Every business strives to become successful, have a huge user base, and generate as much revenue as possible. However, in the video streaming industry, a great deal of success depends on the IPTV broadcasting software you use to operate on. The features and functionality vary from platform to platform. That’s why it is better to do a thorough analysis of what features you will need and research what the market offers.
We are going to list the features we find profitable and recommend video streaming businesses to take advantage of them.
What are the features of the IPTV platform a business can benefit from?
1. Applications
As people are using different devices throughout the day, it is better for an IPTV service provider to offer IPTV apps to use. You will be able to increase viewers’ attendance on the platform. There will be more chances that they will view your videos if you let consumers use any device they want and have.
You should consider the fact that people have different preferences and opportunities. For example, some don’t use a device other than a smartphone in their daily life. You won’t be able to attract these people to your service if you don’t offer an app.
Furthermore, many people prefer watching videos on Smart TVs. They enjoy high-quality pictures and an immersive sound. They are also a segment it is better to cover.
Applications don’t operate well without the IPTV encoder software. It is essential that a video is adapted to the technical requirements of the device a viewer uses to watch it.
2. Monetization
If you are starting an IPTV video streaming business, you likely want to monetize your content. That’s why it is better to have a platform that can provide different monetization models.
- Ad-based money-making approach. In this case, content is usually free of charge for viewers. But a content maker generates money by allowing third-party businesses to run their ads on the platform.
- Subscription-based revenue-generating model. People purchase a monthly or annual subscription and get unlimited access to video content on the platform. The subscription can be canceled at any time or renewed at the end of a payment period.
- Transactional-based monetization model. It is also known as a pay-per-view monetization approach. Viewers pay for a video they want to watch now, and the rest of the content stays inaccessible.
You should know that researchers and experts are now talking about the growing use of hybrid monetization approaches. For example, the combination of an ad-based and a subscription-based model is generating a lot of buzz now.
Netflix and similar huge video streaming service providers are launching such a possibility to slow down customer churn. They will offer viewers to choose between two packages. People will be able to pay for a subscription with or without ads. The payment plan with ads will cost a lower price than the plan without ads.
Besides ad and subscription combination, you can mix a pay-per-view approach and subscriptions. You can let viewers choose where they want to purchase a subscription or pay for a single video. Or you can divide your content into two categories: videos available on a subscription and premium content that requires additional payment.
3. Analytics
Analytics is always a good thing. It offers a lot of data to boost your service performance and reduce customer churn.
Analytics can provide you with information about your service operation – what is working well on the platform and what problems occur. You will be able to solve it and increase user experience.
Moreover, analytics provides data on the content you publish. It will make it clear what videos are popular on the platform and what videos your audience doesn’t like.
What else? Analytics data can provide you with insights about your viewers. You will have a more detailed image of your audience.
Use this information constantly to grow your platform and enhance it. Don’t neglect analytics.
Final Thoughts
Every business wants to become successful, but it is a great deal of work. Luckily, in the video streaming industry, a lot depends on the video streaming solution a provider obtains. It will define the monetization model you will use, operational flow, and many other features that can increase user engagement.
We recommend you contact Setplex. The company develops an end-to-end solution for video streaming business enthusiasts. The solution includes everything you need to achieve your business goals. The team will also answer all questions and help launch.
