After the hit of the global pandemic, the use of video content has received a surge in demand. More people are looking for better and more convenient ways of consuming content online, and video broadcasting is the most suitable answer to this need. Brands and businesses can leverage both Livestreaming and Video-on-demand to improve brand recognition and customer engagement easily.
However, the two terms Livestreaming and Video-on-demand can be confusing for those that are just getting started with video streaming. If you are still confused with the differences between livestream and VOD or choosing a streaming service that works best for your business, this article will walk you through the A to Z of them all.
Why Video-on-demand (VOD)?
VOD is storing and sharing pre-recorded videos for viewing at any time and from any device. Video-on-demand is not shared live to the viewers. Once the videos are uploaded, they stay on the platform for anyone with access to view at their convenience.
Hosting VOD content gives your customer easy access to useful content at all times, as long as they are given access. VOD applications span from over-the-top content platforms like Netflix, Disney+, or Amazon Prime to business-oriented platforms with the tutorial, educational videos for their customers.
You can read more about VOD hosting in this blog.
The Business Benefits of VOD
Accessibility: By making your video available on-demand, it gives the customer the benefit of free choice to access the content and stays engaged with your brand. Businesses can keep promoting their VOD content long after it is published as long as it remains relevant to customer demand.
Updated: Pre-recorded content can be re-recorded, edited, and polished before its premiere. A thorough production process makes a professional impression on both your existing and potential customers. Plus, the videos can always be updated to provide the most relevant information to its viewers, helping your brand stay in the loop.
Ease of use: While livestreaming programs might not be the best option for some industries, VOD applications offer more significant advantages to attract and retain customers. Your business will have control over what the users watch, the content they see, and the reusability of the content for other purposes.
Livestreaming is the opposite of hosting VOD content. It is one of the most common practices of communication that is getting the attention of both individual streamers and businesses. Livestreaming is highly engaging for the viewers as it creates the excitement of joining an online event that they are interested in.
As opposed to VOD hosting, live broadcasting videos doesn’t allow for much editing or polishing. That’s why livestreaming requires more preparation for both the technical setup and the performance/event itself to make a high-quality stream.
The Business Benefits of Livestreaming
Real-time interaction: Joining a livestream gives people the feeling that they are a part of something unique and exclusive, although virtually. By live streaming your content, you give your users the opportunity to opt into a one-time experience shared only by those other viewers watching live with them.
Engagement: Livestreaming allows instant reaction and replies from your users, and vice versa, in real-time. During a livestream session, you can easily take polls, answer questions, and get viewers involved in the topic. This also gives them more ownership of the final content product and a stronger feeling of connection with your brand and business.
Cost reduction: For specific industries, live streams can be a cost-effective way to promote and provide information to users or even employees all at once, such as in the case of training programs. Additionally, as the event is held online, businesses can avoid the extra costs of travel, conference space, meals, and security if they were to make it offline.
Both live streaming and VOD hosting services are growing significantly in recent years. Not only are they indisputable, missing out on either of the two means you are risking huge potential to grow your business.
Considering all characteristics and benefits of both live streaming and VOD technologies, many businesses have successfully decided to combine them. The current digital landscape is constantly changing, making it highly crucial for businesses to stay updated with the new forms and methods of reaching out to the audience and building a brand presence like livestreaming and hosting.
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