Learn the step-by-step guide on how to build a profitable Subscription Video on Demand (SVOD) service. Find out why Adilo is the best SVOD service provider!
Are you wondering how to cash in big on your streaming service like Netflix, Disney+, and Hulu?
If yes, subscription video on Demand (SVOD) service is the magic you need!
There are approximately 1.8 billion subscriptions to video streaming services. This shows how profitable SVOD services are.
But what are SVOD services, and how do you build a profitable streaming service with a global reach?
Launching your SVOD service is possible with the right strategies and tools. Keep reading to discover how to begin and grow a profitable SVOD service.
Let’s dive in.
Table of Contents
Key Takeaways
- Using external tools incur extra payment. In contrast, starting a successful SVOD service is more cost-effective, requiring minimal operational cost.
- Key metrics like watch time, user engagement, churn rate and subscription growth helps you understand subscriber behavior.
- Begin by researching and analyzing competitors pricing within your niche. This gives you an idea on how to set your price rate that your subscribers can afford easily.
- To build your subscriber base, invest in advertising your video, and partnering with influencers. Leverage social media platforms. Also, don’t forget to offer free trials and discounts to encourage sign-up.
- Key features to look out for in a subscription video platform includes quality video streaming, secure payment options, video analytics, and effective CMS.
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What is a Subscription Video on Demand (SVOD)?
Subscription Video on Demand (SVOD) is a type of streaming service where its subscribers pay a recurring fee to access video content.
This could be monthly, quarterly, or annual payment depending on the chosen plan. In contrast to traditional television shows, SVOD viewers can access a library of video content whenever they want to (on demand). This includes shows, movies or documentaries.
Popular streaming platforms include Netflix, Hulu, and Disney+ offering premium videos on viewers demand.
Benefits of Building a Subscription Video on Demand (SVOD) Services?
Find out why you’re on track starting a SVOD services:
Recurring Revenue Stream
SVOD subscribers watch videos on-demand based on recurring subscription payment.
This generates a continuous predictable revenue stream for the video streaming platform. However, consistent cash flow is influenced by regular video updates which keeps subscribers paying continuously.
Boost Customers and Global Reach
With internet access, your premium video can reach a global audience.
SVOD service when well marketed will increase the number of viewers willing to pay for your content. Also, you can grow your video brand as viewers from any part of the world can easily find your content.
Content Ownership and Control
Building your own SVOD service gives you full control over your content.
In other words, your video isn’t limited by third party regulations as with social media platforms. You’re at liberty to manage and monetize your content at will.
Cost Efficient
You don’t need external tools like physical storage, DVDs or Blu-rays in distributing your content with SVOD.
Unfortunately, using external tools incur extra payment. In contrast, starting a successful SVOD service is more cost-effective, requiring minimal operational cost.
Convenience
Both customers and video creators enjoy simultaneous convenience using SVOD.
For customers, SVOD offers them the convenience to watch their favorite content whenever they want. As for video creators, you enjoy flexibility in revenue management and viewers engagement.
Factors to Consider When Starting a SVOD Service
Factors to consider when starting a SVOD service
Here are key factors to consider before starting SVOD services:
Content Creation Strategies
Content is king! This also applies to video content creation.
To scale up with SVOD service, you must have a structured outline for your content creation.
Hence, to attract and retain your subscriber base, you must consistently dish out quality contents.
Video Service Provider
Your chosen video hosting and streaming provider influences the seamless distribution of your content.
A reliable hosting platform like Adilo offers top notch features like security, compatibility, playback quality, and more. This allows you to securely create, host and stream your content effortlessly.
Monetization and Pricing Options
You should have a well thought out monetization and pricing model before launching SVOD services.
This ensures you don’t encounter hitches in revenue generation. Hence, depending on the types of your subscriber you can offer monthly, quarterly, or annual subscription or pay-per-view options.
Analytics
Analytics serves as a roadmap in building a profitable SVOD service.
Key metrics like watch time, user engagement, churn rate and subscription growth helps you understand subscriber behavior.
Tools like Google analytics, Mixpanel or SVOD service providers like Adilo analytics are recommended to track your growth.
How to Build a Profitable SVOD Services?
How to build a profitable SVOD service
Here is a step-by-step guide:
Discover Your Niche
Without a defined niche, a profitable SVOD service remains a wish!
Before launching, take out time to research specific niche with high demand but limited supply. Popular high demanding niche include fitness, entertainment, sport and education SVOD services.
Also, don’t hesitate to analyze your competitors’ brands to learn from their service and pricing structure.
Choose Your Video Hosting Platform
Your newly found niche needs to be hosted on a secured video service provider.
While there are tons of SVOD service providers in the marketplace, Adilo stands out as it offers you unlimited, ad-free streaming. You also gain access to playback speed, content security, video split testing and more.
A reliable hosting platform must offer live streaming, monetization features, and integration for analytics and payment processes.
Build Your Customized Subscription Website and OTT Apps
Your hosted video needs to be embedded on a website or app for easy access by your subscribers.
Choose platforms like WordPress that enable customization without extensive coding. Also, your website or app must be easy to navigate by users with welcoming designs.
Moreover, a personalized user dashboard is recommended for SVOD service allowing your subscribers to easily navigate, access and save videos.
Create Your Subscription Plans
Monetization options are paramount to securing continuous cash flow from SVOD service.
Begin by researching and analyzing competitors pricing within your niche. This gives you an idea on how to set your price rate that your subscribers can afford easily.
Be flexible in setting your subscription plan such as monthly, quarterly or annually. Also, include free trials or discounts on annual plans to encourage initial sign up and long term commitment to your streaming platform.
Setup Your Payment Options
Set up your payment options immediately and you decide on what price to charge.
However, choose trusted and intuitive payment platforms like Stripe or PayPal. Verify your payment process complies with security policies like PCI-DSS which protects user data.
Most importantly, enable multiple payment options like credit/debit cards, PayPal, and regional options to cater for a global audience.
Build Your Subscriber Base
A rich subscriber base is the bedrock for building a profitable SVOD service.
Be deliberate in building a list of subscribers genuinely interested in your content and willing to pay for it. Leverage social media platforms like Instagram, TikTok or Facebook.
Ask for review and testimonials from existing audiences to build trust and credibility. Also, Invest in SEO practices like keyword strategies which attract the right audience to your content.
Publish Your Website and Promote Your Content
Now you’re ready to launch your SVOD service to the world.
Utilize the right platform to spread the news to the right audience. This includes social media targeted campaigns, email newsletter or influencers marketing.
Don’t be reluctant in promoting your content even if it’s quality and SEO optimized. Keep your audience renewing their subscription by updating regularly with quality contents.
Why Adilo Is the Best SVOD Service Provider
Adilo is a robust Subscription on Demand (SVOD) provider with advanced video streaming features. It combines security, monetization, analytics and more features in delivering quality streaming to meet demands of businesses, online creators and marketers.
Here are key features why Adilo is the best SVOD service provider in the market:
- Unlimited Hosting Service: Adilo offers unlimited hosting with unlimited storage and bandwidth for a low monthly fee. This allows you to create a large video content library.
- Ad-Free Streaming: Ad displays disrupt seamless streaming for your viewer. In contrast to platforms like YouTube that display ads, Adilo offers an ad-free experience to viewers.
- Video Split Testing: Adilo comes with a video split testing that allows you to test and choose which video is best for your audience. It allows you to A/B test different video elements like thumbnails and CTAs.
- DRM and Security: Your content security is of top most importance to Adilo. Hence, It uses Digital Right Management (DRM) and anti-piracy features to safeguard your content.
- Video CMS: When you sign up with Adilo, you gain access to a user friendly Content Management System (CMS). This enables you to easily organize, manage and distribute your video.
- Video Playback: Adilo supports standard video playback up to 4K ultra HD and HDR for high quality viewing.
- Screen and Camera Recorder: With Adilo, you have access to HD recording from your screen, camera, audio, web and more.
- Customization: Boost your SVOD service by leveraging Adilo’s customization option including video design layout and embedding features.
- Monetization: Adilo offers you robust monetization features without restriction. Its in-video CTAs, lead capture form to external link integration, makes it easy for you to cash in on your video content.
- Analytics: Analytics helps you track your user behaviors and video performances. With Adilo you gain access to detailed insight including engagement rates, view rate and more.
Alternative Video Subscription Platform Provider
Here are alternative video subscription platform provider:
Wistia
Wistia is a video subscription platform provider that enables you to host, manage and optimize your videos effortlessly.
You can leverage Wistia’s Content Management System (CMS) including folders tags and secured sharing options. Additional tools include analytics tools, monetization options, SEO tools.
Vidyard
Vidyard is an advanced video platform that offers tools like AI-powered script generation, video hosting and automated processes.
This helps optimize your SVOD service with its robust analytics. Also, its customized video messaging, monetization options, and customization option guarantee quality video production.
Brightcove create
Brightcove is a video on subscription platform provider offering full monetization options via subscription. Through Brightcove Beacon, you can create an SVOD plan for your subscribers to access your premium content.
This platform comes with flexible customization features including advanced privacy and security features.
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FAQs
How do I choose the right niche for my SVOD service?
Choosing the right SVOD service niche is influenced by your expertise. Go for a niche with high demands but limited competition. Also, ensure to put out content topics that are trending.
How should I price my SVOD service?
To scale up with SVOD service, consider categorizing your pricing into tiers; an affordable basic pricing and a premium pricing for exclusive content.
How do I acquire subscribers for my SVOD platform?
To build your subscriber base, invest in advertising your video, and partnering with influencers. Leverage social media platforms. Also, don’t forget to offer free trials and discounts to encourage sign-up.
What are the features required for a subscription video platform?
Key features to look out for in a subscription video platform includes quality video streaming, secure payment options, video analytics, and effective CMS.
Final Thoughts On Building a Profitable SVOD Service
Here you have it, a complete roadmap to building a profitable SVOD service in a cost effective way!
Video streaming is on the rise as the digital space expands. Hence, it is a profitable business to venture into by defining your niche and putting out quality content.
Also, leverage social media platforms to promote your content and grow your subscriber base.
Most importantly, to build a profitable SVOD service host your content with reliable service providers. I recommended Adilo as a secure platform for seamless creation, hosting and monetization of your content.
Sign up now to get started.
Experience: Happiness Hassan is an SEO content writer and strategist with over 7 years of experience helping brands boost visibility, engagement, and sales.
Expertise: Whether it's keyword research, crafting content, or fine-tuning on-page and off-page strategies, I’ve got you covered. My goal is beyond driving traffic but making your users experience a win-win for everyone!
On the coaching side, I’ve trained countless writers to turn their passion into profitable SEO careers. I help them navigate the SEO path, standing out in even the toughest niches and cashing in on their skills.
When I’m not geeking out over SEO, you’ll find me deep in the world of self-development. As a dedicated student of continuous growth, I write about my growth journey, sharing insights to help others unlock their potential.
Education: Complementing my BSc. Geography and Environmental Management from the prestigious Ahmadu Bello University, Zaria, I have honed my skills as an SEO content writer and strategist through comprehensive training at Northpad, where I gained expertise in crafting optimized content to boost search engine visibility. As a certified student of Jobberman Soft Skills Training, I developed strong communication and problem-solving skills, which complement my SEO proficiency.
My dedication to continuous personal learning and online training keeps me updated with the latest industry trends, enabling me to create content that aligns with the ever-evolving demands of search engines and user experiences. I stay connected with top experts to ensure my strategies remain current and effective.
Felix is the Senior Content Editor and Strategist at Adilo, where he harnesses his expertise in social video marketing, online video platforms, video editing, e-commerce, e-learning, and marketing to to help businesses drive results. With a keen eye for storytelling and a pulse on industry trends, Felix crafts actionable content that empowers brands to elevate their video marketing strategies and thrive in the digital landscape.
