The video streaming market is growing exponentially in recent times. The global video streaming market will grow at a CAGR (Compound Annual Growth Rate) of 21% by 2028. One can witness many ‘cord cutters’ around that have shifted from the traditional pay-tv model to video streaming platforms.
Millennials and young people prefer video streaming platforms for various content, including news, sports, entertainment, etc. Choosing a video streaming solution for your business/brand may not be easy as there are many options to choose from.
Read on to know about the seven questions to ask before selecting a video streaming solution.
1. Is the Video Encrypted via AES?
AES (Advanced Encryption Standard) will aid in encoding the video content. Only authorized users can view the video content if the streaming platform uses AES. It encrypts each stream via a unique key that is only with the user. Any hacker doesn’t have the respective key and cannot intercept the video content being streamed. AES scrambles the video content that is useless without the required key. Only authorized viewers with a secure HTTPS connection can use the unique key to de-scramble the video content. Content piracy can be easily stopped using AES video encryption.
Enabling AES protection for your video streaming platform is very easy. If you are using a dashboard for controlling the video content, you can quickly turn on/off the AES video encryption. Choose a video streaming solution provider that offers AES video encryption for slashing piracy.
2. What Are the Streaming Models Supported?
Choose what type of videos you want to stream before launching a video streaming platform. You may want to stream podcasts or movies & TV shows.
You may choose a subscription-based model like Netflix and can also launch physical products related to the brand. There are many video-streaming models, and you have to choose the right one to target audiences.
Analyze your target audience and launch a streaming model that they most prefer. Choose a solution that supports all models and can fulfill the video streaming monetization needs in the future.
Choose a streaming model that can help you scale up in the future.
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3. Is the CDN Reliable?
Besides encrypted video streaming, you will also have to ensure that the video content is delivered to users without any delay. A CDN (Content Delivery Network) helps deliver content to the users without any delay with the use of distributed servers.
Before choosing an online streaming platform solution, make sure it has nodes near your target audience. It reviews the user’s geographic location and delivers the content from the nearest node/server. This practice ensures that the users can access the video content without any buffering or lag.
With a CDN, you can handle multiple user requests simultaneously. While choosing a video streaming solution, you should discuss the stability of CDN with the provider.
4. Is There a DRM System?
You will have to prevent your digital content from being pirated or being accessed by a hacker. In the video streaming industry, DRM (Digital Rights Management) system is used to encrypt the video content. Content publishers can set rules to control the viewing of their content via DRM.
Via DRM, you can block your content from being viewed in any country/city. You can block users from casting the video content to some other screen via DRM. The content on your online video platform must be prevented from being misused/pirated. You can safeguard your video content from copyright breaches by a DRM system.
Make sure to discuss the DRM features with your video streaming solution provider.
5. What Are the Monetization Models Offered by the Provider?
While developing a video streaming platform, you need to choose a suitable monetization model. Video monetization platforms are based on various models for generating revenue. Always choose a video streaming solution that offers multiple monetization models.
You can use the Advertising (AVOD) model to run advertisements from third parties across your channels. A subscription (SVOD) based model can also be used that allows users to pay for yearly/monthly access to the video content.
The Transactional (TVOD) model is used by content publishers that let users pay for any particular content and obtain limited or lifetime access to the same.
There are other monetization models like SSAI (Server-Side Ad Insertion) or Third-Party Ad Integration. Know about customer demands and select a content monetization platform accordingly. Currently, the SVOD model is being preferred by content publishers around the globe.
6. What Are the Compatible Devices?
Ideally, you would want to stream your video content to all available devices. Some viewers prefer mobile devices, while some want to stream videos on smart TV. You do not want to miss out on any section while creating an online video platform.
Choose a reliable partner that can help you build an online video platform compatible with various types of devices. New OTT devices are being launched now and then.
As a content publisher, you should choose a scalable online video platform that lets you fulfill the ever-growing demands of users/viewers.
7. Is There High-End Analytics?
Videos have a high conversion rate, and many businesses have opted for video marketing. As a content publisher, you would want to measure the performance of your videos at regular intervals.
You should use a video streaming server software that provides high-end analytics. It can aid your content creation efforts better by providing you with the required user insights.
Analytics will help you in knowing the top-viewed videos or the most used device for streaming. You can learn about customer behavior and can provide them personalized streaming services.
Analytics helps us in identifying opportunities and customer demands to stay ahead of competitors. While building an online video streaming platform, one should be able to extract rich insights via data analytics.
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Choosing an online video platform may seem tricky, but you can use the questions answered here to achieve that effectively. You don’t necessarily need to opt for the most popular streaming solution. Choose a streaming solution that fits with your business and is scalable. Start building your online streaming platform!