The online video streaming website space is now very competitive with many players including major media houses competing with indie creators. The revenue from video streaming has reached billions of dollars in 2020 and is set to grow further to $247 bn by 2027. More people are looking to build video streaming sites of their own.
There are many ways to go about doing this which can cause the aspiring creator to get confused. Having an in-house development team gives the most amount of control on the OVP platform but is also extremely expensive. There are multiple delivery platform providers for those who cannot or don’t want to take the DIY route.
We have compiled the top features that any white-label streaming solution should offer. It can be difficult to make such a big investment when there is the fear of needing to put more money in if a crucial feature is missing. A worthwhile online video platform will offer all of these along with the opportunity to customize more unique ones for your needs.
Necessary Features to Create a Video Streaming Website
When you are buying a white-label video streaming platform, the most important requirement is to be customizable. It must support design customizations, from colors to logos to have the buttons on point with brand aesthetics. You should get the design support from the builders or be able to do them yourself.
Customization will also extend to adding new features, integration with 3rd party platforms, adding payment gateways, registration modules, subscription and billing systems, etc. Nowadays a video streaming app or site is incomplete without the integration of customizable analytics suites.
All of this will help you stand out from the competition (most of whom will also resort to pre-built white-label OTT solutions).
2. On Cloud/On-Premise Hosting
Based on your streaming requirements, your video streaming platform should be able to host the content database on the cloud or your premises. You should have both options.
If you choose cloud storage then the advantages include regular backing up of the data which means you will never lose any. You also have to just pay for the resources needed, so it may work out cheaper if you don’t have massive streaming technical specifications to follow. The third-party provider undertakes the responsibility of security for storage.
If you have massive requirements, you may prefer on-premise hosting. The advantage here is that the resources can be ready to deploy instantly within your own IT infrastructure.
3. 3rd Party Service Integration
As mentioned already, being able to integrate third-party services is a key feature of the white label OTT solution. You may need more functionalities than the bare-bones video streaming solution; especially considering the competition being identical. Nowadays, some video production teams prefer integrating three types of revenue model capabilities.
Further, users may also want to have the app/site integrated with third-party functionalities. Offering a good API (Application Programming Interface) lets them personalize it and connect to other devices. An example would be the Netflix Watch Party which initially was an extension that proved so popular that many streaming platforms picked it up.
4. Inbuilt Video CMS
You can’t have a good online streaming platform without a great in-built content management system. It has benefits for the content owners and the viewers. It makes the content accessible, easy to search and categorize. This makes it easier for people to discover favorites. Content creators can likewise sort out and organize content to be proffered in a better promotional way.
A good CMS has features like categories, quick search, tags, user-friendly and intuitive navigation, voice search, ratings and comments, playlists, watch history, etc. Offering these features early on is a plus point before the content library becomes harder to manage.
5. HLS Video Player
HLS and HTML streaming protocols have become popular and preferred over other varieties. Being open specifications, users can modify them as they like and access them at no cost. This is a key feature of an affordable white-label OTT streaming solution. For content creators, these players are safer, quicker, more stable, and more efficient than earlier streaming protocols.
HLS players allow easy live streaming as well as streaming from a pre-recorded source stored in a database. It is compatible with all devices and maintains the streaming regardless of the bandwidth changes by adapting the quality.
6. Multiple Monetization Models
There are three popular monetization models:
- AVOD (Advertising Video On Demand)
- SVOD (Subscription Video On Demand)
- PPV (Pay-per-View), also called rental model.
A good streaming platform should support all three options, at the same time, if that is how you like it. The payment gateways should be well-integrated to support this capability. The SVOD revenues are projected to grow significantly to about $71 bn in 2021, especially in developed markets and you may want a share of this pie.
Advertising-based models come next in popularity and work out very well for high demand platforms. YouTube is now attempting to induce conversion to an SVOD model by enticing with removal of ads.
7. DRM & Security
It is of utmost importance that all standard security protocols and encryption standards should be in place, not just with using digital rights management to prevent copyright infringement but also to protect your users’ privacy. The security procedures and equipment need to be scalable.
8. Video Marketing
Marketing is a vital part of any product launch today and becomes a basic consideration in how to make a streaming website. It can begin even before your content library is fully decided. Therefore, the online video platform must have it as a feature. Free trials, discount codes, etc. should work seamlessly.
Being able to integrate with learning management systems (LMS), video conferencing systems, and customer relationship management systems (CRM), itself is a great marketing selling point.
9. Video Analytics
You cannot choose any OVP platform that does not have analytics tools anymore. Analytics is essential for you to know how the videos are performing. You can find out patterns of engagement, details about devices, watch times, etc. This data helps you make effective business decisions. If you allow third-party content creators to manage their own channels on your site, they will want advanced analytics capabilities.
These features are necessary to provide a stellar interactive experience. It’s becoming harder to retain users especially if you prefer an SVOD monetization model and hence the best OTT streaming solution like VPlayed will make your job easier.
Spending money on a barebones, low-quality streaming website builder can cost you a lot to retrofit, not to forget the losses from the time delay in deployment and product launch.