Well, there is no doubt that the f Over-the-Top Video-on-Demand phenomenon has gone beyond entertainment. Nowadays, the proliferation of smartphones and the exponential growth of internet penetration have enabled the global democratization of OTT solution for Education. Therefore, learning is no longer limited to classrooms because any information we seek is just a click away and at our fingertips. OTT Educational Streaming Service will further revolutionize Education by virtualizing the classroom, allowing students to learn whenever, wherever, and on any device of their choice at their own pace.
Educational OTT platforms play a vital role in the digital transformation of the education sector by shifting from the physicality of classroom-based education delivery to a virtual environment augmented by immersive video lectures, interactive quizzes, real-time knowledge sharing in the form of webinars, and so on.
First, let us see the growing trend in OTT and Education.
OTT platform for education: A Growing Trend
The online learning industry will be worth $370 billion by 2026. The 2020 pandemic fueled some of its growth, but as things slowly reopen, the need for an online video education platform continues to grow.
Enrollment in online education facilities is growing as a reputable learning option. However, by the end of 2022, the paid subscriber base for online video education platforms will grow even further.
Traditional brick-and-mortar institutions, on the other hand, are seeing a decline in enrollment. To bridge the gap, these schools are now turning to video education platforms.
Why Choose On-Demand OTT Platform for Education?
Taking your classes online is one of the savviest business decisions you can make. Here are a few benefits of using live streaming For education.
Budgets are tight everywhere, and students are becoming increasingly unwilling to have administrative and maintenance costs passed on to them through tuition fees.
With the help of educational video platform, you can make student materials available digitally instead of printing them. Rather than purchasing expensive demonstration sets, teachers can use graphics or videos to illustrate subjects. In addition, you can supplement your existing coursework with freely available Open Education Resources (OER).
2. High ROI
Lower costs imply a greater return on investment (ROI). Because video content is evergreen, the benefits of your platform will grow as your platform matures. It means that recorded programming can generate revenue for an extended period.
3. Better Access to Faculty
Because your platform is online, you can select faculty members from any location with an internet connection. It allows you to focus on credentials and teaching effectiveness rather than simply selecting applicants who live nearby or are willing to relocate.
4. Highly Flexible
Moving or rescheduling online classes in response to unexpected events is possible in educational video streaming solutions. Furthermore, adding and removing classes requires fewer resources. However, you can quickly change the programming as per the student’s requirements.
5. Saves Time
Finding a provider who creates something custom-tailored to your vision, from visualization to the cloud or on-site launching of your OTT, is the key to build an educational video platform. Apart from all of these benefits, it also helps a student foster virtues, including responsibility and proper time management.
6. Data and Feedback
OTT allows interactive tools to facilitate two-way communication between users, with aggregate data sent back into the platform. Educators can create and deliver content, monitor learner participation, and assess student performance using a combination of online and face-to-face instruction. Students can also use interactive features like threaded discussions, video conferencing, and discussion forums. Besides that, educators are kept up to date on a student’s progress, thanks to the data reporting feature.
Why Do Students Need OTT Education?
The best part about starting an eLearning business is that it is popular with students as well. People from all walks of life want to improve their skills and discover new interests, and for many of them, an online solution works better for them than a traditional school. They can access lessons from wherever they are, avoid commuting and learn at their own pace.
According to the research, about 76% of teachers say Video Streaming Services for Education help their students remember what they’ve learned, and 88% say video learning strategies help students perform better overall.
Educational video streaming services cater to a wide range of learning styles, allowing students to approach the information in their unique way to comprehend it. They can pause or rewind videos and take notes using transcripts. If they don’t understand something, they can message the professor privately without feeling embarrassed.
How to Monetize Your Educational OTT Platform?
There are five primary methods for monetizing your content through an OTT platform. Here’s a quick breakdown:
- Subscription-Based Video on Demand (SVOD)
Subscription video on demand refers to video subscription platforms that require users to pay a monthly or yearly fee to access the content. It allows customers to pay only for the content they want, eliminating ad distractions.
- Transactional Video on Demand (TVOD)
TVOD is a pay-per-view alternative to streaming video; in this case, viewers purchase programming, videos, or audio on a per-view basis. In most cases, TVOD providers provide the most recent video launches, which means higher income for copyright holders through educational video monetization and timely access to fresh content from users.
- Ad-Supported Video on Demand (AVOD)
AVOD is a popular ad-based video platform monetization model used by major players in the VOD industry. This model allows customers to watch internet video advertisements to watch their favorite content- completely free. It’s very similar to television commercials.
- Hybrid Models
A hybrid business model is not the same as a single well-established business model. Several businesses are putting their spin on well-established monetization models to create a hybrid model that works for them.
- Pay Per Course
Some of the best OTT video platforms enable users to pay for individual courses rather than the platform. It allows them to select the course of their choice while limiting their access to other courses on the platform unless they pay for them separately.
Keep in mind that you work in the education industry, not the technology industry. Your time is invaluable. Isn’t it better to spend your time creating educational content rather than working on infrastructure? It’s time to work with an experienced developer, to handle the technical aspects of creating an Educational Video Platform. With this, you can focus solely on honing your institution’s branding, content, and presence so that your students never want to leave.
Need Help? Do you want to create your own e-learning platform? If yes, we can help.