increases engagement. This is often due to its real-time nature. Content on the VOD Streaming Platform can be accessed at any time.
Use Cases: Live Streaming vs. VOD
Live Streaming Use Cases
- It is ideal for live audience engagement. It also makes it possible to create immersive experiences for remote viewers. It is perfect for concerts, lectures, sporting events, talk shows, and fitness classes.
VOD Use Cases
- Suitable for evergreen content accessible over a longer period, including entertainment (films, series), corporate training, podcasts, and online courses, and for creating content archives or collections.
6 Steps You Require to Create A Streaming Service
The main goal is to figure out what makes your platform unique. Sure, you could focus on entertainment shows, comedy specials, and documentaries. It gets especially important as you’re getting ready to create your own streaming service. This is your complete guide to making one:
Step 1: Choose Your Specialty
But why try something different? Offering original content and specific features could set your platform apart. It is better to focus on a specific niche and excel in that. Here are three popular categories right now:
- Fitness: With lockdowns keeping people at home, streaming fitness videos could make your platform stand out.
- Education: Technology has revolutionized how we learn. The e-learning market is booming. Creating an educational entertainment series could be a smart move.
Documentary: While sitcoms dominate the entertainment segment, there’s still a demand for quality documentaries. Developing a platform that highlights the best documentary content is a promising idea.
Step 2: Understand Your Audience
New players pop up all the time in the crowded world of streaming. Sadly, many of them don’t make it. Quibi was once a promising platform for short videos. It couldn’t survive the fierce competition during the pandemic. Now, it’s closing down after just six months.
To succeed, don’t try to appeal to all. Instead, concentrate on a specific group of users. Define your target audience early on and work hard to win them over. Research the market and figure out what your audience needs. Now, you’ll be better equipped to meet their needs and stand out in the live streaming platform market.
Step 3: Discover Your Content
When it comes to streaming video platforms, what you show is crucial. There are two types of content you can use. You get permission to use (licensed content) and stuff you make yourself (self-created content). You can make your own stuff to live stream free. This is like creating your own special content that nobody else has.
Original shows and movies are a big hit for streaming services. Netflix, for instance, has made a whopping 447 of their own shows! So, get creative and make your mark with your own awesome content.
Step 4: Pick How You’ll Make Money
Ensure your platform earns you money by choosing the right way to make cash. Here are the options:
- Subscription: You can ask users to subscribe to access your content. They’d pay monthly or yearly fees to watch your videos whenever they want.
- Pay-Per-View: Charge users for the specific content they decide for live streaming.
- Advertising: Play ads during shows that can be watched anytime.
Step 5: Check What You Need for Your Streaming Platform
To make your dream streaming platform a reality, you need to meet certain requirements. Here’s a checklist to guide you:
Cloud Hosting and Computing Setup
You’ll need a secure space to store all your content. Cloud hosting is recommended because:
- It’s flexible, automatically expanding storage as your content grows.
- It’s cost-effective compared to traditional hard drives.
Network Connectivity
To handle future growth in traffic, consider integrating a content delivery network (CDN). This network will distribute videos to subscribers efficiently through a server network.
Security Measures
Because you’ll be dealing with licensed content and user data, security is crucial. Here are some key points to ensure data security:
- Set domain restrictions to prevent unauthorized use of your platform’s links.
- Implement geographical restrictions to protect licensed content.
- Ensure content availability even during server failures.
Payment Options
Offering multiple payment gateways gives your subscribers flexibility. Choose popular payment methods to accommodate a wide range of users.
Step 6: Create a Simple Version First, Before Investing Lots of Money
Even if you have done thorough research, filled every gap, and secured top-notch content for streaming, you won’t truly know if your platform is great until real users try it out. Here are the essential and optional features to include for live streaming platforms:
- Sign up / sign in
- Basic user profile
- Catalogue with categorized shows
- Basic search
- Payment and subscription options
- Show details page with episodes
- Video player
- Ratings
- Settings (language, subtitles)
- Push notifications
- Admin panel for content management
Wrapping it up
Developing video streaming software can be complex and requires hard work and creativity. At OnTheFly, they are ready to assist you in bringing your dream video streaming service to life.
Even if you only have a basic idea for your platform, they will guide you through the process of turning it into a fully functional product for offering live streaming services.
