The usage of videos as an engaging form of content is increasing, so are the websites that host videos or allow video creators to live broadcast it. According to Cisco, the video on demand (VOD) traffic will be doubled by 2022 and live streams would account for over 17% of the overall internet traffic the same year.
According to Statista, video streaming is quickly gaining momentum and still has room to grow.
While content creators clearly know that video holds the future for promoting their brand, they might face challenges when picking the content delivery method. VOD and live streaming are two different types of options they have and each comes with its own advantages and disadvantages. Both video content types offer different types of brand recognition advantages including increased user engagement and growing customer base.
What is video on demand?
Video on demand is a traditional method of creating and delivering videos. Content creators make videos, upload it on video platforms so that users can view it. VOD has transformed the way videos are watched and broadcasted. VOD streaming is trending now as more users are enjoying online streaming like ever before, especially during the time of current Coronavirus.
On demand videos allow users to watch videos at the time convenient for them from the devices of their choice. Video on demand is more than just binge-watching entertainment videos on video streaming platforms like Netflix. The convenience of watching any type of videos from different niches including entertainment, educational, fitness, religion, etc. from anywhere based on user’s convenience is the beauty of VOD.
For example, Beachbodyondemand is a streaming on demand platform that offers users access to premium beachbody workouts.
VOD content is pre-produced making enough room for improvements. As it takes more time in producing and editing content, it implies lesser mistakes as well. It also allows content creators to improve the videos for a better watching experience.
Popularity and convenience
There is a reason why video streaming services like Disney+, HBO now, Hulu, etc. are popular among the audience. These platforms allow viewers to watch content whenever they want to instead of waiting for the programming schedule like traditional TV networks.
Usage of editing tools
As VOD content is pre-made, you can use a variety of editing tools when compared to live streaming. Content creators can leverage creative tools to plan and execute their creative ideas. which won’t work in the case of live videos.
Different varieties to choose from
On demand content can be edited to customize them according to your unique needs before distributing the content. This helps you to craft videos in a way that can go viral than live videos. There is always a huge room for customizations so that you can offer much-desired verities to your videos. When you can cope up with the pre-production efforts in creating and publishing, VOD is the best option. Moreover, on demand videos are easier to implement if you want to offer the best video quality of your users provided that you have enough time to invest in creating videos.
When to use on demand videos
When you want to offer your customers with the convenience of accessing your videos when, anywhere, anytime, and from the devices of their choice. On demand streaming not just offers flexibility for your viewers, it also allows you to have more control over the content when it comes to editing your videos to suit the requirements of users.
Another advantage is that you can create videos in large batches to make an appealing and engaging video library with content that your viewers will love. If you are a brand that wants to expand your service in any niche of your choice, you can use VOD streaming to power your marketing activities in the best way possible.
The ROI of on demand videos is great as it is fuelled by evergreen content that has the potential to entertain users over a long period. You just have to do all the work just one time and create a valuable video library that can bring a significant amount of revenue. If you want more flexibility in creating and producing videos and publishing them, VOD works greater than live streaming.
Live streaming is a modern technology that allows you to create, watch, and share live videos in real-time. With the live streaming industry expected to grow to $70.05 billion by 2021, the growth of live videos is immense considering the huge user base that continues to grow every day. There is no wonder that more entrepreneurs are looking for ways on how to start a live streaming business. You can live stream videos with an internet enabled device and a platform like a website or an application to stream from. Unlike on demand videos that are pre-recorded and edited, live streaming is raw, live, and unedited. Viewers can engage with live videos by using the comment section. Live videos can be broadcasted either publicly or privately, according to your convenience.
Let’s look into the advantages of live videos.
Easy to create
Unlike on demand videos, live videos are easier to create in the budget of your choice. You just need to have a smartphone and an internet connection to reach out to your audience. However, if you want to produce live streams professionally, you might need a more sophisticated setup and tools to support your offerings.
Creates a sense of urgency
As live videos are raw and spontaneous, it offers a sense of urgency and immediacy which the audience loves. What the viewers see is what the live streamer points their camera at. The live streaming content is engaging due to the same sense of immediacy.
Less production cost
You can use live streams to power your marketing efforts or a part of your training program. Regardless of the reasons, live videos can be produced for less cost, allowing you to produce live content according to your budget. Even if you want to create live streams in a professional way, you can choose affordable live streaming services for business that fit your budget.
When to use live broadcasts
Live broadcasts generally suit scenarios where you have to establish a personal and trustable connection with your audience in real-time. Considering the current COVID-19 pandemic that demands business to shift their operations online, the importance of live streaming is increasing more than ever.
Create a live streaming business plan to outline how you want to use live videos to grow your business and monetize your offerings. Another advantage of live streaming is that you can repurpose the live streams to create a video library of on demand videos so that your users can watch the content you have broadcasted live later.
VOD vs streaming live – Which is the best choice
If you consider VOD vs live streaming, both have its own advantages and disadvantages and each works great in different situations. As a business, if you wonder which is the best choice for your business, each works beneficially in various scenarios. A successful strategy would be to use a combination of both live and on demand videos together. It helps to create more value for your brand and emotionally connect with your viewers for better engagement and watching experience.
Here are some of the ways to use both VOD and live content for the benefit of your business.
Live broadcast on demand videos: You can live stream VOD content if it is relevant to your audience.
Repurpose live videos for on demand watching: When your live stream ends, you can save the content and use it as for on demand watching. For example, Q&A videos and live interviews can be repurposed for future viewing.
Video on demand is significant if you want to build long-term resources on which you can depend on. Whereas if you want to reach out to a global audience for better engagement, live streaming works great. However, the best option would be to use both VOD and view content to create a successful business that engages your customers, generates more revenue, and helps you grow your business. Choose whatever fits your business and the audience.