6 Tips For Launching a Successful SVOD Service

Statista revealed, ‘’Revenue in the Video Streaming (SVoD) segment is projected to reach US$82.43bn in 2022.’’ SVOD (Subscription video on demand) is a popular revenue choice amongst business and video content owners. SVOD services have benefitted the above two individuals with a better revenue drive and a payment medium that is here to stay. 

The online VOD platform is booming and has a future to evolve and grow twice more. While multiple revenue models are available, setting up an SVOD subscription service makes it more profitable. So, if you’re looking to reap maximum benefits from the subscription business model, this blog covers all the information related to how to build a subscription business. 

6 Tips To Remember When Setting Up SVOD Platforms

Before you can get started with your SVOD services, it’s important first to identify how you can make the plan of action. Thus after researching the best SVOD players in the market, here are six tips you can use to build an SVOD subscription service in 2022 successfully:

1. Select a VOD platform

As stated earlier, multiple VOD revenue models are available such as SVOD, TVOD, AVOD and more. Each of these models has its perks. For instance, with TVOD (transactional video on demand), you can charge a user for every VOD content they watch. With AVOD (advertising video on demand), you can drive revenue from ads. 

While these work well, for users to get acquainted with your SVOD services, they first need to invest, observe and understand your platform better. This is exactly why SVOD video-on-demand model works better. Before you can continue further, always choose a revenue model that will suit your business in the initial stage and help drive better growth. 

2. Find your category

Now that you have the VOD platform selected, it’s time to identify what your business will sell. There are multiple SVOD players in the market. Most of them are doing well, while the others are working on catching up with the competition. Learning from them is good, but doing the same as them will only push you to the backbench. 

Every business is unique, so you must first analyse what your business USP is. What is it that makes your business unique? Why should your user invest in a monthly subscription service with your business?

When you answer this, it becomes easier to find the category and highlight the same to sell it. This will also help drive better SVOD revenue from your platform. 

3. Plan your pricing

Before you plan your SVOD revenue, there is one factor to consider when deciding on the pricing models. 

The purpose of SVOD is to allow your users to learn about your brand for the subscription time period. This period will help them understand what your brand offers in terms of VOD content and what makes this investment valuable. Thus when deciding the pricing, you need to keep certain other factors in mind, such as:

• Value of content being offered for a price
• Is your pricing better than what your competitors are offering
• What pricing plans will you offer?
• Will this pricing suit your target audience?
• Can this pricing help increase revenue?
• Will this pricing give you profits? etc

When you understand all of these, it becomes easier to set a price. Prices can also change based on the countries as well from where your target audience belongs, so you should consider all aspects. 

4. Invest in VOD platform experts

Creating SVOD platforms from scratch might sound great, but the process is tiresome. As a business or video content owner, there is more to this simple investment. You need to add features, personalization, etc., which can cost you more money. 

Thus instead of spending in this manner, wouldn’t it be great if you found all of this in one place? Today the market has multiple video monetization platform providers that offer everything you need for your SVOD platforms at an affordable rate. They even offer several features, personalization options and more, making it convenient to setup your SVOD services. 

5. Plan your distribution process

Now that you have everything ready, the next step is to plan how will you bring your product into the eyes of your target audience. Given that this is a VOD content platform, the best way to get started with your subscription video on demand service is via a website. 

A website works to help users explore your brand, see what you offer, and make an initial investment to try the same. As you continue to scale, start building mobile apps to bring better convenience for your users. 

6. Conduct regular tests

Lastly, before you sell to your target audience, ensure that you check everything. You have one chance to create a long-lasting impression amongst your audience, which is why it needs to be right. Before you launch any of your SVOD platforms, ensure regular mock tests are conducted for the same. 

Conclusion

SVOD services have benefitted multiple businesses and video content owners. Since it is a popular form of choice, driving revenue from this platform alone can give you better growth numbers. Now that you’re aware of how to build a subscription business, it’s time to set up SVOD platforms. Investing in an SVOD platform provider is better, as these experts can offer better features and enhance your platform. So tell us, when do you plan to get started?