Remember the days when watching a TV show meant having to be home at the exact time it was on? That may seem like a long time ago, but in reality technology has actually advanced very quickly, to give us the easier access to content that we have today. It’s not finished yet, though; as the VoD market continues to grow.
IDATE has predicted that by 2018 global VoD service revenue will have reached 34.4 billion euros. This represents a 50% increase on today’s figures. Currently, Pay TV holds 90% of the VoD marker but it’s estimated that subscription services, like Amazon and Netflix, are set to treble their uptake.
How to successfully join the VoD revolution
Providers like Netflix are respected names in the VoD world. Both Amazon and Netflix keep their customers engaged with regular notifications of fresh content that are often tailored to customer preferences. This does not mean that new providers can’t enter the market. Three of the main things to remember, when providing a VoD service, are:
- It’s important to maintain the quality of streaming.
- Access to the content should be reliable.
- You should keep up with all new developments in the market.
As VoD grows in popularity so competition to provide a service will also grow. If people have problems accessing your content, or the viewing quality is poor, they may decide to take their custom elsewhere.
People are also likely to look elsewhere if the content you are providing is out of date. Viewers want to have regular access to fresh TV shows, movies, sporting events and concerts to watch.
It remains to be seen what will happen with the traditional TV service in coming years, but there seems to be no doubt that the popularity of VoD will continue to increase. It’s likely that this method of accessing content will become the norm, so maybe it’s time to think about joining the VoD revolution.