Streaming channels like Netflix, Hulu, Amazon Prime, and others are dominating the TV industry with extensive offerings. These platforms not only deliver theater movies but also original web series and this could be one of the reasons that they have changed the way people view entertainment.
As the world has recognized the potential of OTT, it gives a great push to indie creators to launch their streaming platform using some of the best OTT solution providers.
However, there are a few things to keep in mind before you launch your own OTT platform.
What are OTT Platforms?
OTT short for over-the-top is a streaming service that delivers video content over the high-speed internet to the users. It explains the new way delivery method of TV content & film.
The OTT platforms bypass the way of delivering the content with the need of satellite pay-TV providers, cable, or traditional broadcast.
How does OTT Work?
You can access the OTT platforms in many different ways such as computer, laptop, smartphone, laptop, smart TV, or gaming consoles. There is no need for the subscription plan, but depending on the OTT you may need to subscribe before accessing the video content. The subscription plan can be monthly or yearly.
OTT platform stores the pre-record uses CDN (content delivery network) that stores the content and distribute it over the internet.
It uses the technology created for the web that securely helps stream the video files that are stored on the server. A request is made through the local CDN whenever a user selects any video to stream on the app.
Things to Consider Before Starting OTT Platform
It’s possible to start OTT services with an OTT app development company but there is a need to consider some of these things.
Content Discovery – We can’t deny the fact that ‘content is king’ that’s the reason unique & personalized content is very important. It improves the clients and customer loyalty.
The success of an OTT platform works on a powerful recommendation engine that offers a plethora of functionalities that let enable the users for finding the right type of content. With constant produced content from various media sources, it’s good to produce the original content to engage the audience.
This is a challenging task because it needs a lot of research that helps provide a personalized experience to the audience.
Video Monetization – It is not hard to monetize the video content as long you have great content. OTT platforms allow the users to choose from the 3 revenue models and these are:
- Subscription Video on Demand (SVOD) – Under this revenue model the users can access unlimited video content monthly or annually at some subscription rate. The users have full control of the subscription plan and can watch any of the video content.
- Advertising Video on Demand (AVOD) – This model allows the users to watch the video content for free without the need to pay for a subscription plan. However, monetization happens through the advertising in the video that pays for those ads.
- Transactional Video on Demand (TVOD) – In this revenue model the content is purchased based on pay-per-view by the users. TVOD offers the latest release content, that is beneficial to the right holders to generate higher revenue and viewer who can access the content on the dot.
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Customized User Experience –
User experience (UX) is the most important fact to consider . Because it is the only thing that attracts the users. Generally, 3 important factors matter the most in the journey of user experience, and these are:
- Look
- Feel
- Usability
Every user in this digital world expects personalized UX during interaction with the digital app. In a survey, a user considers some key things such as uncluttered UI, easy navigation, recommendations, option to search, high-quality video, and availability on different devices.
Push notification plays an important role in user experience that may ensure continuous engagement with users. However, keep in mind that you must allow the users to modify the setting of these push notifications.
Security & Content Protection – Privacy is very important from the prying eyes to make sure that you are delivering the content that you want. For this, you can encrypt the video streaming, dynamic watermark, strong passwords, or IP/Geo lock. OTT solutions providers provide the features where the content is secure on a cloud-based system.
Delivery of Video – A most important point to consider is the delivery of the content that’s going to be the bread & butter. In most cases, 80% of viewers leave when the videos don’t load quickly and buffer constantly. So, you must ensure to choose a good video hosting service that can deliver the content hassle-free.
Reporting & Analytics
To take further steps and make modifications you must always track the metrics. You can map the user behavior properly, only after gathering the data from the viewers that are watching the content. Most of the OTT solution providers offer these features.
Simple Payment Portal
A simple and easy subscription plans matters the most. However, you must first choose the revenue model that you are going to use. Also, include different currency options if you target international.
Multi-Device Viewing Experience
Many users like to watch on different devices. You must ensure that the OTT platform you are going to launch must be compatible with different devices, platforms, and multiple screen sizes.
Support
Last but not least, customer support is very important to make the app trustworthy. Any technical issue related to the app should be solved on a priority basis . And give personal assistance to the users.
Time to Launch Your First OTT Platform
OTT market is at boom it’s great to launch an OTT platform with plentiful opportunities. It’s a great business that continues to grow in popularity.
By taking into account the key considerations, you can easily craft a state-of-the-art platform that can easily fit . And stand out in this competitive market.
With OTT app development Company, CMS SaaS software by which you can easily build streaming platform according to you.
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