Have you ever dreamed of owning a streaming service, such as Netflix or Disney+?
Well, you’re not alone.
On-demand streaming services are incredibly profitable. They are also highly scalable, and the operational costs are nothing compared to the revenue.
In this post, we reveal the secrets of launching video streaming services. Here, we will cover the most critical parts of the project.
Get the App Right
There are a lot of things to consider when building a streaming service.
To begin with, find a niche for your business. The idea is to target a section of the market, and keep viewers entertained. Once you have that in place, get a team of developers to make apps for phones, TVs, and the web.
Find a Suitable Host
Hosting is a big part of this business model. A good host will guarantee 99 percent uptime, unlimited support, and flexible bandwidth options. And that’s what you’ll need to run a successful streaming service. You can visit internet vikings to check out the available options for an on-demand video service.
Acquire Licences
Just like any other legit business out there, you’ll need licenses to monetise content. You can rent out movies from authorised distributors, or contact the copyright holder directly. While both options will get you the rights you need, one is cheaper. Going directly to the copyright holder allows you to negotiate, while distributors often have fixed prices.
Monetisation
When everything is in place, it’s time to decide on a monetisation method. A subscription-based model seems to be the industry standard. However, you need a system to curb login sharing and identity theft.
There’s also an option to run ads on the platform. It is usually used by free-to-view sites and is not the best monetisation method.
Conclusion
A media streaming service can be profitable. But that does not mean setting one up will be easy.