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The video streaming industry is growing at a rapid pace making it one of the most profitable industries to start a business in. As stated by a recent market report, the global video streaming industry is set to surpass US $1,721 billion by 2030 while growing at a CAGR of 18.45% during the forecast period of 2022 to 2030.
To give you a glimpse of how profitable this business is – the subscribers count of Netflix has surpassed US $223 million, while the same for Amazon Video, Disney+, and Hulu are over US $200 million, over US $164 million, and over US $45 million respectively in 2022.
Not just the leading streaming businesses are leveraging the high market scope, but the new entrants are also making their place to make the most out of it.
If you are planning to start your own white label Video on demand (VOD) platform in this sector, then now is the best time to launch your own white label VOD platform to explore the growing opportunities. Read on to know more to get started!
What Is a White Label VOD Platform?
VOD or Video on Demand is a media distribution system or technology to deliver various video content like movies, shows, webseries, and others to the viewers as per their requests. Unlike live streaming, the viewers can view these pre-recorded video content as per their convenience.
A white label VOD platform refers to your own branded VOD platform like Netflix, Hulu or Amazon Prime Video that offers diverse types of video content to your viewers. Next, we will delve deeper into why you should launch your own white label VOD platform in case you are still wondering.
Why Should You Launch Your Own White Label VOD Platform?
Launching your own white label VOD platform has unlimited advantages. Let’s have a look.
1. Rising Market Potential
Be it video streaming apps or websites – the global market potential is high. As per a recent report, the global video streaming app industry revenue is set to surpass US $115 billion by 2026 from its benchmark of US $72.2 billion in 2021.
Statistics says that more than 80% of the US households are subscribed to minimum one streaming subscription while 27% of the global users claimed in a recent survey that access to exclusive digital content is the key driver to take streaming subscriptions.
These figures are just a few glimpses of the high potential of the VOD streaming industry that you can leverage by launching your own white label VOD platform.
2. Wide Audience Base
By launching your own white label VOD platform, you can target the wide pool of global audience irrespective of your location or time zones. The online video consumption has grown significantly over the past years with the rising usage of smart devices, increasing internet penetration, and high demand for exclusive video content.
Statistics say that over 92% of the global internet users watch videos every week while videos are the number 1 source of entertainment and news for more than 65% of the people. Launching your own white label VOD platform will let you leverage these opportunities to build a profitable video streaming business.
3. High Scalability
Not only is a video streaming business highly profitable but it offers high scalability as well. You can easily expand your white label VOD platform across continents, add more variety of content to your platform, or offer multiple new plans to cater to the different preferences of the audiences.
You can also easily launch your white label app or channel for various other smart TV ecosystems and scale your business up smoothly.
4. Stronger Brand Recognition
Creating your own white label VOD platform helps you create a distinguishable brand presence. By opting from the top white label VOD services providers, you will have the liberty to run your VOD platform only under your brand name and not under the platform provider’s name.
This in turn will boost your brand presence and cater to your business growth. Pro tip: always opt for a white label VOD services provider that offers you 100% royalty with no royalty sharing at all!
Build Your Own White Label VOD Platform Easily: Steps to Follow
Now that you have a better understanding about why you should launch your own white label VOD platform, let’s walk you through how you can launch it easily. There are mainly three ways to do it-
1. Build on Your Own
To build your white label VOD platform on your own, either you need good technical knowledge or you need to hire an in-house team. You need to ensure that you are choosing the expert professionals with real-time experience and knowledge to build white label VOD platforms.
While having in-depth technical knowledge is a must, they also need to have the proper market experience to ensure that your white label VOD platform is positioned well in the present market.
However, you need to be cautious while choosing the developers. Also, another con is that there will not be any technical support in future. Unless you have enough time and a high budget, this may not be a suitable option for you.
2. Hire a Development Company
While hiring a development company may seem to be easier, in the long run it may not be that convenient. To support, maintain, or upgrade your platform, you need consistent technical support that can be missing in this case.
Furthermore, this option may create more dependency on the third party development company while costing you more time and money in the end.
3. Opt for a VOD Platform Provider
Opting for a top-notch white label VOD services provider can be the best option for you to launch your own white label VOD platform. If you choose a no-coding VOD platform provider like Muvi, then it will be easier than ever for you to launch your own white label VOD platform even without writing a single line of code.
Not only can you be assured of Muvi’s round-the-clock technical support but can leverage its competitive solutions like multiple monetization models, easy metadata management, in-app purchases, simple social media integration, user engagement tools, and many more.
Here’s the detailed steps of how you can launch your own white label VOD platform with Muvi just through a few button clicks.
Sign Up & Do Initial Set Up
1. Visit the Muvi Sign Up page, fill out the form, and then click the Next button. You will be directed to the CMS site once your free trial account is set up.
2. Choose a subscription plan by clicking the “Purchase Subscription” button. You can change/upgrade it whenever you want.
3. Select your desired payment gateway under Monetization → Payment Gateway and then integrate it with your account.
Configure & Manage Your Content Library
1. By choosing Manage Content → Manage Metadata, you can add content categories for your platform. You are free to add, edit, or remove categories and subcategories.
2. Click the Add Content button after going to Manage Content → Content Library. Specify the necessary details and upload the content file.
3. Click the Add New Cast/Crew button under Manage Content → Manage Cast/Crew. After providing the necessary information, click Save. By selecting the Manage Data Fields button, you can also create custom fields.
Customize Your VOD Platform
1. Choose your preferred template for your streaming platform by navigating to Website → Templates → Manage Template.
2. To customize your home page, go to Website → Templates → Home Page and update your logo, banner, and featured content.
3. You can customize your video player into a white label one with a logo, enable subtitles, add watermark, etc. by just navigating to Player.
Monetize Your VOD Platform
1. To add your preferred subscription plans,go to Monetization → Subscription and click the Add button to add a subscription plan. You can add as many subscription plans as you want as well as can add/delete/modify them as required.
2. To set a pay-per-view (PPV) plan, navigate to Monetization → Pay Per View and set PPV amount for all single and multi-part content. You can also create PPV categories and then assign your preferred video content to it.
3. You can also earn more revenue by running advertisements between content. Just go to Monetization → Advertisement and integrate your ad server like Muvi Ads to assign ads to your video content.
Go Live!
You are all set to go live with your own branded white label VOD platform!
Also, you can launch your native streaming app across 14+ growing platforms including Roku, Android TV, Apple TV, Fire TV, and many more!
Yet to make a decision?
You can sign up for a 14-day FREE TRIAL to get started today and try it firsthand!
