Niche Streaming Services — Quick Guide on Everything You Need to Know
Before we get all busy and start speaking about niche streaming services and stuff, let’s bow down to Netflix for a moment. Because if it wasn’t for Netflix, I wouldn’t be writing this niche streaming services blog here, nor would you have searched for the same!
Are you done? Okay, let’s proceed!
Now, while drafting this read, I came up with a couple of possibilities as to why you’ll end up here. And here are they,
- You’re looking forward to starting a niche streaming service business yourself and you need reassurance that there is potential in the business
- You’re just a vivid reader who wants to know stuff and this particular topic has got you lately
Doesn’t matter which one of the above categories you belong to. You’re going to enjoy this (especially if you’re here for the first reason)!
Here’s a quick overview of what this read is going to be about,
- Important statistics from the VOD streaming sector
- Niche streaming services and some of the best niche streaming service ideas
- Why are niche streaming services so popular?
- Successful niche streaming tips
We’ll be going forward based on the sequence listed above. If you ask why not jump right into the pool by skipping the statistics part, trust me, statistics are powerful and help you understand what you’re getting into!
VOD Streaming Services — Important Statistics & Trends
I couldn’t stop thinking about Netflix. So, let’s start from that!
- Netflix initially started out as a DVD rental service but now has more than 51% of Americans as its users.
- The United States video streaming app market generated a revenue of $7.1 billion in the year 2015 and it eventually grew to $24.1 billion in the year 2020.
- Netflix has around 75 million subscribers while Prime Video has 50 million subscribers and Disney Plus has more than 45 million subscribers.
- The original pioneers of video streaming were Youku and Todou. They were started in China during the years 2003 and 2005.
- Shudder, an American OTT platform that streams horror and supernatural titles, was started in the year 2015. And they already have more than 1 million subscribers.
- In terms of revenue, Netflix made $24 billion during 2020 and during the first quarter of 2021, Netflix made around $7 billion in revenue.
Now, I could go on bragging about the industry, but I believe you get the idea and the magnitude of it — see Shudder already having 1 million subscribers in less than half a decade?
That’s the kind of magnitude we’re talking about! Okay, to the next part!
What is a Niche Streaming Service?
A niche streaming service is where you run a streaming service with content from a specific niche, say sports or fitness, or cooking. For example, Shudder is one of the best niche streaming services example. As I said, their niche is horror!
There are a lot of niche streaming services available in 2021. And they are growing increasingly popular for so many reasons (we’ll see the reasons later).
Now that you are familiar with what a niche streaming service is, let’s look at some of the best niche streaming service ideas (you should find this useful since you’re looking forward to start one yourself).
Best Niche Streaming Service Ideas In 2021
To be frank, not all niches are going to take off! But on the bright side, there’s potential for almost all possible ones! Below-mentioned are some of the best niche streaming service ideas you should consider!
1. Sports Streaming Services
Sports are inevitable because they’re becoming more accessible. Times have changed and you don’t need a cable subscription these days, thanks to sports streaming services. Some of the most popular sports streaming services are Dazn, ESPN+, Locast, Paramount+, Slink TV, and more.
Let me show you a perfect of sports streaming services from the above — Dazn
Dazn — Boxing Sports Streaming Service
Like the topic says, Dazn is a sports streaming service that streams matches of popular boxers globally. Dazn boxing was launched in the year 2015 July and is currently available in 200+ countries.
The first match was streamed between Anthony Joshua vs Alexander Povetkin. Dazn, as of now, makes revenue more than $1 billion annually and has more potential in the future!
2. Music Streaming Service
Needs no introduction! What do you say? Some examples of music streaming services are Spotify, Soundcloud, MixCloud, Apple Music, and more. While these are more of a general music streaming service, niche music streaming services would stream a particular genre of music.
For example, you can come up with a music streaming service with only ballads, or community-specific music, or music based on a specific artist, and more.
As for the industry, it’s a 10 plus billion dollar industry and has great potential in the future!
3. Anime Streaming Service
There are more than 2.2 billion children globally and let’s say more than 70% of them would love to watch anime. And anime streaming services like Funimation, Hidive, and Retrocrush have already figured this out!
Anime streaming service could be one of the best niche streaming service ideas now! Hidive did it. Retrocrush did it. Why not you?
4. Video Game Streaming Service
This shouldn’t be coming as a surprise! The world has more hardcore gamers than you think! And a video game streaming service would be their ideal destination!
Some of your potential online game streaming competitors who are already doing a good job out there are Own cast, Twitch, and Caffeine!
When it comes to video game streaming services, you don’t have to put in much effort. Since most online game streaming solutions are open source, it’s just going to be plug-and-play.
I could come up with more profitable niche streaming service ideas, but it’s better if I move on to the next part.
Why Are Streaming Services So Popular?
Before we start, know this! This is the section where you’ll know how niche streaming services are finding success when they compete with OTT giants as well!
Let’s get started, shall we?
1. Niche-Specific Content
This is one reason why niche streaming services are becoming so popular and can compete with OTT giants. While Netflix and Prime Video offer a wide variety of content, Dazn boxing and Shudder restrict their platform content to a specific niche.
So, a person who is passionate about boxing or horror content will definitely choose the latter. And if they are giving these individuals quality content, there’s going to be a loyal subscription on the deck — it’s that simple!
2. Streaming Solutions & Mobile Application Suite
Another important reason as to why niche streaming services are successful against OTT giants. These days, there are a huge number of OTT Platform solutions one could come across. And they also offer dedicated Android and iOS applications that help individuals build a perfect niche streaming service.
The more accessible and easier it becomes to start a niche streaming platform, the larger will be the number of people going to try it!
3. People Look for Alternatives
I mean, who wouldn’t? Not every streaming platform is perfect. People find this out and when it becomes intolerable, they are going to look for alternatives! And when you give your platform at a competitive price, you’re going to see it work!
It’s just human nature — best-in-class services at an affordable price!
4. The OTT Era Has Just Begun
Though it has been a decade since Netflix started to stream movies and series, it has been more of a monopoly game! Prime Video stands next to Netflix and then there’s Disney Plus. Excluding the above, there aren’t simply huge competitors!
This only means that there is space in the arena! And as for the global audience, video streaming services are something they are embracing better than before!
The above-mentioned are the four main reasons why niche streaming services compete with OTT giants and become successful.. And the answer to the question “Why are Streaming Services So Popular?”
Now that you know the basics, let’s look at some tips to run a successful niche streaming service!
Successful Niche Streaming Tips
Truth be said, not all niche streaming services make it through! You’re just going to be small and unnoticeable at the beginning. But it can all change with these quick tips!
1. Choose An Ideal Niche
This is by far the most important tip when it comes to starting a niche streaming business. Make sure you choose a niche that doesn’t have many competitors but has a considerable search volume.
Finding one such niche is really important if you want to make your business successful!
2. Choose a Good Streaming Solution
It’s not possible to build a streaming website like Netflix from scratch today! Well, it’s possible, but it’s going to take at least a couple of months and huge costs. Which is why there are pre-existing streaming solutions that are open source and 100% white label.
Remember, choosing a good streaming solution can help your business go a long way in the future!
3. Strong Social Presence
Social Media is more of a free marketing medium! Establishing a strong social presence on platforms like Instagram, Facebook and Twitter can help attract more audience and eyeballs to your streaming business.
That’s Netflix USA having more than 27 million followers on Instagram!
4. Be Creative to Kick-Off
Initially, you’ve got to be creative to make sure your business is up and running! Anything from free premium subscriptions for a specific number of people to amazon gift cards for every referral will help increase the number of users on your platform!
Reach out to influencers and make them talk about your streaming platform! Or simply step out and implement guerrilla marketing tactics!
5. User Experience On Point
Make sure you get this etched on your mind! A good user experience can help you outrun your competitors and stand apart from the competition!
So, make sure your streaming platform gives users the experience they deserve. This helps increase WOM marketing and eventually, you get new subscribers to your platform!
Constantly look out for enhancement possibilities on the platform. Also, keep an eye out for the new features your competitors bring in — should help you get the job done!
The Bottom Line
Like I already said, not all niche streaming services are going to make it. But the ones that make it go a long way both in revenue and scalability. Dazn Boxing and Shudder are some of the best examples for this!
All you have to do is, identify the perfect niche, build the platform with the help of an OTT streaming solution and bring it to the limelight!
We’ve covered pretty much everything mentioned in the above phrase (and in the title of the read) here. So, what’s left is, for you to get started!
That said, I’ll continue my binge-watch then!
Cheers!
