With OTT platforms, a video streaming service provider can offer both live and VOD (video-on-demand) content. But providers can also face the dilemma of choosing which way to go. Let’s observe what benefits can these formats provide you as a content creator.
VOD platforms offer videos to watch at any suitable time a user wants. These are pre-recorded videos stored on servers available anytime. It is what makes VOD services so comfortable and enticing to use.
So, what are the benefits of VOD services?
OTT monetization is what attracts businesses. VOD platforms have wonderful capabilities to generate revenue.
As videos are pre-recorded and stored on servers, companies charge people for access to them. For example, you can sell a monthly or yearly subscription with unlimited access to content as Netflix does, or you can get paid for every video you have on a platform. Also, some video streaming services can leave content without a fee. They will probably earn money from advertising.
Time to edit
You can edit and record your videos as much as you want if your service is VOD. You can upload and delete them if some details seem worth it. It is easy to add some elements to videos while editing or remove some abstracts you don’t like.
While live videos are available at certain times, VOD services offer content for watching anytime. It is what tempts users to stop using cable or satellite television and turn to streaming services.
What is more, viewers can access your platform anywhere they are, especially if you offer applications for devices, such as smartphones or tablets. Applications will simplify the usage experience for viewers.
Live streaming has its peculiarities as well. Due to the live format, you obtain a range of possibilities. What are they? Let’s see.
You can communicate with your audience in real-time. It is an essential part of building relationships with your customers and getting to know them. People will appreciate the opportunity to ask questions and receive answers in real-time directly from you.
What is more, real-time communication creates a feeling of bonding with you and your brand. People feel like they are a part of something big. And it may lead to closer relationships with your brand. It means that people will likely buy more from you.
Live streaming is helpful when you stream educational content or church services. Those who cannot attend an offline meeting appreciate live videos.
You may wonder how to monetize live videos. But we have some ideas for you. You can sell access to a live streaming event on a subscription or transactional basis. So, people who paid for participation will be able to take part in a live stream.
If you want to monetize this video further, don’t remove it after the streaming is over. You can store the video allowing it for on-demand access. And you can also sell access to this video. So, it will also bring you revenue in the future.
Many companies don’t use any format of live streaming for unknown reasons. That’s why for you, it can be the way to stand out from the competition. The more contact points you will have with your viewers, the higher the loyalty level you can reach.
VOD and live streaming have their peculiarities. With both formats, you can generate revenue and have benefits. But they may require different resources to produce videos. But you can also contact the Setplex. With their solution, you can try both formats and decide which one you like more.