Well, there was one industry hit hard by the COVID-19 outbreak, and it is nothing but “Fitness.” These days, live video streaming has transformed every industry, and fitness is not an exception. Apart from business meetings and conferences, live streaming provides numerous benefits. Are you ready to provide your online fitness streaming platform the digital boost it requires to avoid a coronavirus-induced business slump? To make this work, you’ll need to make a few changes. After all, times have changed, and different actions require different times.
Before we continue, it’s important to note that our research indicates that this interactive fitness platform still has a lot of room for improvement.
Before we move into the nitty-gritty, let’s have a look at some of the statistics:
- According to Statista, there are over 174+ million club members worldwide.
- Due to the increased demand for online fitness studio platforms, the live streaming fitness market will grow at a 35% annual rate until 2026.
- According to Statista, there are approximately 201,000 fitness clubs worldwide.
- In terms of revenue, the fitness and health industries are growing at an annual rate of 8.7 % (Wellness Creatives).
- The fitness club industry generates $27.6 billion in revenue in the United States every year (Statista).
Once it comes to online fitness classes, Fitness Streaming Apps serve as a link between instructors and athletes/fitness enthusiasts. In addition, such apps are interactive. Users, however, can not only view the content but also ask questions, receive immediate feedback, and connect with other users via the fitness live streaming platform.
It’s a fitness training management platform that allows fitness instructors to host live one-on-one personal training sessions, pre-recorded sessions, group classes, and more. You can create your own training platform or add multiple trainer profiles for which you can earn commissions.
Basic Fitness App Features Required for Online Fitness Platform
It is your responsibility to select the Fitness streaming app features, design, and monetization model for your Fitness app. However, in this section, we will discuss a few features that benefit Fitness App.
Take a look at these fitness platform features that your fitness app developer must include while developing a fitness app for a startup:
Video Streaming
The growing popularity of fitness video streaming platforms with 100% customizability, On Cloud/On-Premise, Progressive Web Applications, Social Login, and White label fitness VOD platform can help you gain complete ownership and leverage with the best durability.
Live Streaming
Live streaming allows you to communicate with the audience in real-time, which was nearly impossible in the days of aerobics videotapes. With Live Linear, Live To VOD, Simulcasting, Webcast to Mobile Devices, Audience Chat, and Live Q&A, you can begin your healthiest life journey at a lower cost than ever before.
Content Management System
A video streaming CMS hosts, stores, and labels video content using specialized video management software. Allowing you to search and stream your video collection to find what you need. Furthermore, it includes features like bulk upload, video, and audio scheduling, multiple media format support. A content partner portal, database management, import and export content, and more.
Monetization Models
Although there are dozens of ways for broadcasters to monetize video content, the efforts fall into one of these four monetization models: subscription VOD, advertisement VOD, pay-per-view, and third-party ad. The best option may change over time depending on where you are in your business’s life cycle.
SVOD Platform – Subscription Video on Demand that refers to video streaming services that users must subscribe to in order to access
AVOD – Advertising-based Video On Demand is what viewers are “paying for” with includes free content funded by advertisements.
PVOD – Premium video on demand is one such that allows movies to pay a one-time fee.
TVOD – Also known as Pay-Per-View, the TVOD model sells or rents individual videos to customers, just like video stores did in the old times.
All Device Player
The best fitness platform uses a powerful adaptive media player to host and stream live video. The robust Fitness video streaming application will use all device players. To provide viewers with access to your content regardless of the device or browser they are using.
DRM & Security
DRM- a must-have streaming app feature for any live and on-demand video streaming platform. Ensures that Video content is encrypted, stored, and transmitted in an encrypted format. Allowing only authorized users and devices to play it back. The primary goal of digital rights management (DRM) is to prevent people from accessing, duplicating, and sharing copyrighted digital files.
Reporting & Analytics
With the real-time video analytics and reporting feature. You can easily keep track of the performance of your content. With up-to-date real-time video analytics reports of live and on-demand videos.
Over to You!
However, if you want to make your ideas a reality, you’ll need an expert team of analysts, designers, and developers. A high-quality fitness app matched with your business strategy can provide a competitive edge. Especially in a crowded market like fitness and sports.
Due to the Covid 19 pandemic’s self-isolation, the popularity of fitness and health apps has skyrocketed. So, if you intend to create your own fitness app or create your own workout app, it is your opportunity to dominate the market. We wish you good luck to join the best fitness platform.
