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Media and entertainment are one of the leading industries in current times. People have loved OTT platforms and the interesting content they provide. It has also unlocked new areas to earn profit for the creators.
Can you think of a time when you waited to stream your favourite TV show?
All you do these days is download a video streaming app and stream your favourite show at your desired time and desired place. The Digital revolution has made this possible. You pick someone’s phone and check the mobile apps they have, you will find either Netflix, Amazon Prime, Disney+ Hotstar, or Hulu, or you might find them all and many more.
This generation’s people don’t have time to watch the shows at TV’s scheduled time. They have their own schedule and stream something they deem fit. Also, the content users are interested in is changing which is better understood and fulfilled by the top OTT platforms. This has skyrocketed the need for OTT app development. Revenues in this industry are on the rise considering the increasing demand and high potential.
Reports from Statista clearly show that the revenue is consistently on the rise for the past few years. It is also predicted to rise in the coming years. So, if you want to become a part of this lucrative industry, this is the right time to get going and develop an OTT application.
Now, that we have established the demand for OTT platforms, let’s clarify what is OTT exactly.
What are OTT services?
OTT stands for over-the-top services. The clear meaning of this service is transmitting content digitally over the internet instead of telecasting it on traditional platforms like cable, IPTV connection, or broadcasters. With the advent of OTT platforms, users can access content through mobile applications or websites from different devices like mobile phones, laptops, desktops, and TV. Users can have the liberty to watch anything, at any time, and from anywhere. Most of the readers here have experienced the same in real-time but probably didn’t know the abbreviated form of the same.
Are OTT Platforms Replacing Traditional Platforms?
Time is changing a lot. Most family members are working these days which steals the liberty to wait for their favourite show to stream on TV and watch it lying down on the couch. Whereas, OTT mobile app development provides the liberty to the users to watch whatever they want and whenever they want. Here are the top three reasons why OTT is replacing traditional platforms in the current times.
Content on the OTT platform is available to the audience anytime and anywhere. The audience is not bound to follow a specific time or stick to a specific location.
A bulk of viewers feel that the cost of cable they pay for television is higher as compared to the cost of subscribing to an OTT platform. This gives them an added reason to ditch the traditional platform and switch to OTT ones.
Audiences these days have very limited time in their busy lives and hence want complete control over what they want to watch. This is why users not just have a subscription to video streaming apps but have multiple subscriptions to watch whatever they want.
Because of the above-mentioned reasons, businesses are observing a shifting pattern in the way audiences are consuming content. If you are on to developing an OTT application, here is the list of features to incorporate into the app. There are several business owners looking to develop clones of popular apps like Netflix clone app development or Hulu clone app development.
Features to Have in An OTT Mobile App
1) Create User Profiles
The feature is self-explanatory. The user can create their profile with their information like name, preferred payment methods, type of content they like, suggestions based on the likes, and others. Most of the top video streaming apps also allow the creation of multiple profiles for multiple people using the same app.
2) Multilingual Content
Video streaming app development is popular all around the globe. Hence, people knowing different languages access the app which makes it extremely important to have content in multiple languages. If you are looking to expand your business beyond geographical boundaries, this is one of the most important features to have in the app.
Users of the app can search for their favourite movie or TV show from the app without having to scroll a lot. They can also search based on the categories like Horror, Comedy, Action, Thriller, Romance, and many more. This will help the users immediately what they are looking for.
A watchlist is also an essential feature of the OTT platform. It allows the users to add the movies and TV shows that users intend to watch at a later date. If a user is browsing the app and come across something interesting but doesn’t have time to watch it immediately, can be added to its watchlist. This way they will not forget and not spend things watching when they actually have that time. The app also sends a notification to remind you about the things you have added to your watchlist.
5) Social Features
An experienced mobile app development company will guide you on why it is pivotal to have social features in the application. This feature will make the app shareable on the social platform which works as a strategy for business promotion. Users must be allowed to share their view activity on the social media platform and also be able to log in through social media platforms. This will also make onboarding easy and attract even more users to the platform.
6) Payment Integration
Payment gateway integration allows users to make payments for subscriptions through multiple modes. Difficulty in making payments or not finding the preferred mode of payment will make the users abandon using the app. Autopay can also be set to make the payment hassle-free.
7) Screen Mirroring
Mobile apps are transforming the entertainment industry and to increase the level of user engagement, it is eminent that users can access the app not just on mobile devices but also on TV, desktop, and laptops as well. There are two popular ways to make this happen. You can either implement the feature through Google Cast SDK or with AirPlay which works just for Apple TV and other linked iOS devices.
Types of OTT Apps
There are basically three types of OTT apps, know each one of them and decide which one works best for you.
1) Service-Based OTT Apps
This kind of app delivers essential services like taxi booking and hotel booking. Top examples of this category include Uber and Airbnb apps.
2) For Content and Communication
This category includes communication apps and audio or video streaming application development. Some prevalent examples of this category include Skype, Netflix, and Hulu.
3) OTT in Forms of Devices
OTT apps should support multiple devices which include Samsung TV, Apple TV, and Hulu.
How to make Money on OTT Platforms?
The ultimate agenda of OTT platform development is to make money from it. Before you jump into the final decision of development, it is important to plan not just the development and deployment but also how will you generate revenue from your OTT platform.
SVOD stands for subscription video on demand. The user will have to pay a subscription fee which can be monthly or yearly. Once they pay for the subscription only then they will be able to access the content. There are two types of models under this category, one where all the content will be viewed after the payment. Another is where limited content will be available to view and some will be kept premium for which payment is mandatory.
TVOD stands for transaction video on demand. In this model, the user will pay for the selected content they want to watch. Say for example they will pay for a specific movie or a specific TV show.
It stands for Ad-supported video on demand. Here all the content will be available for free to watch but it will contain ads that are paid. Businesses that want to place the ad in the app will have to make the payment.
Steps to Develop A Successful OTT Platform
There are just 6 simple for developing a trending video streaming application. Follow them precisely and you will end up with a fabulous app.
1) Pick A Niche
Being specific is the best thing you can do to enter a competitive market. Choose a domain and find your unique selling point. If you are not offering something unique or something extra, it is difficult to sell your app in this cut-throat competition. This is wise and then think twice before you enter the market.
2) Frame a Content Strategy
OTT platform relies heavily on the type of content you deliver. You need to accumulate good content in which your target audience would be interested. You cannot set aside what you are going to stream after the launch. In fact, it should be your priority. Content is the key to every OTT app development.
3) Choose Your Business Model
We just discussed the three app monetization strategies to pick before development. The subscription model, ad-based model, and pay-for-picked content are the three revenue models to choose from before development.
4) Build A Website
The use of the OTT platform is divided into websites and apps. The target audience uses both websites and mobile apps to access the content. Hence, it is important to create a website at the early stage only.
5) Choose Your Technology Stack
There are multiple OTT platform development technologies and third-party libraries and tools used to build your app. However, the final choice of tools and technology depends on the idea of your OTT application.
6) Hire an Experienced Mobile App Development Company
The last step of developing a mobile app is to hire mobile app developers which are experienced and experts in a specific domain. Ultimately developers are the ones who are going to integrate your idea into an actual app. Create a checklist before hiring a mobile app development agency.
All you need to know about the features, types, monetization strategies, or processes that are provided. All you need to do is start planning on your application and join the club of successful and top-ranking OTT apps.
Know some of the most common questions asked by people looking to develop an app in a similar industry. Feel free to share if you come across any questions.
1) What is the cost of developing an OTT app?
The cost of developing the app depends on the number and types of features chosen. If the development is complex, the cost will be higher and if limited features with simple development are there, the cost will be lower.
2) How much time is needed in developing an OTT mobile application?
The time to develop an OTT platform depends on the number and types of features, the complexity of the app, the experience of the company hired, the number of developers hired, and plenty of such factors.
3) How can you generate revenue from OTT apps?
There are three basic modes of generating revenue through OTT apps. subscription-based model, ad-based model, and pay-for-content model.
4) How to build OTT video streaming apps?
There are 6 steps to follow while developing a video streaming app:
- Pick A Niche
- Frame a Content Strategy
- Choose Your Business Model
- Build A Website
- Choose Your Technology Stack
- Hire an Experienced Mobile App Development Company