Everything you need to know about Video-on-Demand (VOD)
Everything you need to know about Video-on-Demand (VOD)
Video-on-Demand is one of the most popular technologies that you can find out there. Millions of people around the world use Video-on-Demand to get their entertainment needs catered. In fact, it is the most popular method of watching videos in 2021. People don’t just use Video-on-Demand for entertainment purpose. It is also possible to use Video-on-Demand for advertising. While keeping that in mind, let’s deep dive and explore what Video-on-Demand is all about.
What is Video-on-Demand?
On-Demand (also known as Video On Demand or VOD) enables a viewer to watch a movie or television show whenever it is convenient for him or her. Viewers may stop, play, fast-forward, rewind, and re-watch the episode as many times as they want with On-Demand.
VOD (video-on-demand) refers to any content delivery method that allows users to select when, where, and how they watch media.
They may start viewing a video by just clicking on a link. For example, if you start playing the linked YouTube video below, it is video-on-demand at its simplest form:
A TV service provider normally chooses the programs that are available for On-Demand viewing, as well as the days on which they are accessible. Most TV service providers additionally limit how long a program is accessible to a client after the first viewing, such as a 12-hour window after the show's completion, preventing consumers from watching material indefinitely.
Popularity of Video-on-Demand
The popularity of Video-on-Demand is increasing day by day. While keeping that in mind, let’s take a look at some facts that highlight the popularity of it.
- People actively seek out video content above other types of content.
More individuals than ever before are looking for video this year. In fact, websites utilizing video have witnessed a 157 percent boost in organic search traffic. This is due to the fact that consumers perceive videos to be more interesting and instructive than other forms of media. In fact, according to a Wy owl analysis from 2020,
o Customers prefer to learn about goods or services via video 72 percent of the time.
o A video describing a product or service is understood 95% of the time by viewers (as opposed to understanding 10 percent when reading explainer text.)
o To fix an issue, 65 percent of individuals prefer to watch a video.
We're not dismissing the importance of other types of media. However, video is becoming more important to viewers all around the world.
- People want more control and choice over what they see on television.
Many consumers are canceling their cable subscriptions and instead opting for streaming options. This is known as cord-cutting, and millions of people are doing it!
It's because VOD allows viewers the freedom and convenience of watching precisely what they want, when they want. In fact, 77 percent of Americans are delighted with VOD's flexibility and possibilities, compared to just 34 percent who are satisfied with their cable subscriptions. Customers just have more options with VOD, particularly now that they can view programming that was previously exclusively accessible via cable, such as live sports events. That's why, in 2018, the number of streaming video subscriptions overtook cable subscriptions for the first time, and why more consumers are ditching their set-top boxes in favor of video streaming.
- Video creators may bypass "gatekeepers" and provide content to engaged audiences directly.
Businesses that concentrate on video may now operate on their own terms. "Gatekeepers," or individuals and corporations that govern how (and even if!) your content is made, used to dominate video entrepreneurs. A TV network executive, for example, who determines whether or not to shoot your program proposal.
Anyone with a computer, a camera, and a decent idea can now earn money from video by generating and distributing their own content.
- VOD is less expensive than cable and satellite, and you get more of the content you want.
Cable costs an average of $217 per month, or more than $2600 per year! It also comes with a slew of other costs, such as equipment leasing. VOD services are a bargain in contrast. Viewers are no longer needed to pay for costly cable packages that feature a plethora of programming they do not desire. Instead, consumers may pay a lower monthly fee for subscription services that they genuinely want.
How do you watch something with Video-on-Demand?
Purchasing a program through On-Demand is as easy as navigating to the On-Demand interface, picking the material you want to view, and then entering your unique pin number or verification number, which informs the video provider that you want to buy the item. After then, you may view the episode or movie for as long as the video source permits. Isn't it simple?
Most importantly, On-Demand subscribers are charged on a month-to-month basis. Hundreds of free episodes and movies are only accessible on-demand via subscription channels, so consumers are charged merely for using the service.
Because it enables customers to buy extra movie or program material, On-Demand becomes akin to over-the-top services like Netflix, Hulu, or Prime Video. Content that you can purchase includes freshly released movies, new series, and everything in between. MTC TV no longer provides On-Demand material as a service, although On-Demand may be bought separately from other providers.
What are the benefits of video-on-demand?
There are multiple benefits associated with video-on-demand. Let’s deep dive and explore some of the key benefits that you can get.
- Video on demand is affordable
In comparison to television commercials, online video promos are convenient and may reach a large audience. When it comes to cost, VOD movies and TV programs take a fraction of a second and pay a fraction of what you spend for satellite TV providers.
Clients have complete freedom to see any and all types of information. Customers may also choose a premium package to watch a wide range of video material at a low cost through video on demand and faultless VOD software.
When compared to television advertising, internet video advertising is more modest. Traditional methods of distributing endorsements are far more costly than internet video advertisements. If you want your commercial to be seen during prime time, you'll have to pay TV stations for advertising space.
- Ability to make content available in more screens
Getting in touch with people used to be a difficult task. The unrivaled finest technique of advertising was via television promotions, in which viewers may see advertisements only when they are in front of the television.
Nowadays, contacting people is straightforward thanks to many internet techniques; with online and social media advertising, you can reach the great majority of your target audience by providing access to several screens.
Customers may enjoy scrolling promotions on a variety of devices, including smartphones, tablets, workstations, and IP TV. This is unique when compared to other effective web processes used by today's top-earning advertisers to reach a large group of viewers all over the globe.
- Better revenues via video marketing
Online video marketing provides a quick and easy way to do business. Online video promotion using top-notch VOD server software may result in speedy sales conversion. Online marketing is a fantastic way to achieve your company goals.
Previously, a group of people would sit in front of the television advertising and dial toll-free lines to acquire additional information on a given item or service. It is now easy for a viewer to go online and verify more subtle aspects on offers or the offer using their mobile phones, tablets, and other devices. The URLs for online video commercials are provided underneath the online promos. These links bring viewers to the site for further information, and they may also be sent to their business page for immediate conversion.
- Better reporting statistics
It is possible to quantify metrics such as how many people saw your online promotions, how many people delayed it, how many people watched it entirely or how many people left or paused your online recordings in the middle, and so on.
This offers a crystal-clear picture of the group of devoted watchers. You can receive a lot more information than just the number of views using this. Extra metrics, such as clicks and direct purchase via clicks, may also be approximated, unlike TV ads, where you can't provide a report on audience devotion.
- Better targeting options
It is legitimate to target a certain demographic with internet video advertising, which are not at all like television commercials. Publicizing on television is like to throwing everything at once at a wall and waiting to see what sticks.
It's a time-consuming process, and it's tough to pinpoint your audience's potential prospects. Unlike television commercials, video adverts may be remade to meet your specific needs. When compared to previous forms of advertising, online video marketing places a greater emphasis on choices.
Now you know what Video-on-Demand is all about. While keeping these facts in mind, you can try to get the most out of Video-on-Demand. Then you can experience all the great benefits that come along with it to you.