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Video content has many purposes in the business world. It is primarily used in ads and content marketing strategies, but video content can be used as a product.
You can sell mini-films, tutorials, lessons, webinars, and other videos for on-demand consumption. There are a few ways to monetize video-on-demand services, and SVOD is among the most popular monetized video streaming service models. SVOD platforms use subscription fee-based pricing models to monetize video content.
Today, we will talk about SVOD, the best SVOD models, and other popular monetization strategies that can help you generate a new revenue stream. We’ll also discuss what a subscription service is, who should use it, and how to set up the best SVOD model for your needs.
Video Monetization: The Different Methods
What does SVOD stand for? How should you monetize your VOD? Let’s talk about it!
As video streaming becomes increasingly popular, the options for monetizing video content become broader. Many people automatically think about using YouTube and its ad-based VOD structure when they consider monetizing their content, but this is not the only option.
Each video monetization model has its individual purpose. That means they’ll be consumed differently and, in turn, monetized differently. Learning about the different business models available can help you generate more revenue through the right monetization strategy and even design your own hybrid revenue model that best suits your needs.
There are three ways to monetize your video: SVOD, TVOD, and AVOD.
What is SVOD?
SVOD stands for subscription video on demand and is one of the most popular video monetization business models for premium content.
SVOD stands for subscription video on demand and is one of the most popular video monetization business models for premium content.
Subscription video on demand (SVOD) is exactly what it sounds like. Viewers pay a subscription fee to access your video content on demand.
More than one in three broadcasters currently use subscription models to monetize their content.
You’re likely familiar with platforms like Netflix, HBO Max, Hulu, and Disney+. You pay a monthly or annual fee and get access to any shows or movies they offer.
These are pretty large-scale SVOD services, but they clearly show how SVOD providers operate.
You can create an SVOD service with the help of an advanced video hosting platform. Software like this will allow you to stream video live and on-demand directly on your site.
SVOD services are quite hot at the moment and are only getting hotter. Business Insider reports that even though many people are already using SVOD services, many are willing to expand their budgets to invest in additional SVOD services.
When to Monetize with SVOD
Monetizing video content with SVOD is a great option for many, but it is not a one-size-fits-all deal.
You’d use an SVOD approach when broadcasting a body of content your audience would want to access multiple times.
Depending on the price and length of the subscription, regular consumption could be defined as streaming your videos once a day or a couple of times a month.
There are a few general types of content that work well with SVOD.
1. Live Entertainment
Subscription video-on-demand platforms are great for streaming performances, indie films, and other entertainment.
Typically, films and television series are the most popular types of content on SVOD entertainment platforms, but the options are much broader.
Did you know that nearly 5 million people attend virtual music festivals annually?
Since the coronavirus spread across the world this spring, streaming different types of videos for entertainment from home has become even more popular.
People stream mini-concerts, “open-mic nights,” poetry readings, and more. Entertainers who would typically go on tour can create online series where they broadcast their performances. Depending on how these series are set up, SVOD is certainly an option.
2. Exercise and Wellness
You can monetize online fitness classes with a powerful SVOD service.
Also, due to the billions of people stuck in their homes due to the coronavirus, exercise and workout videos are premium content for SVOD-based streaming services. There has been an enormous boom in SVOD workout platforms.
You can create a massive arsenal of workouts that viewers can do from the comfort of their homes.
It’s an excellent alternative for personal trainers, studios, and gyms that usually host in-person sessions.
Even if you aren’t forced to stay inside because of a pandemic or other natural disaster, moving your fitness classes onto an SVOD platform has perks. It is a fantastic way to reach more clients since the internet allows people worldwide to attend classes.
3. Live Streaming Sports
Broadcast semi-professional, collegiate, and club sports with an SVOD platform.
Live streaming sports technically fall under entertainment, but watching sporting events is slightly different from watching a show or film on TV channels.
You can offer seasonal subscriptions to watch your team’s games or matches on demand or live. Media companies can grow their video business by adding value to the subscription package. Offering audiences high-quality streaming from mobile apps in addition to streaming platforms is a great way to magnetize more loyal subscribers.
Creating a small SVOD is particularly useful for sporting teams that don’t get air time on ESPN, NBC Sports, and the other big sports television networks but still have a loyal fanbase.
However, it is also possible to create an ESPN-grade sports network with OVPs like Mslive.
4. Online Education and e-Learning
The internet has revolutionized the way that people learn and consume information.
The birth of informal education has allowed people to both teach and receive information in a brand new way. Gurus, tutors, and other types of educators can create content and make it available on their own VOD platforms.
Independent educators can monetize their materials with SVOD.
Traditional education organizations—including universities, grade schools, and trade schools—would not typically use SVOD monetization techniques since their content is funded in another way.
Using SVOD with an Online Video Platform
Use a powerful OVP to set up an SVOD.
SVOD is not a particular software or tool. It is a VOD platform that you create. It is where your subscribers access your content. You use an online video platform—also called a video hosting platform—to set up your SVOD.
When choosing an online video platform, there are two very important things to consider. You want to make sure that your OVP is equipped with proper monetization capabilities and streaming technology.
In order to monetize your VOD with subscriptions, you’ll need secure paywalls. In order to make your videos most easily accessible for your paying customers, you’ll also need a streaming solution that uses OTT technology.
Let’s take a look at how these two things come into play.
Online Video Platforms with SVOD Capabilities
There are so many amazing online video platforms (OVPs) on the market, but only a select few have powerful monetization features.
We have sorted through a few of the most popular OVPs and pulled out the ones with SVOD monetization capabilities.
Here’s what we’ve got.
1. Mslive
Mslive is a unified video platform that offers SVOD and other monetization options.
Mslive is an online video platform that is perfect for setting up a profitable VOD solution. This is all made possible by vzaar, an advanced video hosting platform tool acquired by Mslive in recent years.
Vzaar is loved by many because of its unique video management system. Keeping all of your videos sorted is essential so that your subscribers can navigate through your content with ease.
We offer several video monetization options, including secure paywall options, SVOD, AVOD, and TVOD.
2. IBM Cloud Video
SVOD is the only monetization option available on IBM Cloud Video.
IBM Cloud Video is another great online video platform with SVOD monetization features. However, this OVP only has SVOD features.
While they lack AVOD and TVOD capabilities, they do have subscriber management tools that come in handy.
Conclusion
Subscription-based video on demand is a great way to monetize your premium content and grow as a broadcaster and content creator. If your business falls into the independent education, entertainment, sports, or fitness realms, SVOD is an excellent option for monetizing your video content.
If a subscription video-on-demand platform doesn’t seem right for your business, there is nothing to worry about. AVOD and TVOD are great options, too.
With the help of an advanced video hosting platform like Mslive and other video screening service leaders in the streaming industry, you can easily create and monetize your VOD platform.
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