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Currently, it is a notable fact that internet users are spending a vital portion of their online time on video sharing websites like YouTube, Netflix, Amazon Prime, and Hulu. In fact, studies have proven that almost 80% of internet traffic in 2019 will be video traffic (Source: SmallBizTrends). Video sharing platforms, by offering a central location for entertainment, learning, and marketing, are becoming everyone’s favorite. A video sharing website boasts of a remarkable business model that lets-
- Platform owners to earn through Ads, and content publication.
- Content creators to earn through brand promotion, copyrighting, and sponsorships.
What’s big in creating a video sharing website of your own?
Video sharing websites in 2018 remain not just a platform to upload videos, but sites like YouTube are inspiring and building a community of content creators. A single platform is acting as a prominent medium to connect content creators, viewers and brands together.
Of course, it takes a plentiful time to come up with a site like YouTube or Netflix, and much more than that to start earning with the business. However, it is also safe to state that video streaming as a business has just started and is not going to fade any sooner. Until that time, entrepreneurs have enough frames to create a video sharing website like YouTube and earn with it.
You just require an ideal business model and a highly targeted niche to squeeze out the maximum from this high grossing market. Consider YouTube and Netflix; both are video sharing platforms but operate with unique business models. YouTube, on one hand, utilizes Ad-based revenue model (A-VOD), while Netflix employs Subscription-based revenue model(S-VOD). YouTube in one hand chiefly relies on user-generated content; Netflix leverages both third-party content and Netflix Originals.
Can you build a Video sharing business without coding?
Conceivably, an Affirmative!
A few years ago, the answer would have been “NO” for sure. However, this is almost 2019, and web technology has made practically everything reachable to the mainstream people, indeed launching a video sharing website is no more a tough nut to crack. Readymade video sharing scripts have been working like a charm and have encouraged numerous entrepreneurs to venture in the market of VOD and Live-video streaming. There are YouTube Clone scripts offering the same capabilities as of YouTube, and Netflix clone with UI and monetization models identical to Netflix. If you are aiming for a business-grade video sharing website, you can invariably select a video CMS or a ready-made clone script to launch your business in no time.
How to choose a video sharing script or video CMS?
There is a catch, not all video CMS in the market are competent to fulfill all your goals. Some might offer VOD features, but miss out Live-streaming capabilities. While some might offer both, but not as a white-label solution.
In this case, a white label video sharing script is your safest bet. Such scripts are fully customizable, and one can revamp their UI completely to match their expectations and brand identity. Streaming engines and streaming servers generally power these scripts. As a result, one can also choose to utilize any third party streaming engine in spite of using one provided by the clone script vendor. Hence, always make sure to confirm if your clone script is hardcoded for a dedicated streaming server or they can also customize it to accommodate any third party server you wish for your business development.
In addition to the above affirmations, take an assurance on the flowing aspects from your video CMS or clone script vendor. These features and measures are of utmost importance for running a professional grade video streaming platform-
1. Stream Type support-
The platform must offer support for at least two major formats of video streaming platforms – VOD and Live Streaming. Do not hesitate to invest a little extra amount if they are willing to include both the features on a single platform with some customization cost. Retaining both the options will eventually pay-off.
2. Payment gateways-
The platform must offer integrated payment systems for on-site transactions. Based on your monetization method, users will be paying per-video or for the membership plans. Revenue generation is hard to achieve without a safer payment security on your platform. For example, PayPal or Stripe payment gateways.
3. HD content streaming-
Now that content consumers are getting used to 4K video streaming from Netflix, it has become even more crucial to offer something like that with your own streaming platform too. Let users stream in the highest quality possible. To make that sure, inquire a little deeper about the Streaming server, which has been incorporated in the particular video sharing script. For example, if Wowza or Nginx servers power the platform, it can definitely support HD quality streaming.
4. Multi bit-rate streaming-
If streaming in 4K or HD quality is crucial, streaming in multi-bit rate is even more crucial. Not all users have access to high-end devices or high-speed internet. By sticking only to the HD quality stream, you would be losing a considerable number of users who do not have access to high-speed internet or high-end mobile phones. Hence, make sure, if your streaming server is capable of offering dynamic switching of stream quality according to corresponding bandwidth or streaming device.
5. Multi-platform streaming-
Users these days consume video content across numerous platforms. Be it a mobile phone, computer, tablet, or smart TV video streaming platforms are offering applications and solutions on each of the popular platforms. A competent clone script will always offer cross-platform support for video streaming capabilities. Take Netflix for example, they have a web version in addition to their mobile apps and Smart TV apps.
6. Monetization methods-
Video streaming businesses are built on multiple revenue generation models. Some of the crucial monetization methods are Subscription (SVOD-Like Netflix), Advertisement (AVOD- like YouTube), and Transactional (TVOD- like YouTube’s Premium content). A competent streaming business in 2018 must necessarily support all the monetization methods to leverage every business opportunity in the market. YouTube sets an excellent example of a Hybrid revenue model by utilizing SVOD, TVOD, as well as the AVOD model.
7. Security features-
The business of multimedia or video content streaming is always prone to piracy. Despite all critical efforts, pirates do find ways to distribute content without authorization. There are ways to put a tab piracy through Advanced IP access control, Video encryption and Digital Rights Management. Always go for a solution that offers at least the above three measures to prevent piracy and unauthorized distribution of your content.
8. Social media login support-
The platform must allow social media integrations employing which users can be allowed to sign up quickly without manually filling the account registration forms. The features will additionally allow the platform to let users share and promote the service to maximize the user base.
9. Video performance analytics-
It is important to comprehend the performance level of each content being posted on the platform. The numbers must offer an insight into the reachability and revenue generated through a particular content on the platform. Moreover, the platform must also offer a seamless integration with Google Analytics and other platforms to evaluate the content performance with deeper insights like Gender, Age group, Geo-location etc.
10. Platform Customizability-
Above all, the platform must offer a sleek design and back-end architecture in addition to customizability for further enhancements in all the features. Looking out on these aspects will ensure your business does not run out of options for extending the technical feasibilities and other requirements in long run. Hence, invariably choose a platform backed by a futuristic technology. As of now, a script based on Node.JS is a safer bet. In fact, the biggest video streaming services of the century run on Node.Js: Netflix and YouTube.
What is the cost of building your own video sharing website?
It depends on various factors. There are many Video Sharing script providers in the market. All of them have their own set of features and functionalities to offer in a particular price range. Moreover, before looking out for a competent YouTube clone or any video sharing clone script, you have to decide one more thing-SaaS or Open Source code?
Recurring cost– SaaS providers generally do not share the code with the clients and charge on a per-month or annual basis. However, the popular companies in this niche are well known for their high-end features and dedicated customer support in a 24×7 environment. Your platform will remain updated with the latest features as they regularly roll out security and feature upgrades.
One-time cost– The other option is Open-source-code scripts where you can purchase and own the script for good. These scripts are generally white-labeled and possess maximum customizability, as codes are constantly available with you. Moreover, you will not be paying monthly or annual subscription charges. You can always consult any third party or the same developer to add or customize a feature. You are also liberated to choose Hosting Server Provider (e.g. Bluehost and HostGator) and Streaming Server Provider (e.g. Wowza and Nginx) of your choice.
Make a wise decision
Now that you are aware of all the options you possess, you can evaluate your platform requirements and business goals to select the most reliable option that suits the most. The final cost of building your Netflix or YouTube-like video streaming website depends on the features and customization you demand on the base scripts. It is always wise to select a clone that offers maximum features in the base script alone.
A marketing professional with expertise in strategies to engage customers and improve business opportunities. Interested in marketing communications and like to keep abreast of new trends and developments.