An online source stated, ‘’Between April 2019 and April 2020, global OTT traffic increased by 198%.’’
So if you’re looking to enter the OTT platform, then this is the right time to build one of your own.
Whether it is an OTT video platform or an OTT streaming platform, video content providers or business owners like you can reap instant benefits with the launch.
Hence to help you better in OTT platform development, this blog will be your guide.
Top 3 Ways OTT Platform Proves Impactful To Streaming Businesses
1. Increase in digital video viewing
With the pandemic in place, the rise of the OTT platform took place quickly and was adapted in the same manner. While in-person entertainment has always been a preferred choice, the pandemic had other plans. With everyone indoors, OTT platforms became the hub for entertainment to be accessed in the safety of homes.
With the affordable pricing package along with the versatile content provided, OTT video platforms became a preferred choice. Hence this growth will seem to continue once the pandemic ends due to the convenience provided to access content anytime, anywhere.
2. Focus is more on user experience
Today the content being provided by the OTT space is more focused on delivering a better user experience. User experience has always been the key and this has been proven with the way OTT platforms are built today. To make it more convenient, OTT owners are focused on providing a systematic process for anyone to find or explore content. There are multiple features being added to refine the process even better. In such cases, the growth of these platforms will only tend to increase.
3. Competition in the OTT space is growing
While the OTT platform started with a few common names, the competition is growing with time. With the market having so much value, OTT owners just like you are making their way into the industry. Today if you search online, you will find multiple OTT providers on the list. Hence to be the most considered, your OTT platform development needs to be the best.
Which Industries Are Incorporating VOD Solutions in 2021?
Entertainment and media
This platform is making use of OTT via the broadcasting method. This ensures that their content is being broadcasted to all places while conducting the action in one place.
Fitness and sports
Sports content can easily be accessed on your smart TV with the broadcasting option. Fitness content too can be accessed via a streaming option wherein users can either subscribe or pay a fee to watch the same.
To enhance a better learning experience during the pandemic, the education sector is leveraging OTT platforms. With the latter, education has become more interactive and fun.
OTT platforms can be used well to share seminars or podcasts and multiple events wherein information shared can prove to be beneficial for brand growth. Such content is highway viewed by business owners and this can help generate better revenue on the same for you.
Religious spaces too have included the use of OTT platforms to deliver their service. While we see religious places still unopened, the use of this platform bridges the gap to attend a church virtually.
6 Benefits of Building Your OTT Platform In 2021
1. Increases brand awareness
If your OTT platform provides top content to viewers, the latter will continue to use your platform. Viewers will engage with brands like yours who make it convenient as well as provide multiple options to stream content.
2. Highly scalable
ROI can easily be increased in OTT platforms as it is highly scalable. It increases the scalability wouldn’t be the issue that needs to be catered to.
3. Easy to monetize
With multiple monetization options available such as pay-per-view, subscriptions, and more, it has become easy to generate revenue from the content you provide.
4. Decreases time for OTT platform development
You no longer have to work your way to create an OTT platform from scratch. There are ready-to-use OTT solutions that can help assist you here.
5. Gives you control over the content to show
Choose which type of content you want to exhibit for your type of audience. Fix schedules and more based on the way you wish to cater to your viewers.
6. No limits on viewers or accessibility
The best part of an OTT platform is that there is no limit to how viewers wish to access your content and moreover how many of them they are in number.
Top Tips to Keep In Mind before Investing In an OTT Provider
- Provides high-end security features
- Should have a reliable content management system in place
- Provides accessible API solutions
- Around the clock OTT technical support
- The Pricing package that offers better value for the price shared
While you have all the information to get started on creating an OTT platform, we suggest taking the assistance of expert OTT platform providers to set up your OTT services. They offer enhanced features have proven to enhance the platform better. To name a few are progressive web applications, multiple logins, watch list, sleep timer, and more.