To say that the global video-on-demand (VoD) market is booming would be an understatement. From $53 billion in 2019, it is projected to reach $159 billion by 2027, growing at an astounding CAGR of 14.8%, according to a report by Fortune Business Insights.
The catch-all term for the next generation of entertainment, VoD services allow audiences to access content (music, movies, sports, news, education, and even TV programs) at their own pace and on their device of choice. And this flexibility is much appreciated — on-demand viewing is up 155% year-over-year.
Growth of live and VoD viewing
Netflix, Disney+, Hulu, Prime Video are all stellar examples of top VoD platforms. Netflix alone boasts of 208 million subscribers. With that, many households have more than one streaming services subscription, which is good news for those who decided to join the VoD party.
A lot goes into building a successful VoD strategy. One of the first — and most important — decisions is to choose your VoD hosting solution as it is the foundation of any VoD business. Free platforms like YouTube and Twitch are great for vloggers but if you need security, scalability, and monetization features, these consumer-grade solutions won’t fit the bill.
Custom-built VoD solutions, on the other hand, can give you all that and more. Built from the ground up, these VoD platforms are tailored to meet your unique business requirements, whether it is massive scalability, next-gen personalization, or advanced monetization opportunities.
Online video is our forte. We leverage our experience with the market’s leading OVP vendors, such as Kaltura, Ooyala, and Brightcove to build highly scalable VoD solutions that deliver TV-like viewing experiences to global audiences. From transcoding and video management to protection and distribution, we take care of the entire VoD workflow so you can focus on growing your business.
Another option is to choose a ready-made VoD platform. As there is no shortage of these platforms on the market today, here’s an overview of the most popular options with their pros and cons.
Founded in 2006, Kaltura offers a range of video-related services and products for media, telecom, and education domains. One of Kaltura’s main offerings, the Video Platform as a Service (VPaaS) is built around a set of comprehensive APIs and mobile SDKs, allowing broadcasters to create their own video workflows.
Brightcove is a global leader in video business, serving the broadcasters’ needs since 2004. Its high-end video platform comes fully loaded with tools for medium and large-size media companies to host on-demand videos and stream live events.
Wowza, another major player on the video streaming landscape, offers flexible and fully customizable media server software called Wowza Streaming Engine. The white-label video player allows broadcasters and media companies to deliver branded viewing experiences at scale.
Dacast is a cloud-based video streaming platform popular among broadcasters and media companies. This highly flexible solution offers all essential features while full API access enables companies to create customized workflows or add unique features.
Muvi is an all-in-one OTT platform that allows content owners to launch multi-screen VoD solutions in a hassle-free way. It comes with visual editors and built-in templates (although limited) that enable organizations to customize their video services. The platform leverages AWS and Cloudflare CDN for global content delivery.
A multinational tech corporation, IBM offers a comprehensive cloud-based online video platform that covers all video needs from transcoding to multi-platform playout. One of the main selling points is closed captioning capabilities powered by Watson, a self-learning assistant.
One of the popular VoD service providers, Uscreen is an all-in-one video platform that enables media businesses to stream their content safely and globally. This SaaS solution has an intuitive interface that is easy to use even for users with little technical expertise.
Setplex offers a flexible OTT/IPTV solution with the focus on delivering great UX/UI across platforms and devices. Deployed on-premise or in the cloud, the platform is managed from a unified dashboard, offering full control over workflows from ingestion to playout.
Vidizmo’s on-demand video streaming and hosting platform is called EnterpriseTube. This YouTube-like video portal comes with a highly customizable video player compatible with almost all devices. In addition to standard functionality, Vidizmo includes interactivity options like editable transcripts, multilingual captions, frame-by-frame video seeking, and more.
CONTUS Vplayed is a ready-made white label VoD solution designed for broadcasters, TV channels, production houses, and more. Built on AWS, the highly scalable platform ensures reliable VoD hosting while supporting video databases, user management workflows, and analytical workloads.
We have discussed top 10 VoD platform providers but the list can easily go on. Given this variety of VoD offerings on the market, choosing the right one may not be a straightforward process.
Depending on a VoD project at hand, your priorities can also vary from highly customizable video player to industry-specific integrations to even the price tag. But as the rule of thumb, a VoD platform needs to provide the following functionality to ensure a competitive edge for a media business:
There are cases when ready-made solutions just won’t cut it. Even the best VoD platforms can come with limited or half-baked features while others appear to be excessively complex or lack customization opportunities. Then, there can be unexpected costs once you start using the platform and growing your customer base.
Custom approach can be the right choice for those who need a fully tailored VoD solution — and have full control over it. Built from scratch, your VoD platform will have a unique brand look and feel while supporting all the features you and your viewers need.
To drive the client’s on-demand entertainment strategy, Oxagile developed a user-focused VoD solution featuring content management functionality, advanced search, rich advertising capabilities, and more. With the new refined UI, the platform delivers equally compelling user experience on desktop and mobile, allowing the client to significantly increase its market reach.
In the era of cord cutting, the VoD market has emerged as a successful revenue generator for content providers and media companies across the world.
If you decide to launch a VoD service, there are a lot of VoD hosting platforms on the market today. Built for different areas of application, they all come with their own strengths and limitations. So, take your time to do your market research and compare available VoD offerings. If nothing matches your unique VoD project needs 100%, it would be a wise idea to invest in development of a custom VoD platform tailored to your specifications. This way, you don’t have to compromise on branded UI, scalable architecture, or a set of features.