Yes, OTT is no more a fad but a reality we all live with today. It is a part of our modern-day lifestyle, which has been digitally induce since the pandemic. It is the most-picked medium for users to stay engaged with video content and news. The very concept of OTT refers to “over-the-top,” letting users stream content straight from the web.
These platforms depict the future of the entertainment industry. They are using trending technologies by an OTT app development company to manage and distribute video content across Mobile apps, Smart TVs, And the Web.
The Popularity of These Platforms is on the Surge and Some of the Stats Suggest:
Skyrocketing growth of OTT Video revenue is projected to reach $171,772 million in 2021.”- Statista
When streaming video, 65% of the time, it’s done on mobile and TV apps rather than on browsers. (Uscreen)
In the OTT Video segment, the number of users is expected to amount to 3,930.3m users by 2026.- Statista
The average revenue per user (ARPU) in the OTT Video segment is projected to amount to US$85.85 in 2022.- Statista
These stats are sufficient to let you know the popularity meter of this platform. These platforms give consumers an incredible approach to access content on their own terms any time, anywhere & using any device.
No wonder OTT platforms dominate the global entertainment industry, enticing every business professional to launch OTT services.
If you are looking forward to building an OTT platform that can boost your revenue goal, this blog post is for you.
Let’s read it ahead to explore how you can build an OTT video platform and check its technologies that can be a game-changer for your business goal.
How to Build an OTT Platform?
Decide the Niche
OTT platform is a general idea, but something that makes it unique is the niche. You need to decide upon the right niche and search out what your users demand. A dedicated platform catering to the users’ demands would help earn a good volume of subscribers.
Build Content Inventory
OTT is all about the content it streams, and if the content is boring, no matter which technologies you have integrate, it will never be admired by your users. Henceforth, it is very significant to know the type of content to be streame on the platform. You need to plan in advance if it would be in season, subscription-based, original movies or director’s cut, etc. Once you have decided on it, you only need to proceed with the other segments.
Business Model Selection
To monetize your OTT, Live Streaming Apps, selecting the right business model is significant. Below we have mentioned a few important models to pick from.
This model allows OTT platform users to sign up for free, but they have to pay in order to access the content. It is more like a pay-per-view model, wherein users can view and download a piece of content.
Some of the best examples of subscription business models are Netflix, Amazon Prime, and Huli. This model allows users to access a particular type of video content for a fixed fee called the subscription fee.
This model is one of the most profitable sources of income for OTT platforms. But it can only be integrated once your platform has gained substantial viewership. At the same time, it must be implemented within the platform after thoughtful sessions with the stakeholders, as implementing it wrongly can make you lose viewers.
This is the model which is picked by most of the OTT players in the market, wherein free, freemium, and premium categories would give them access to the consumers for the type of content they want to view.
Web App Development
The web app is the first step you need to proceed with once you decide upon the technology and other aspects. An intuitive OTT Web app helps in facilitating an overall easy and convenient user experience, encouraging them to stay glued to your platform.
Mobile App Development
This is the crucial aspect that must be considered after research and then executing the development process. It should not be picked with a random approach, as there are multiple factors that can impact your app’s success or failure. You must hire an efficient OTT platform app development company to build a product that matches your users’ expectations.
Essential OTT app features
It is an essential feature, allowing users to navigate within the platform. Here a simple onboarding process must be given, where users can sign up through their social media credentials, mobile numbers, or email IDs.
No OTT platform is complete without integrating the search option. Moreover while designing this feature, something that must be considered is adding different filters for an easy and seamless journey.
This is more like a favorite list, letting users add videos and watch them when they login to the OTT platform.
In-App Purchases and Payment Integration
Users can buy certain content/products within the platform without bouncing off with this feature. Secured payment gateway integration enables users to have a seamless payment experience.
Moreover, this dashboard feature enables the admin to moderate user-generated content, manage payments and give a look at advanced analytics.
The screen mirroring feature allows users to access the OTT platform on multiple screens like desktops, laptops, TV, etc.
In this feature, the video service provider can integrate notification systems to generate alerts that notify users about what’s new coming on the OTT platform.
This allows the admin to deliver the best watching experience to the viewers and get insights into content, considering integrating the feature of analytics to the video player.
How Much Does it Cost to Build an OTT App?
You should know that the cost of developing an OTT app is not dependent on one but on multiple factors, such as the type of technology, the number of features, the location of selected developed, different app OS platforms, and many more.
If you want to get an accurate numerical figure of cost, you must share your requirements with us and get a ballpark figure for your project.
Technologies Utilized in Building an OTT Platform
The Nginx server can handle a larger amount of coexisting connections. It further helps in holding the static files and easily streams content in HD quality.
The security feature is not something to be taken for granted for OTT streaming success. In such platforms, DRM and AES encryption should be taken into consideration for integrating
relevant security systems for protecting any content from unauthorized access or copyright issues.
OTT service providers use the AWS cloud service for their cloud storage component for the best performance. It helps in experiencing the high-performing and reliability for enhanced business revenue and growth.
High-end Content Delivery Network (CDN)
OTT brings the traffic inside the core network with the CDN providers and increases the low latency. It also guarantees progressive performance for such platforms.
Multi-Device Access & Support
You should allow your users to experience flexible accessibility across multiple platforms. The OTT platform must be compatible with a wide range of devices such as Mobile, Web, Smart TV, Tablet, etc.
An OTT platform requires seamless content distribution and smooth functionality across various platforms. Here the inclusion of the right IT structure to devise the correct path will help make the project a cost-effective solution.
The two most relevant streaming protocols used in OTT streaming are HTTP live streaming and RTMP. It helps users experience low latency interaction and transmission of maximum data.
Why is CMARIX Your Best Bet to Build a Mesmerising OTT Platform?
Building something engaging that captures users’ attention always requires the skills and expertise to build a unique and right streaming platform. At CMARIX- On-Demand Food Delivery App Development Company India, we have years of experience building scalable OTT platforms, and our team members are well-equippe with the latest tech trends. We have built and deployed successful solutions with the right monetization model and compatible streaming across devices with our team.
Today’s consumer is digitally educated, preferring OTT over traditional TV for a rich and engaging content experience. There is a lot that goes into building an OTT platform that suits your audience’s taste and choice, and to make it work in your favor; you need the expertise of an experienced player in the market.
And nothing fits the bill here but CMARIX- An on-Demand Application Development Company has prior experience in delivering incredible OTT web and apps to some of the renowned brands in the market. Moreover, we offer end-to-end custom OTT solutions as per your specific business needs.
Get in touch with our team to explore everything that falls between development, design migration, testing, and support.