Did you know that according to a 2020 survey conducted in the US, 36% of Millenials paid to rent and watch premium video on demand content during the coronavirus pandemic?
Given the figures, the rising popularity of PVOD can be clearly understood. Gone are the days when people wanted to rush to theatres to watch new releases. Thanks to streaming options like premium video on demand. In today’s digital environment, investing in online streaming systems like PVOD seems like a viable business option.
Are you planning to start a business in the same direction? Wonderful! In this article, we shall discuss everything you need to know about PVOD including all the aspects of its functionalities.
Stay with us and read on!
Premium VOD Meaning
Wondering as to what is a premium video on demand? Don’t worry! We are here to help you understand every detail. Premium video on demand can be defined as a business model of media distribution wherein viewers get access to video content before its actual release date.
Viewers can either buy or rent the content. Given the pandemic situation worldwide, PVOD proved to be a great alternative for releasing and delivering content to the audience.
To put it in a nutshell, PVOD tends to provide extra privilege to viewers in terms of content delivery, unlike TVOD or SVOD.
Comparison of Premium VOD with Other Revenue Models
Content distribution has witnessed an evolution in recent times and is continuing to evolve with better technologies. Premium video on demand is one of the best business models that has benefited businesses.
People are always looking forward to new content to watch on VOD streaming platform & apps. And, PVOD enables them to access content that is totally fresh and yet to be released.
Well, what else can be better than this? In this section, we shall compare PVOD with other revenue models in the market.
- PVOD VS SVOD – Know the difference
SVOD stands for subscription video on demand. In this, users need to pay a monthly or yearly fee to access the content available on your platform. Sometimes, SVOD may not facilitate high quality video content or new releases at the fixed fee.
On the other hand, In PVOD, viewers need to pay a certain amount of price to watch the new content available on your platform. PVOD tends to win the trust of customers as it provides fresh content of the highest video quality.
- Premium video on demand VS Transactional video on demand
TVOD is a pay-per-view business model in which the user has limited content access to your platform. Users can watch videos only on this basis and the high prices may not be suitable for every user. There is no guarantee whether your viewer will stick to your platform or not.
On the other hand, PVOD offers fresh content to viewers. This feature is a total winning point. Customers can access movies, shows, and events prior to their release dates. Isn’t that totally amazing?
PVOD VS VOD – What is the Difference Between these Two?
The word ‘premium’ in a premium video on demand represents video content like theatre blockbusters. It can be described as exclusive and blockbuster content having grand releases. Hence, there’s a lot of scope for monetization, given the release excitement revolving around the video content.
In contrast, top VOD platforms delivers all kinds of content and people can choose from multiple genres. You can monetize with monthly subscription, pay-per-view, and other combined packages.
Impact of Premium Video on Demand Platforms on Theatres and Studios
Wondering how premium video content is affecting theatres and studios? In this section, we shall talk about the impact of PVOD on both of them. Continue reading!
- Decrease in theatre sales
With the rising popularity of PVOD, theatres have started witnessing loss. Given the pandemic situation, audiences love the idea of consuming brand new content from the comfort of their homes. According to a study, nearly one third of the population had already paid to watch a film that skipped its cinema release due to the pandemic in February 3021.
As traditional theatre releases are threatened by disruption for some length of time, PVOD remains the centre for studios to preserve their video monetization platform.
- Profit opportunity for studios
With the success of PVOD, studios have been able to strike the right deals with major regional and global partners. Studios securely distribute and showcase content. They are targeting buyers with tailored preview footage and screeners.
We hope this article helped you gain a fair idea of PVOD and all the important aspects circling around it. In present socially distant times, investing in a PVOD business makes a lot of sense. So, what are you waiting for? Kickstart your PVOD platform development project today.