Internet video is booming. As of June 2018, there are nearly 3 billion monthly video viewers across the globe. That number continues to grow at an impressive rate with new video content being uploaded every single second. We live in a world where video streaming services like Netflix and Hulu are now commonplace and people are spending less time watching television as a result. The thirst for online content is greater than ever before – especially among millennials. If you’re someone who works in the digital industry or is interested in getting involved as a future career option, you’ll almost certainly have heard of Internet video-on-demand (IFVOD) services and how they’re changing the way we consume media on a global scale.
What is IFVOD?
IFVOD is an umbrella term used to describe a range of video streaming services that allow users to watch a selection of films and TV shows, either online or via apps on mobile devices. These services usually allow users to sign up to a monthly subscription and access the full library of content on-demand. Many have free trials so you can try before you buy, and they usually have a wide variety of content available, spanning a wide range of genres. You’ll often hear IFVOD services referred to as SVOD (Subscription Video on Demand) services too.
What does IFVOD do?
As we’ve already discussed, IFVOD services let you watch a wide range of movies and TV shows from the comfort of your own home. However, that’s not all they do. Most IFVOD services also offer original programming too. Netflix, for example, has been responsible for producing some of the most critically acclaimed TV shows ever created. Series like House of Cards and Stranger Things are now globally recognized brands. IFVOD services are also responsible for helping promote and finance new independent movies and filmmakers too. That includes B-movies, cult classics, and even movies that have recently been in theaters. And there’s plenty more.
How does IFVOD work?
An IFVOD service will typically have a library of movies and TV shows available to stream. These can be viewed via a computer or laptop, or via a smartphone or tablet device via an app. If you wish to view a specific film or TV show, you’ll need to sign up to the service and pay a monthly fee. That will give you access to the full library of content, on-demand. There are a number of different subscription models. You can pay a set amount per month, or opt for a tiered payment plan that offers you full access to a certain amount of content each month for a discounted price.
Why is IFVOD so important?
IFVOD services are incredibly important for a number of reasons, but three stand out as being the most vital. – The democratization of media – As IFVOD services continue to grow in popularity, their reach only becomes further and more democratic. That means that content that was once only available to a select few, is now available to everyone. – The end of censorship – Internet censorship is a real issue that affects millions of people around the world. IFVOD services provide a convenient way around that problem. You’re unlikely to find yourself restricted from watching anything when using an IFVOD service. – The creation of new jobs – As you can probably tell, IFVOD services are a pretty big deal. They’re helping promote and finance new independent movies and filmmakers, providing a convenient way around that problem. – The end of television – The thirst for online content is greater than ever before. As people become more and more familiar with the benefits of IFVOD services, the demand for televised content is expected to slowly decline.
Where is IFVOD going?
IFVOD services are growing rapidly, with new brands popping up in different regions of the globe every single day. That means that there’s a lot of competition in this space. Companies need to be creative and innovative if they’re to get noticed among the noise. One thing that is likely to change over time is the way that people watch videos on IFVOD services. Content is increasingly being distributed in 8K and 4K formats, with many services already offering films in HDR at the moment. That’s all because the Internet has been evolving and improving at a rapid rate over recent years. So much so that 5G mobile networks are expected to go live as early as 2020 in certain parts of the world. That will result in significantly faster download speeds. So, in theory, you’ll be able to watch full-length films in 8K or 4K at the press of a button.
As you can see, IFVOD services are incredibly important to our society as a whole. They’re democratizing media, bringing entertainment to millions of people who may otherwise be unable to access it. That’s an amazing thing, and something we should all be thankful for. As Internet connectivity continues to improve, and IFVOD services grow, evolve, and improve, we can expect to see a lot more change in the years to come.