Thinking of Launching an OTT Platform ? Key Insights to Consider

As an entrepreneur looking to bring your content directly to your audience, launching your own OTT platform is a strategic move that can significantly elevate your business. Not only does it offer enhanced customer engagement, but it also provides complete ownership over your content, allowing you to unlock new revenue tailored to your unique needs, which can be hard to come by in the case of traditional platforms. 

With your own OTT platform, you get the opportunity to deliver content globally, exactly how you envision it, using personalized content delivery options to enhance the viewer experience.

However, building an OTT platform solution is a different ball game altogether. The platform would require a robust technical architecture that supports diverse features while remaining scalable to meet the growing demands of your business as it evolves. To create such a solution, it's crucial to understand the technological framework and the development process involved. 

Moreover, partnering with an OTT development company can be instrumental in helping you navigate the complex developmental challenges faced during this process. In this article, we will cover all these essentials for OTT platform development to provide you with key insights needed to build a scalable-high performing platform that aligns with your business goals.

Some crucial points to consider before starting your OTT platform project: 

1. How does the platform align with my business objectives?

2. What is my long-term vision for the OTT platform?

3. What kind of content will I offer to my viewers? Original, license existing content, or both?

4. How will I differentiate my platform from my competitors?

5. What key features will be provided on the platform?

6. What is my budget for developing and launching the platform?

These are some of the important considerations that you will have to keep in mind before initiating your OTT project, to help maximize the value of your efforts and build a high-performing solution for your brand. Deciding on these metrics will allow you to effectively prepare for the challenges that may arise before, during, or after the development process.  

Understanding the Key Steps in Developing Your Own OTT Platform: 

1. Deciding on a niche and strategy for your platform 

 

In case you're unsure about where you should start, conducting detailed market research can be the right step to understand your current position, what to expect and which direction to take in developing your platform. It will provide you with valuable insights into your targeted audience, and competitors. These factors will help determine your niche and shape your platform's strategy.

Choosing a niche is directly tied to the audience that you want to serve. By thoroughly understanding your audience you will be able to decide which features your platform should offer, how it should look, its accessibility, and more. For example, if you're developing an OTT solution for fitness enthusiasts, incorporating features such as workout trackers, in-app purchases, and filters according to durations, intensity etc can effectively help users reach their fitness goals.

Overall, the platform wouldn't just be a one-time effort but a system that needs to continuously evolve with technological advancements, audience growth and changing business requirements. The more in-depth and specialized your strategy is, the greater the value your users will find in your platform, leading to higher chances of success.

2. Opting for the Right Content Strategy & Licensing: 

Content strategy for your OTT platform involves everything ranging from planning, curating, and delivering content that your audience will find worth watching and can resonate with. To get content on your platform, you can ask for it directly from production houses, content distributors or partner with other companies to create or produce your own material. 

In case you decide to create and showcase your own content, then you won't be required to get into licensing and completing legal formalities. But if you have chosen to get it from external parties, then it is essential to have the necessary legal rights for showing it without any complications. You may either get exclusive or non exclusive licenses depending on how long you want it on your platform, region and revenue sharing. Moreover, it is important to keep digital rights management (DRM) in consideration for a seamless process. 

Also Read: Video Streaming Protocols : All You Need To Know

3. Choosing the right business model for your OTT solution: 

Setting up your monetization strategy will greatly depend on the kind of content you wish to serve to your audience and the market you want the platform to operate. Primarily, there are three main types of payment models you can choose from- Subscription Video on Demand (SVOD), Advertising Video on Demand (AVOD) and Transactional Video on Demand (TVOD) .

However, if you don't feel comfortable with the ‘one-size-fits-all' approach, you can also opt for a hybrid model by combining more than one of these models:

 

1) Subscription Video on Demand (SVOD): In this type of model, users are offered different pricing-based subscription options where they can opt for the type they feel comfortable paying for. Generally, the most commonly provided subscriptions range from basic, standard, and premium, with fewer to more features depending on the price for a particular duration.

Similarly, the pricing may also dictate the accessibility to the content. For example, the basic option may provide only domestic content but the premium option may offer both local and global content and in multiple language options. Eg. Netflix, Disney Hotstar+, Amazon Prime, etc.

2) Advertising Video on Demand (AVOD): With this model, users can enjoy the experience of watching a TV with revenue being generated from the advertisements displayed before, during and after the content is played. Popular platforms like YouTube and Tubi follow this model and provide their users free access to content in exchange for watching ads.

3) Transactional Video on Demand (TVOD) or Pay-Per-View:  For the TVOD model, users have the option to pay for specific content where they can either rent or buy it depending on their preference. It's a preferred model by companies like Google Play, Amazon Prime etc, for offering exclusive content like new movie releases, live events, special programming, or content that is not available on subscription services. 

4. Select the features for your platform: 

(O) User Profiling: As you aim to serve multiple users on your platform, user profiling can help provide a more personalized experience by catering to their demographics, preferences and past viewing habits.

(O) Payment Integration: For users to access your OTT service and its features, payment integration is a non-negotiable aspect that must be implemented within the platform. The feature will allow users to make payment through multiple methods including credit/debit cards, digital wallets and currencies as per their preference.

(O) Offline Viewing: To allow  users to watch content without an internet connection, offline viewing can be added as a feature within the platform, enabling them to enjoy their preferred content whenever they want.

(O) Push Notifications: With the help of push notifications, users can be notified of new releases, subscription renewals and platform updates that can significantly elevate user retention and engagement for your OTT solution. 

(O) Live Streaming Support: The live streaming feature can attract large audiences to the platform by offering  exclusive real-time broadcasts of events, sports and webinars, where users can even interact through comments and reactions. 

(O) Accurate Search Bar: A precise and accurate search bar is integral for content discovery within the platform, where users can search their desired content by typing in keywords, titles and categories. A robust search bar can serve as an effective tool in minimizing user frustration and improving satisfaction for your service.

(O) Social Media Sharing : By adding a social media sharing feature, you can organically promote your platform and increase its visibilty when users share your content on social media among family, friends and others.

5. Opt for a robust technical framework that can evolve with your requirements

The technological framework is the backbone of your OTT platform. It involves selecting the right tools, infrastructure, and technology stack to support your platform's features efficiently.

a) Scalability: Your platform should be built on a scalable framework that can handle increasing numbers of users and higher content demands. By choosing cloud infrastructure or expandable servers, you ensure your platform performs smoothly without slowdowns or crashes, even as your user base grows and usage peaks.

b) Content Delivery Network (CDN): A CDN is a network of distributed servers that deliver content to users based on their geographic location. It reduces loading times and ensures high-quality video streaming, providing a fast and seamless viewing experience for users across the globe.

c) Security and DRM (Digital Rights Management): Security measures like encryption and DRM protect your platform and its content from unauthorized access and piracy. These tools ensure only authorized users can access and view content, safeguarding your platform from theft and ensuring that your investment remains protected.

d) Multi-Device Support: Your platform's framework should allow access across various devices, including smartphones, tablets, smart TVs, web browsers, and gaming consoles. Multi-device compatibility improves user engagement by enabling users to watch content on their preferred devices whenever and wherever they choose.

e) Video Encoding and Compression: This process involves converting and compressing video files into formats optimized for efficient streaming without compromising quality. Proper encoding and compression minimize buffering issues, ensure smooth streaming even with slower internet speeds, and reduce data consumption, particularly important for mobile users.

f) API Integration: APIs (Application Programming Interfaces) enable your platform to interact seamlessly with third-party services such as payment gateways, user analytics tools, or external content providers. This integration adds rich functionality and enhances the overall user experience by allowing smooth interoperability with other services.

g) User Analytics: Analytical tools track user behavior, including viewing habits and subscription trends. These insights provide valuable data to help you understand which content is performing well, where users drop off, and how to improve platform features. Data-driven decisions are key to optimizing your platform for success.

By integrating these features and ensuring your platform's technological framework is strong, you'll create an OTT solution that not only meets user expectations but also scales to support future growth.

6. Opt for User-Friendly Interface that Aligns with your Brand: 

To ensure that the audience is able to differentiate and appeal to the platform amongst its competitors,  it's crucial to opt for a user-friendly interface that aligns with your brand. This means creating a platform that's intuitive and easy to navigate, allowing users to find and enjoy content seamlessly. 

At the same time, the design should reflect your brand's identity through consistent use of colors, fonts, logos, and overall style. By combining usability with brand alignment, you enhance the user experience while reinforcing brand recognition and loyalty.

By incorporating all these steps in your OTT platform development process, you can build a scalable and robust solution that will grow alongside your business. 
 

However, creating a secure and reliable technical infrastructure is a time and resource-intensive task that requires extensive experience and careful planning to achieve the exact platform you envision. Partnering with a reliable technical expert can alleviate the burden of developing such a solution, allowing you to focus your time and efforts where they are most needed.

How Oodles Can Help You Deliver a High-Performing, ROI-Driven OTT Platform:

At Oodles, we provide comprehensive OTT platform development services, ensuring your business delivers a seamless, high-quality streaming experience. When you choose to work with us, you'll benefit from:

• End-to-End OTT Solutions: We offer full-cycle OTT development, from platform design and content management systems to monetization strategies and user experience optimization, ensuring that your streaming service is built for success.

• Custom-Built Platforms: We design and develop OTT platforms tailored to your specific needs, enabling you to deliver unique content experiences that align with your brand and audience.

• Multi-Device and Cross-Platform Compatibility: Whether it's smart TVs, mobile devices, or web platforms, we ensure your OTT service works flawlessly across all devices, delivering a consistent and engaging experience for users.

• High-Quality Streaming and Performance: Our team focuses on creating robust architectures that ensure high-quality video streaming with minimal buffering, optimized performance, and scalability to handle growing audiences.

Whether you're a startup or an established enterprise, Oodles can help you achieve your goals and stay ahead in the competitive market. Partner with us today to start your digital transformation journey and turn your visionary idea into an industry-leading success.