Here's a question. Are video and demand and live video platforms still relevant? The answer is yes. As we venture into 2024, the projected revenue of VoD stands at an impressive US$159.90 billion, supported by a robust compound annual growth rate (CAGR) of 9.69%.
Delving deeper, the largest market segment, Video Streaming (SVoD), holds a substantial market volume of US$95.88 billion.
Meanwhile, live streaming commands attention with 27% more watch time than on-demand content, a noteworthy 67% likelihood of post-live event ticket purchases, and the staggering dominance of Twitch as the largest platform with an average of over 2.9 billion concurrent viewers.
With the global live streaming industry anticipated to reach a market value of $223.98 billion by 2028, our blog post seeks to unravel the intricate interplay between these two digital domains.
Should I opt for On-Demand Videos or Live Videos?
Here are three considerations when choosing between on-demand and live video:
1. Consider Your Audience and Goals
Understanding your target audience and event objectives is fundamental. If flexibility and extended reach are your priorities, on-demand might be the ideal choice.
On the other hand, if fostering real-time engagement and creating a sense of community is key, live events may better align with your goals.
2. Hybrid Approaches for Maximum Impact
Many organizations opt for a hybrid approach in the evolving landscape of virtual events. This combines the benefits of on-demand flexibility with the immediacy of live interactions.
Hybrid events cater to a broader audience while maintaining the engagement and excitement associated with live experiences.
3. Budget and Resource Considerations
Evaluate your budget and resource availability. Live events may require additional technical support, while on-demand content necessitates effective marketing strategies for prolonged visibility. Understanding the financial and resource implications will guide your decision-making process.
Differentiating Live Video Platforms for On-Demand and Live Virtual Events
In the ever-expanding realm of virtual events, choosing the best video platform for live video is a critical decision that can significantly impact the success of your endeavors.
As the demand for on-demand webinars and live virtual events continues to surge, many platforms have emerged, each with unique features and capabilities.
Read on to explore seven key differentiators among live video platforms, helping you make an informed choice tailored to your needs.
1. Streaming Quality and Reliability
The backbone of any live video platform is its streaming infrastructure. Optimal streaming quality and reliability are non-negotiables for a seamless virtual event experience.
Look for platforms that offer high-definition streaming, adaptive bitrate technology, and robust infrastructure to ensure that your audience receives a consistent and crystal-clear viewing experience, regardless of their internet connection.
2. Interactive Features and Engagement Tools
The success of a virtual event hinges on audience engagement. Evaluate the interactive features of different platforms, such as live chat, Q&A sessions, polls, and virtual hand-raising.
Some platforms go the extra mile with audience participation tools, facilitating real-time collaboration and interaction.
Choose a platform that aligns with the level of engagement you envision for your on-demand or live virtual event.
3. On-Demand Capabilities
For those seeking flexibility in content consumption, on-demand capabilities are paramount. Not all live video platforms seamlessly transition to on-demand content, so assess the platform's ability to archive and share recorded sessions.
This practical on-demand feature allows attendees to revisit sessions, catch up on missed content, and extend the lifespan of your virtual event beyond its live broadcast.
4. Customization and Branding Options
Maintaining a consistent brand image is crucial, even in the virtual space. Look for platforms that offer customization options for your virtual event environment.
This includes branding the interface, incorporating logos, and tailoring the overall look and feel to align with your organization's aesthetic.
A cohesive and branded virtual space enhances professionalism and reinforces your identity.
5. Analytics and Insights
Understanding your audience and event performance is essential for continuous improvement. Robust analytics and reporting features provide valuable insights into attendee behavior, engagement levels, and content performance.
Look for platforms that offer comprehensive analytics dashboards, allowing you to refine your content strategy and enhance the overall impact of your virtual events.
6. Integration Capabilities for Live Video Platforms
Seamless integration with other tools and platforms is crucial for streamlining your virtual event workflow.
Evaluate the integration capabilities of each platform with popular tools such as marketing automation systems, CRM software, and email marketing platforms.
The ability to integrate seamlessly ensures a cohesive and efficient event management process.
7. Technical Support and Reliability
In the dynamic world of live events, technical glitches can be disruptive. Assess the level of technical support each platform provides, including the availability of live support during your event hours.
A reliable support system ensures you have assistance when needed, minimizing the impact of unforeseen technical challenges.
VIDIZMO EnterpriseTube – One-Stop On-Demand and Live Video Platform
Using live video platforms for on-demand and virtual events is a smart way to engage your audience, deliver your message, and expand your reach. They allow you to stream your events in real-time to viewers across the globe while also enabling interactivity, feedback, and analytics.
You can also record live streams and make them available for on-demand viewing, allowing you to maximize the value of your content.
VIDIZMO EnterpriseTube is a leading live video platform and one of the best video CMS (Content Management System) that offers a comprehensive solution for on-demand and virtual events.
With its many features, you can easily schedule, test, and deliver webcasts, webinars, and live event broadcasts using the encoding tool of your choice.
To extend reach, you can also integrate video conferencing systems, such as Zoom or MS Teams, with VIDIZMO's live streaming solution.
It also supports delivery methods, such as public or private CDN, P2P CDN, multicast, and live repeaters, to ensure optimal streaming quality and performance.
Besides that, VIDIZMO also provides various features to enhance your live and on-demand video experience, such as:
- Customization: You can customize your video platform according to your branding, look and feel, and user interface. You can also use custom CSS to represent your brand and customize the video player's controls.
- Interactivity: You can add interactivity to your live and on-demand videos, such as comments, ratings, quizzes, surveys, polls, and live chat. You can also run a quiz or a survey during a livestream to test your audience's knowledge or collect feedback.
- Security: You can secure your live and on-demand videos with enterprise-grade security features, such as encryption, authentication (password-protected videos), authorization, DRM, watermarking, and more. You can also manage access and permissions for your videos and users and ensure compliance with healthcare and other regulations.
- Analytics: You can monitor and measure the performance and impact of your live and on-demand videos with detailed analytics and reports. You can track viewership, engagement, drop-off rates, attendance, and more metrics. You can also use VIDIZMO EnterpriseTube AI-powered features to generate transcripts, captions, tags, and insights for your videos.
Ready to Deploy VIDIZMO EnterpriseTube?
Live video platforms have evolved beyond mere communication tools; they are now integral components of a comprehensive digital strategy.
Whether you're organizing on-demand webinars or live virtual events, these platforms provide a dynamic, interactive, and scalable solution.
Embrace their opportunities to connect with your audience, enhance your brand authenticity, and create memorable virtual experiences.
As we navigate the digital landscape, leveraging live video platforms is not just a choice; it's a strategic imperative for success in the virtual realm.
Feel free to reach out if you have any doubts or concerns or need any information. It would be best to test the service by opting for our 7-day free trial!
Frequently Asked Questions (FAQs)
What is the difference between Live and Virtual Events?
Live events need everyone to be in the same place. Virtual events happen online, so people can join from anywhere with the help of relevant live video platforms. Hybrid events are a mix of both - some people are there in person, while others join online.
What is the difference between VOD and Live Streaming?
Video on Demand (VOD) is flexible. You can make changes after production. But live streaming is different. It needs a more complex setup, and you can't really edit once it's live.
What does Video On Demand do?
Video-on-demand (VOD) is a technology that lets you watch movies and TV shows whenever you want. The video content is stored on a central server as digital files. This means you can view it immediately rather than wait for a specific broadcast time.
Why Virtual Events are better?
Virtual events let you connect with people worldwide easily and quickly. You don't need ample space, lots of staff, or special equipment like you would for a traditional event. Planning a virtual conference can be simple, as it provides live video streaming, which you can join in from the comfort of your home.
Is Video On Demand a streaming service?
Video-on-demand (VOD) streaming services are convenient. They let you watch pre-recorded shows according to your schedule whenever you want. You don't have to wait for a specific broadcast time.
How do I host a live video?
A live video can be hosted with the use of a live video platform that lets you store, manage, and share recordings of live videos.