By
Emily Krings
Did you know that the video streaming market is currently valued at over $526 million and is expected to grow to a whopping $1.72 billion by 2030? This substantial growth is bound to create an abundance of opportunities for businesses across many industries, especially those in entertainment.
With that, many businesses are setting out to start streaming services like Netflix or Hulu. Luckily, with the support of the right technology, creating a TV or movie streaming service is possible for businesses of any size.
In this article, we will discuss how to start a streaming service like Netflix in seven steps. We will cover what a streaming service is, different types of streaming services, and how to create your own.
Table of Contents
- What is a Streaming Service?
- Live Streaming vs. VOD: What’s the Difference?
- How to Create a Streaming Service
- Start Streaming on Maestro
What is a Streaming Service?
A streaming service is an app or site that people use to watch series, movies, shorts, and so forth. Typically, streaming services use OTT delivery, which means that the content is distributed over the internet rather than cable or satellite.
There are different ways that viewers buy access to content on streaming services. Some monetization methods that are used for streaming services include subscriptions, ads, and pay-per-view.
A few examples of popular streaming services include Netflix, Hulu, Disney+, Prime Video, ESPN+, and HBO Max.
Live Streaming vs. VOD: What’s the Difference?
While we’re on the topic of creating a streaming service, it is important to distinguish the difference between live streaming and on-demand video streaming.
Live streaming involves broadcasting content in real-time, so your viewers have access to the happenings within minutes or seconds from the time they are
Understanding the difference between the two will help you understand which direction to take with your video business and what sort of support you’ll need to create your streaming service.
How to Create a Streaming Service
As we mentioned, creating a streaming service is fairly simple with the support of the right tools. With that said, here’s how you can create a streaming service like Netflix in just a few steps.
1. Make a Plan
Like any business endeavor, it is important to start with a plan. This could look like a casual brainstorming session or creating an in-depth business plan. Either way, you’ll need to start mapping out your vision for your streaming service.
You should start by identifying your broader goals, such as what niche your streaming services will be geared towards, who your target audience is, whether you’ll host live or on-demand content, and what scale you’d like to reach with your service.
2. Choose a Business Model
Next, you’ll need to choose a business model. You’ve likely mapped out some goals and action items, but now it’s time to narrow in on the exact business models.
There are a few monetization models you could use. These include:
- Subscriptions: Viewers pay a monthly, quarterly, or annual fee for on-demand access to your library of content
- Pay-per-view/ticketing: Viewers pay for access to specific titles (for lifetime access or for rental)
- Freemium/ads: Viewers “pay” for content by watching ads; the only monetary transaction is between your business and your advertisers or sponsors
You can use any of these monetization models as a standalone, or you could combine multiple to meet your
3. Source Your Content
When you create a streaming service, you have the option to buy rights to existing titles, create original content, or both.
Creating original content is great for those who want to showcase and distribute their own work. However, sourcing existing content and offering exclusive access to said content can encourage viewers to come to your platform.
For example, Netflix originally sold access to titles that they had purchased rights to. They didn’t begin creating original titles until several years down the line. Now that they’ve built an influential reputation in the market, they create tons of original content.
4. Choose an OVP
One essential component to creating a streaming service is choosing a capable online video platform (OVP), like Maestro. If you’re not familiar, an OVP is a solution that hosts and manages video content.
If your goal is to build a high-quality streaming service, like Hulu or Prime Video, you’re going to need a highly capable OVP. This will most likely be a paid solution.
Some features to look for in your video hosting solution include:
- Video monetization
- Secure streaming
- Brand customization
- Video website building tools
- Video analytics
- Community data
We recommend taking advantage of free trials of different platforms to find the one that best fits your needs.
5. Build Your Site and/or Apps
Now, it’s time to build the site or app where your streaming service will live. Most successful streaming services offer responsive viewing experiences across all sorts of devices. That means creating both a site and an app is important.
Some OVPs, including Maestro, have built-in tools that make it easy to build your streaming site by yourself. However, if you’re using a different streaming platform, you may need to hire developers to build out your service.
6. Publish Content
After your site is set up, you can start publishing content. The process of uploading content is typically very straightforward, but ensuring that everything is uploaded in time for your launch should be your priority.
When it comes to series, some streaming services publish an episode weekly, and others publish entire seasons at a time. If you’re just getting started, it may be wise to publish entire seasons at a time since it will give your viewers more content to view. However, you can adjust this strategy over time.
7. Start Promoting
Once your streaming service is up and running, it is time to start promoting to viewers. It’s worth testing some of the most popular digital marketing techniques to see what the audience responds best to.
A few techniques you can try include:
- Social media marketing
- Paid advertisements
- Influencer marketing
- Email marketing
- Content marketing (SEO, video, etc.)
If your brand is completely new, you’ll need to sweeten the deal to get people to sign up. As part of your promotion, consider offering reduced rates for the first group of people who sign up.
Start Streaming on Maestro
Looking for an online video platform that makes it easy to start a streaming service of your own? Look no further. Maestro’s got you covered.
Our streaming platform makes it easy to manage, monetize, and deliver your online video content. We offer a wide variety of tools for monetization, community management, and even data and analytics!
Sign up for Maestro to see how our platform can support your Netflix-like video streaming business.
