Step-by-step guide to launching your own streaming service
Vimond Media Solutions
December 6, 2022
If you’re considering starting a streaming service, you have come to the right place. In this article, we will walk you through the steps and considerations required for launching a streaming service.
Step One: Make a Strategy
The first step in starting a streaming service is to develop a detailed business plan. This should include information about the types of content you will offer, your target audience, your pricing and monetisation strategy, and your marketing and promotion plan. In addition, you should conduct market research to understand the competition and identify opportunities for differentiation. This initial process should also include how you will need to acquire the content that your service will offer. This can be done through licensing agreements with content creators or partnerships with other companies. It's important to have a diverse and high-quality selection of content in order to attract and retain users. Moreover, you should have a plan for organising and promoting your content, so that users can easily find what they are looking for.
Step Two: Make Technology Decisions
Once you have a solid business plan in place, the next step is to choose the technology needed, and if you want to license or build this yourself. In order to achieve success as a streaming service, it's important to utilise a platform that is flexible, scalable, and easy to use, so that you can adapt to changing user needs and business goals.
The Components You Need to Launch and Run a Streaming Service
There are a few key components that are needed for a streaming service to work. Let's dive into it!
Video hosting - a server that hosts the video content. The streaming service will store the video files on one or more servers, and users can access these files over the internet. Among the most well-known video hosting services is Amazon S3 (Simple Storage Service), which is a cloud storage service provided by Amazon Web Services (AWS). It allows users to store and retrieve any amount of data, including video files, from anywhere on the internet. Amazon S3 is a popular choice for hosting video content due to its scalability, reliability, and security. It can handle large amounts of traffic and data transfer without any downtime. Additionally, it offers features such as encryption, data backup, and disaster recovery to protect the video content.
A content delivery network (CDN) to distribute the video to users. A CDN is a network of servers that are located around the world, and they are used to deliver the video content to users as quickly and efficiently as possible. An example of a CDN provider is Akamai. It uses a global network of servers to deliver video content to users quickly and reliably.
Encoding and transcodingtechnology to convert the video into a format that can be streamed over the internet. The video files will need to be encoded into a format that can be streamed, and the streaming service will use transcoding technology to convert the video into different formats depending on the user's device and connection speed.
Security measures to protect the video content and prevent unauthorised access. Streaming services must implement a variety of security measures to protect their content and prevent unauthorised access, such as encryption, authentication, and digital rights management (DRM).
Analytics and reporting tools to track user behaviour and performance. Streaming services need to track a variety of metrics, such as how many users are watching a video, how long they are watching it for, and where they are watching it from. This data is used to improve the service and make it more user-friendly.
A user interface (UI) that allows users to browse and search for content. The streaming service will need to provide a user-friendly interface that allows users to browse and search for content, as well as manage their accounts and settings. This also includes a player that can play the video on the user's device. This player will handle tasks like buffering, seeking, and adapting the video quality to the user's connection speed.
Recommendation algorithms to suggest content to users based on their interests and viewing history. Streaming services often use recommendation algorithms to suggest content to users based on their interests and viewing history. This can help users discover new content that they might like.
Integrations with other platforms and services, such as social media, payment systems and other 3rd parties.
Monetisation - Monetization is an important aspect of running a successful streaming service. It refers to the various ways that a service can generate revenue from its content and user base. Different ways to monetise your video content includes:
Subscription fees: Many streaming services charge users a monthly or annual fee in order to access their content. This is the most common monetization model, and it allows users to access all of the service's content for a flat rate.
Advertising: Some streaming services, particularly those that offer free content, make money by showing ads to users. This can be done through pre-roll ads (ads that play before the video), mid-roll ads (ads that play during the video), or post-roll ads (ads that play after the video).
In-app purchases: Some streaming services offer additional content or features that can be purchased within the app or website. This can include things like extra episodes of a TV show, exclusive content, or premium features.
Licensing and partnerships: Streaming services can also make money by licensing their content to other companies or by partnering with other companies to offer their content on their platforms. The specific monetisation strategy will depend on your service's business model and the type of content you will offer.
These are just some of the many technical details involved in building and running a streaming service. As you can see, there is a lot of technology and expertise required to make these services work effectively.
Video Content Management For Streaming Services
Having a good video content management system (CMS) is another important part of a streaming service. The video CMS is the core of your streaming service ecosystem, and it acts as the central hub for all of your content, allowing you to efficiently organise and manage it. You can use a Video CMS to categorise your videos by topic, date, or any other criteria, and you can also use it to add metadata such as titles, descriptions, and tags to your videos. This can help your viewers search for and discover your content.
A good CMS can also help you track and analyse important metrics such as how many people are watching your videos and how long they are watching for, which can help you understand your audience and improve your content. Additionally, a good video CMS can help you manage the technical aspects of streaming. Streaming video requires a lot of bandwidth and can be affected by factors such as network congestion and device capabilities. A good CMS can help you optimise your videos for different devices and network conditions, ensuring that your videos are delivered to your viewers in the best possible quality. This can help you provide a high-quality viewing experience for your audience, which can help you retain and attract more viewers.
Content Curation For Streaming Services
As part of a Video CMS you want the ability to organise and categorise your videos so that users can easily browse and search for what they are looking for. In addition, content curation abilities within a video CMS can help you promote the content. Such as highlighting the best and most popular content on the service, so that users are aware of it and can easily access it. This can improve the user experience for your viewers and ultimately help your streaming business succeed.
So, when looking for streaming technology, consider investing in a good CMS to help you manage and grow your business.
Why You Should Buy Not Build Your Own Streaming Service
If you're at the point of considering launching your own streaming service, you may be wondering whether to go at it alone or enlist some help. Starting a streaming service can be a complex and challenging endeavor, and having support along the way can make all the difference. In the list below, we have outlined some of the key considerations to keep in mind.
Cost savings: Building technology from scratch can be a costly and time-consuming process. By buying existing technology, you can save money and avoid the costs of developing and testing the technology yourself.
Access to expertise: If you choose to buy technology, you are also buying the expertise and experience of the technology's creators. This can be valuable, especially since the technology is complex or requires specialised knowledge.
Faster time to market: Building technology from scratch can take a long time, which can delay the launch of your streaming service. By buying/licensing existing technology, a company can get your service up and running more quickly.
Scalability: If your company needs for technology change or grow over time, buying existing technology can be more flexible and scalable than building it from scratch.
How to Pick The Right Partners and Functionality for Your Streaming Service
If you have decided to enlist some help in creating your streaming service, there are several factors to consider when choosing the right partners and technologies.
Expertise and experience: Look for a technology partner that has experience in building and deploying the type of technology that you need for your streaming service. This can help ensure that the technology is well-designed and reliable.
Flexibility and scalability: Your technology needs may change over time, so it's important to choose a partner that can adapt to your changing needs. Look for a partner that offers scalable solutions that can grow with your business.
Integration capabilities: If you are using other technology or platforms in your streaming service, look for a partner that can easily integrate with them. This can help ensure a seamless user experience and avoid compatibility issues.
Support and maintenance: Choose a partner that offers ongoing support and maintenance for their technology. This can be valuable if you encounter any issues or need help with updates or upgrades.
Cost: Of course, cost is also an important factor to consider. Look for a partner that offers competitive pricing and flexible pricing options.
By considering these factors, you can choose the right technology partner for your streaming service. It's also a good idea to do some research and read reviews from other customers before making a decision.
How Vimond Media Solutions Can Help You Start a Successful Streaming Service
In Vimond we provide a range of services and technology solutions for the online video industry. We offer a comprehensive platform for starting and running a streaming service, including tools for video processing, content management, monetisation and delivery. Our technology has been carefully developed and refined over the past 10 years to help streaming services attract and retain users.
To learn more about how Vimond can provide you value, you can check out some of our customer stories, or maybe you want to dive into the technical aspect? Simply just sign up for our docs! Either way, we are here to help, so don't be shy! Slide us a message! Or tell us your favorite movie, we are always on the lookout for movies and TV-series tips 📺🤓