Regardless of your business or background, you know that consumers like choices. You also know that the most successful ventures do not remain static but adapt and increase their product offerings. It’s a basic business principle, and one that highlights the rising popularity and rapid expansion of the SVOD market.
Driven by the advancement of digital technology, the SVOD (subscription or streaming video on demand) has achieved nearly unrivaled success as indicated by the revenue generated. For example, in 2013, the amount spent by US consumers on SVOD services was $3.2 Billion. In 2016, that number jumped dramatically to $6.2 Billion.
This is not a big surprise when you consider the benefits: unrestricted access to a vast array of content; the ability to stop, fast forward, rewind, or pause to watch another time without an expensive equipment rental; a subscription fee that is controlled by the customer’s preference and not a lengthy time contract, an inexpensive external device to add to your current television, making even the “dumbest” TV sets “smart”. Now the choice to watch what you want, when you want, and where you want is entirely yours.
Sounds great! Right?
Unfortunately, there are two significant concerns to anything, anytime, anywhere viewing, particularly for families. First, though at times inconsistent in their application, the SVOD is not limited by any FCC regulations, unlike broadcast networks. In addition, monitoring the amount of screen time and appropriateness of content for each family member can be all consuming for parents. Although a few recently released apps attempt to simplify the process, it remains a substantial challenge.
As we go through this blog series that addresses the impact of digital technology and latest trends, please share your experience and perspective. How do you monitor viewing, whether at home or on a mobile device? Or is it restricted altogether?
Also, please check out the Pure Flix solution for faith and family-friendly content. You’ll find the details at pureflix.com, which is our own SVOD service with over 6000 titles and growing. Plus, your first month is free.
Franklin Santagate is the Vice President of Pure Flix Global Strategic Alliances, which works with denominations, ministries, and organizations by finding common vision, assets, resources and influence. From that position, we create initiatives we can do together that we cannot do apart, reaching our mutual objectives and expanding the Kingdom of God. To discover more or to become a Pure Flix Global Strategic Alliance partner go to http://pureflixalliance.com/join/.
To contact Franklin for speaking opportunities at churches and special events, email him directly at email@example.com.