Major discoveries and innovations have become the norm in today’s world. OTT services are no different. Apple, Amazon, Netflix, Facebook, YouTube, Hulu, HBO GO, Sling, and other major digital industry giants support the OTT industry. Over-the-top services are used by about 51% of households in the US.
With the huge market size of video application services, the business interest is growing rapidly. To build an OTT platform, it is vital to keep in mind all the features it should have. Read on to learn the details and make better decisions regarding your OTT application development project.
Choosing a Niche
There are many streaming platforms available in the OTT market, including Netflix and Hulu. By choosing a content niche, you can narrow the audience base for your content. A sports app for kids or kids’ apps for adults could be built. It is possible to develop an OTT app that can satisfy everyone’s needs.
Features to Prioritize
If you decide to launch a video streaming app, you should provide people with a variety of genre options in the search bar so they can watch a stream on your channel. There should be an easy way for viewers of all ages to locate the search bar.
Every user desires personalized accounts. The user profile feature can be introduced to accomplish this. Their personal video streaming experience will be enhanced if they save their account details on the platform.
Content should be multilingual
It is important for your video streaming app to attract a large audience. By considering which languages are most familiar to the public, the demographics can be increased. Netflix’s OTT success couldn’t be achieved by solely focusing on one language. Cell phones are the most popular means of streaming videos. To earn good business through your content delivery network, you must adopt custom mobile app development in different languages.
Introduce Social Features
Many of the OTT video apps are popular because of their user-friendly designs that control the audience. Trending videos and series are mostly watched through sharing. The number one secret to becoming popular like Netflix is allowing users to share their viewing on social media sites. It will facilitate easy promotion and organically attract other users by enabling social sharing. Direct links to popular social media networks will increase your channel’s growth.
List to watch later
Make a list of your viewers’ favorite shows and videos so you can attract more viewers. Some companies develop custom mobile apps that alert people when something new is added to their watch list. The recorded Watch Later list will allow viewers to enjoy the live shows even if they are not too exciting.
Many companies develop mobile apps offering in-app purchase options to increase their business. There is an in-app purchase principle underpinning all subscription-based video content and transaction-based video content. An effective plan needs to be developed by the mobile app development company to introduce such features. Major users appreciate this feature for the fluidity it provides when transferring money.
It’s imperative to provide users with the ability to download video content when building an OTT app. On many popular OTT platforms, users can download the content to view offline in the app. Netflix and Hulu, for instance, have long provided OTT platforms like their offline viewing feature.
Social media login and sign-ups
Using social media credentials should be an option for signing up and logging in. The OTT platform’s popularity will increase on social media sites through this campaign.
Choosing a Subscription model
- AVOD: Video-on-demand applications that rely on ad-supported networks are referred to as add-centric networks. To generate revenue from streaming videos, advertisers are used. Host, compensate, produce, and monetize content.
- TVOD: Transactional video on demand is when users pay per view. Users either pay once to get lifetime access to the content or rent a given piece of content for a short period.
- SVOD: This subscription-based video-on-demand feature is used by sites like Netflix. By paying the standard rate, subscribers may subscribe to a particular hour. Examples include Apple, HBO, and Hulu.
OTT Platform Development Costs
OTT video applications will become more expensive to develop and maintain as more features are added. You can expect to pay between $50,000 and $200,000 for an OTT video application. After you have developed your app plan, you will have to hire video app developers or try the auto-coding approach.
Your choice of technology stacks will determine the price of your streaming channel. It is also important to consider where the application development firm or team is located to establish an accurate cost estimate.
Your OTT app development needs to take into account various important factors. They include costs, features, and a subscription model. Ultimately your app is a business, so intensive cost-revenue analyses should be conducted beforehand.