Out of 40 leading OTT Platforms, which one will you select?
There are quite a lot of OTT providers in the market to choose from, but still consumers choose some countable number of OTT applications. This statement gives you a clear understanding on how competitive and big the OTT market is to reap revenue from it.
OTT platforms are now a growing segment of the Entertainment industry.
“The OTT sector in India grew by 59%, according to an EY and FICCI report, aptly titled ‘Billion screens of opportunity’, is set to touch ₹17 billion in FY2019, from ₹13.5 billion a year earlier, and is expected to hit ₹24 billion by 2021.”
Undoubtedly the potential of OTT platforms is going to plough profit; thus, people are keen to dive into the OTT business. The selection of OTT platforms will directly or indirectly pull the strings of profit, incomes, reach ability, and connectivity.
OTT platforms are widening the scope but it will be all in vain if the development of the OTT software doesn’t align with the current trend, infrastructure, features, with the technology to distribute OTT content and many more.
The Secret Sauce of Building a Successful OTT Platform to Generate Profitable Revenue with Your OTT Content
“The OTT market is expected to grow $138 billion by 2023 which is one of the highest market share technology-driven entertainment platforms.”
This data signifies that digital entertainment has made a place in our lives. To stamp your platform’s name on that space, OTT platform development should be done with precision.
A minor loophole in the development of the OTT platform will give your competitors a golden chance to take over your position.
How to build OTT apps or platforms? If you have ever searched this question online, here is your answer!
Time is Money!
Having a proficient in-house tech team to build the OTT is quite uncomplicated and in other ways, it stays on your neck if you don’t have tech engineers to play with the streaming infrastructure, Content delivery networks and more.
Experts do suggest that going with an enterprise providing OTT solutions or APIs to build one can reduce the burden of managing the infrastructure and development process. With help of OTT solution providers, you can reach the market in a fast phase, i.e., quick-to-market strategy.
|Take enough time to develop the platform. Generally, it ranges from 3-4 working weeks.||No need to hurry the process. Some organizations or platforms tend to build your OTT application in a day.|
The server is down? Buffering, Buffering, Buffering
We all hate this buffering process, don’t we?
We also get irritated by the fact that the server is down. In this scenario, the host plays an important role. The host will regulate the immediate play or display of the content. If the server or hosting isn’t done properly then it will be a major drawback for the entire OTT platform.
Server/Host regulates the entire uninterrupted experience of OTT for users.
The server can change the entire experience of users, in today’s era; people/viewers prefer 4G data speed. A server should be able to match the load of the speed.
|Run a dummy project on the platform and check how the content is hosted by the server.||Don’t prefer cost-cutting when it comes to investing more on a server/host.|
Digital Rights Management can be a turning point.
Are you aware of DRM? Digital Rights Management is shortly known as DRM.
OTT platform architect is a point that every content creator looks up to. But a lot of people fail to gain in-depth knowledge about DRM. OTT is a big revenue source in digital entertainment. While entering into the digital world one must be aware of the rules and regulations of it.
If you are building an OTT video platform and publishing content that doesn’t match the criteria of DRM or breaks the law of DRM. Content should comply with the laws of DRM and copyright to stay away from any conspiracy.
|Check all the content that will be shared on the OTT platform complies with the DRM rules.||DRM is mandatory to be followed, don’t eliminate the risk associated with failure in complying with DRM.|
Gather in-depth knowledge about Content Delivery Network?
Do you know how Amazon ships the orders or packages instantly?
It happens with a magic tool which is known as CDN i.e. Content Delivery Network.
A content delivery network (CDN) is a system of geographically distributed servers used to transport media files. This removes the bottleneck of traffic that could result from delivering streams with a single server, as only a single stream is required for each rendition of an outbound video.
The server will keep streaming the content flawlessly and users will have a smooth experience with your OTT platform.
|Develop a systematic Content Delivery Network so that users will never think of shifting to other OTT platforms.||You cannot eliminate the step of developing CDN. In absence of CDN, the OTT platform will not be able to function.|
Offers and Updates are part of OTT platforms:
Remember the notifications we keep on getting now and then about updating our favorite social media applications?
Updates are necessary to keep the application or platform gel up with the trends and required techno backups. If the application is not updated from time to time then it will be difficult for the OTT platform creator to fix the bugs.
Offers are also required as it will keep the audience loyal to the platform. Every Day an ample of shows is published on various OTT platforms, to stay in the league some offers can be of great help.
|Spend time in designing the updates and offers, fixing the bugs, and keeping the application updated with the trend. Can provide the latest version FREE.||Offers should not be fake or just for the sake of giving. It should be genuine enough to drive the traffic or engagement from the audience/viewers.|
Data & Content security should be the priority:
There has been much news about the data scam, a lot of applications or platforms are sharing the data of the users and that is risking the privacy of the users.
|The users should be confident to make use of the platform, ensure safe browsing or usage of data.||Creating opportunities of misleading users’ information or content copyrights may lead to removal of application.|
Content Management & Segregation is “need of an hour”:
While making use of any OTT platform, the content displayed in the window is based on the priority or preference of the viewers. Not only from the viewer’s perspective but also from the revenue point of view the segregation is crucial.
The revenue management team can easily segregate the data it can be based on:
- Business genres
- Other points of Segregation
This allows regional marketing teams to effectively manage the business against their user and revenue targets.
|The segregation will make the content creators more loyal towards the platform. Keep the segregation simple to understand and easy to implement.||Don’t just segregate income or content randomly.|
One Account – Multiple Login:
Screen casting, multi gadgets view, and other facilities are required by every viewer. These are basic facilities needed by the viewers on OTT platforms. Users tend to use multiple devices; to buy different login credentials for each device will be a lethargic task. However, if multiple logins are allowed user experience can be made better and worthy.
|Allow account sharing to attract more viewers.||The login process should not be messy or technical.|
Post Production is an integral part:
Post Production is not only associated with the movies. Even OTT platforms need to be very picky about the pre and post-launch of OTT platforms.
Whenever a new show is launched on currently established OTT platforms, a lot of TV commercials are telecasted in its reference and that is done to spread the maximum word about the show and OTT platform.
POST and PRE launch of OTT are deeply connected with the production house, sponsors & co-sponsors. It is decided by them how to create a hype before launching the new OTT platform and how to keep the on-going OTT platform serve better.
|Make a series of plans for pre and post-production plans and then decide which will serve more benefits.||Don’t copy the advertising plans of other OTT platforms or follow them.|
What about Performance Analysis?
Even a simple social media platform like Instagram provides insight, and here we are talking about OTT platforms. If the platforms are not providing accurate data or insights or details to the content creator then the tables will turn around badly.
Analytics will help the creator to understand the preferences of viewers, get details about the content that’s trending and stay updated with the trends, with the help of these creators will be able to perform better and ultimately the platform will keep progressing.
|Analytical dashboards give a brief about every action taking place within the application. Let’s say like tracking user behavior, Content watch time, & more.||Without the configuration of analytical tools, understanding the performance of your OTT platform and taking forward to next-level is quite impossible.|
“Install Application” is the phrase that initial-time-time success, we all knows that OTT platforms have given wings to the Entertainment industry. The survival strategy for OTT platforms begins with platform formation and content creation. It’s not a one-time victory game, everyday efforts are to be made to make clients stick to the platform or stay engaged.
To get this goal achieved, OTT platform makers will keep investing in advertising and that may increase the cost. Building leverage between OTT platform performance and profit, it is necessary to develop a smart strategy.
To stand different in the league it is necessary to select or develop the OTT platform that has a minimal developing cost and maximum benefits. The features should be incorporated into the platform in such a way that users or content creators find it worthy; it should be a complete value addition for them.
The wisdom says the OTT segment of the Entertainment Industry is a progress booster if the platform is well developed and VPlayed is suggested by many digital enthusiasts to get a better OTT experience.
VPlayed comes with a complete package that is welcomed by content creators and end viewers.
Developing an OTT platform is a good decision, starting it with VPlayed makes it the best one!