How and Why Owning a Video Streaming Website and App Makes Sense for Your Business
In this day and age, video content has undoubtedly established itself as a powerful tool for businesses to connect with their audience, drive engagement, and boost brand awareness. And with the rise in the adoption of video-on-demand (VOD) and over-the-top (OTT) platforms, businesses have an incredible opportunity to leverage the power of video streaming. If you have a business, big or small, home-grown or acquired, or you’re just starting one, here’s a low-investment, high-return business strategy for you!
Why Video Streaming Makes Sense for Your Business
Video streaming is not a fleeting trend or a fad; it is rather an opportunity for businesses to become relevant to their audiences. It offers real, long-lasting benefits for businesses that know how to make the most out of it.
Videostreaming apps and platforms are revolutionizing businesses digitally. Companies need new ways to boost sales and connect with customers. It’s the era of videos and if your business does not capitalize on this opportunity, you’re missing out. Your audience expects it, and your competitors are already on it.
How Big and Small Businesses Are Leveraging Video Streaming?
Video streaming services are a game-changer for sales and online presentations. It is a strategy widely adopted by tech vendors since the onset of the pandemic. Prominent companies like Apple and Samsung have successfully introduced new products through online video presentations.
To ensure a professional and polished presentation, they pre-recorded the events, akin to creating content for platforms like YouTube. However, to maintain the illusion of a live experience, the companies chose to stream the pre-recorded videos rather than merely uploading them to the platform.
Interestingly, video streaming has also found unexpected relevance in the real estate industry. Brokers are now showcasing properties to potential buyers remotely, eliminating the need forphysical visits to the location. This immersive experience makes clients feel like they're in the same room with the agent, all without any travel required.
Video streaming also offers opportunities for teachers to enhance their teaching methods and reach a wider audience. Teachers create pre-recorded video lessons to explain concepts, allowing students to watch at their own pace outside of class time. This approach allows for more interactive and engaging in-class activities, fostering better understanding and knowledge retention. Additionally, teachers also create supplementary resources like video tutorials or demonstrations to provide additional support and explanations for difficult topics. These videos are shared with students for self-paced learning and revision.
Another field which videostreaming seems to have greatly benefitted is dancing. Dancers create video tutorials and dance classes targeting different skill levels and showcasing their unique choreography. These videos can be sold or shared on platforms specialized in dance education, allowing dancers to reach a broader audience and generate revenue.
Video streaming plays a vital role in the growth and success of content creators. Several content creators have used video tutorials and how-to guides in their respective niche areas to keep their audiences engaged and entertained.
These examples demonstrate the versatility of pre-recorded video streaming in various industries and how it can be leveraged by small-scale businesses. So, whetheryou're a tutor, thought leader, filmmaker, musician, health and fitness instructor, or any other professional seeking to distribute content, internal or external communication, or actively launch new products, incorporating a video streaming service into your business model is a strategic move that can yield remarkable results.
Is investing in a video streaming website or app a good idea?
Video streaming dominates the digital landscape as businesses adapt to limited physical interactions. McKinsey & Company confirms a rapid shift towards engaging with customers through digital channels. Compared to the pre-pandemic era, there is a threefold increase in businesses stating that 80% or more of their customer interactions now occur online.
Here are some ofthe reasons, (we can talk about it all but then we don’t want you to keep scrolling till eternity), with stats as to why investing in a video streaming website or app is a great idea for your business-
1. The Rising Demand for Video Content:
Video consumption has experienced remarkable growth in recent years. According to Cisco, video traffic isprojected to account for 82% of all consumer internet traffic by 2022. This trend presents a significant opportunity for businesses to leverage video streaming platforms and capture the attention of their target audience.
2. Enhanced Engagement and Brand Awareness:
Video streaming allows businesses to connect with their audience on a deeper level, resulting in increased engagement and brand awareness. According to a survey by Wyzowl, 89% of consumers have been convinced to make a purchase after watching a brand's video.
Moreover, videoshave a higher retention rate compared to other content formats. Viewers tend toremember video content better, which helps reinforce brand messages andincrease brand recall.
3. Expanded Reach and Global Accessibility:
One of the major advantages of videostreaming is its ability to transcend geographical boundaries and reach aglobal audience. With the advent of streaming platforms, businesses can nowshowcase their content to viewers worldwide, breaking the limitations of traditional distribution channels.
Furthermore, the proliferation of mobile devices has made video content easily accessible to users at any time and from anywhere. As per a report by Statista, Ericsson expects mobile video traffic to account for about 80% of the total mobile traffic by the year 2027. This number is expected to triple once again in the next five years, underlining the immense potential for businesses to tap into this mobile-driven audience.
4. Monetization Opportunities:
Video streaming opens up variousmonetization avenues for businesses. By leveraging platforms like Skara, businesses can generate revenue through subscription-based video on-demand models. The revenue potential of video streaming is substantial, with Statista projecting the video streaming market to reach USD 95.35 billion by 2023, with the average revenue per user coming around USD 73.55.
Today, most of the population consumes video content, giving you immense scope to disseminate streams into various mediums & platforms. Hence, when you learn to aim every bit of your target-centered audience using your strong business sense & energy put in to deliver the best experience, you’ll discover loads ofuntapped potential to power up maximum income.
5. Analytics and Insights for Informed Decision-Making:
Video streaming platforms provide businesses with comprehensive analytics and insights to measure performance, understand audience behavior, and make data-driven decisions. These insights allow businesses to refine their content strategy, optimize user experience, and identify new growth opportunities.
Platforms like Skara offer detailed analytics, including viewer engagement metrics and viewing patterns. Armed with this information, businesses can create targeted content, tailor marketing campaigns, and improve overall customer satisfaction.
6. Flexibility and Versatility of Content:
Video streaming platforms accommodate a wide range of content types, allowing businesses to showcase their products, services, and expertise creatively. From product demonstrations and tutorials to behind-the-scenes footage and thought leadership videos, businesses can leverage the versatility of video content to engage and educate their audience effectively.
7. Increased Market Growth & Adoption
As per a report by Businesswire, the worldwide video streaming business is expected to reach a value of $184.3billion by 2027, indicating its growing popularity and demand. Another study byDeloitte found that 55% of U.S. households now subscribe to at least one videostreaming service, highlighting the widespread adoption.
Furthermore, a survey conducted by Pricewaterhouse Coopers (PwC) revealed that 68% of respondents consider video streaming as their primary source of entertainment, surpassing traditional television. The survey also highlighted convenience, affordability, and personalized recommendations as the top reasons why users prefer videostreaming.
BottomLine
With the rise of video-sharing platforms like YouTube and the popularity of streaming services like Netflix, businesses have recognized the immense potential of video to engage and captivate audiences. The aforementioned statistics speak for themselves. As the popularity of video content consumption continues to soar, it becomes a lucrative avenue for companies to explore.
Video streaming is undeniably profitable and beneficial for businesses. As the demand for video content increases, businesses can enhance engagement, expand reach,and enable effective monetization. With the ability to measure performance through analytics and the flexibility to create diverse content, video streaming solidifies its position as a valuable tool in the digital landscape. By embracing video streaming, businesses can capitalize on this thriving medium and elevate their brand presence in the digital world.
Where can I build my own video streamingservice?
Now since we all agree that video streaming is a great addition to your business strategy, let’s talk about Skara which is a platform where you can easily build your video streaming website and application.
Skara is acutting-edge no-code platform that empowers video creators, production houses, and businesses of all sizes to establish their own VOD/OTT websites and apps. By utilizing Skara, businesses can easily build a community around their target audience, reduce costs, and amplify their growth potential using video content as a growth medium.
How Skara Makes Starting a Video Streaming Service Effortless
For those who are aware of the ever-evolving no-code ecosystem, simply said, Skara is the Shopify of video streaming services. But technically speaking, there’s much more to it now, and far more to roll out in the future. Skara provides the necessary infrastructure as a platform for businesses to build their own VOD/OTT websites and apps. With Skara, the barriers to entry are significantly lowered, allowing businesses to quickly enter the videostreaming revolution and start capitalizing on its potential. Here's how Skara simplifies the process:
1. Skara Helps You Build Your Own Website and App
Skara empowers businesses to create their own video streaming website and app for out-of-the-box. These can be customised to match the brand. You don't need to be a tech expert or invest resources in web development. Skara's user-friendly interface and intuitive tools make it easy for everyone to get on the platform and launch their app. It's a platform designed to democratize video streaming, allowing anyone with compelling video content and an audience to establish their presence in the digital world.
2. Create Your Own App in Minutes
Unlike other platforms that may take days or even weeks to create a video streaming website or app, Skara streamlines the process, enabling you to build your app, not in days or hours but minutes. This saves valuable time and resources, allowing you to focus on creating and delivering high-quality video content to your audience.
3. Custom Subscription Plans for Subscribers
Skara offers businesses the flexibility to create their own subscription plans tailored to their target audience. Whether you want to offer free or paid content, Skara's robust subscription management system allows you to curate an experience that meets the unique needs of your viewers. This monetization potential opens doors for businesses to generate revenue and grow their income streams.
4. Pay Only for Subscription and Services
Skara offers a transparent pricing model where businesses are not charged for the white-labeled website or app. Instead, there is a monthly charge for the number of hours of video content you upload and a monthly per user cost. This allows businesses the freedom to scale their video streaming operations as they like, making it a win-win situation for all as Skara's pricing model is designed to align with the growth of your business. That also makes it a cost-effective solution for businesses of all sizes.
5. Seamless Video Playback andStreaming Experience
Skara provides aseamless video playback and streaming experience for your audience. The platform utilizes adaptive streaming technology, ensuring that your videos are delivered in the best quality possible, regardless of the viewer's device or internet connection. This reliability and high-quality streaming enhance viewer satisfaction, encouraging them to stay engaged with your content.
6. Built-in Analytics andInsights
Understanding your audience and their viewing behaviors is crucial for optimizing your video content strategy. Skara offers built-in analytics and insights that provide valuable data about your viewers, such as their viewing patterns, engagement metrics, and subscription preferences. These analytics empower you to make data-driven decisions and refine your content to better meet the needs and preferences of your audience.
7. Community Building andInteraction
Skara lets you build a community around your video content by cultivating a loyal audience base that will support your business growth and multiply your reach. The appand website you’ll build through Skara will connect you with your dedicated subscribers. These subscribers are interested in what you do and want to see more of it. Building engaging content for your subscriber community fosters a sense of belonging in them.
8. Branding and Customization
Maintaining a consistent brand identity is essential for businesses. Skara offers you a set of themes you could pick from to create a cohesive brand experience for your viewers. You can upload your brand’s logo, social share image, along with the background image for your app and website. This branding flexibility helps strengthen your brand image and enhances recognition and trust among youraudience.
Conclusion
Integrating a video streaming service intoyour business model can fuel your growth by tapping into the widespread popularity of video content. Skara provides the tools and infrastructure necessary for businesses to establish their own VOD/OTT websites and apps effortlessly. With features like website and app creation, custom subscription plans, seamless streaming, analytics, community building, and branding options, Skara empowers businesses to harness the power of video streaming and forge meaningful connections with their audience. Embracing this digital transformation enables businesses to stay ahead, drive engagement, and unlock new revenue streams for long-term success.
Leverage Skara's platform to reduce the go-to-market time, lower costs, and customize yourservice to suit your brand. Don't miss out on the opportunity to tap into the growing demand for video content and take your business to new heights.
FAQs
To address common questions and concernsabout starting a video streaming service with Skara, we've compiled thefollowing FAQs:
1. Is it necessary to have the technical expertise to start a video streaming service with Skara?
No, Skara is designed to be user-friendly, allowing businesses to launch their videostreaming service without extensive technical knowledge. The platform provides intuitive tools and an easy-to-use interface.
2. Can I customize the appearance of my video streaming website and app on Skara?
Yes, Skara offers customization options that allow you to personalize the look and feel of yourwebsite and app. You can align the design with your brand identity and create a cohesive user experience.
3. How can I monetize my video contentusing Skara?
Skara provides a Subscription Video-on-Demand option that’ll give access to your videos to viewers for a certain time period in exchange for a fee. You can create your own subscription plans based on your business strategy.
4. Is Skara suitable for both small businesses and large enterprises?
Yes, Skara is designed to cater to businesses of all sizes. Whether you're a startup or an established enterprise, Skara's platform and infrastructure can accommodate your needs.
5. Can I reach a global audience with Skara?
Absolutely! Skara's platform enables businesses to reach a global audience, allowing them to expand their reach beyond geographical boundaries.
6. Does Skara offer analytics and insights to track the performance of my video content?
Yes, Skara provides analytics and insights to help you track the performance of your video content. You can gain valuable insights into viewership, engagement, and user behavior to refine your content strategy.
