OTT platforms have caught the attention of millions of people in the past few years, especially during the Covid-19 pandemic. This was the time when theaters were shut down. So, people are looking for an alternative way for entertainment. Hence, OTT apps are widely noticed.
People almost spend their leisure time watching movies, TV series, reality shows, and many more via the OTT platforms. Some popular ones are Netflix, Amazon Prime, and Disney+ Hotstar. The global OTT market’s size would reach $1,039.03 billion by 2027, with a growth rate of 29.4%.
There is no surprise that entrepreneurs are stepping forward with OTT app development. If you are among these aspiring entrepreneurs, this blog will guide you through key steps that have to be followed during OTT platform development.
Steps to consider during OTT app development
- Choose a niche - Market Analysis
It would be necessary to determine your niche to mark your presence in the competitive marketplace. To do so, you should have a clear understanding of the market trends. Besides that, you should also know who your target audiences are and what their preferences are.
Alongside, you can analyze the strategies of existing big players like Netflix and Amazon Prime. Thus, try to overcome their shortcomings in your business. These all will pave the ways to be successful and stay ahead of your competitors.
- Decide a content inventory
Developing an OTT platform is a common idea. You have to decide which kind of content to be streamed in your app based on your target audiences’ preferences. It is the backbone of your business and so makes your offerings unique and interesting.
- Select a business model
The decision of the right business model is mandatory. Standard business models of OTT platforms are advertising-based, subscription-based, and transactional. Among these three, advertising and subscription models are most commonly used.
- Choose appropriate features
It plays an important role in OTT app development. Consider the following relevant features. Apart from the general features, contemplate adding unique features to make your app distinctive.
- Onboarding
- Search
- Watchlist
- Payment gateway
- Push notifications
- Pick out the technology stack
Make a wise decision to choose the technology stack upon analyzing various market aspects. Ensure to prefer the latest technologies for better functionality. The standard technology stack is listed below.
- Programming languages - Kotlin, Python, Swift, Javascript
- Libraries & frameworks - React, Win.JS, NodeJS
- Database and cloud services - Oracle, MongoDB, MySQL, Cassandra, Amazon EC2
- Third-party APIs - AWS, Wowza, Web RTC, Socket.io
- Partner with a clone app development company
It would be indispensable to choose a suitable technology partner. Nowadays, most companies offer a white-label OTT solution. Rather than crafting the video streaming app from scratch, you can opt for a white-label OTT app. This will be a perfect solution for entrepreneurs who plan to start their own business within a short period of time.
Wrap up
The global OTT market size value will keep on increasing with each passing year. Therefore, choosing the best white-label OTT solution will be a great choice as you can get into the market immediately.
The challenges that surfaced were unimaginable, and yet being the survivors that we are, we’re battling them with all the wisdom, resources, and power at our disposal.
Even the traditional businesses are channelizing the digital medium to reach out to a wider audience.
Even the entertainment industry has revamped itself and is adapting to the reign of OTT platforms.While all these years, Navnish Bansal the transformation towards digital was gradual and scalable, in the last few months, the graph has escalated by leaps and bounds.
For those that are ready to adapt to the digitization of the world, the future looks promising.Digital marketing has garnered massive popularity for the dynamism and growth it promises.
The course at PGPDM has been designed to ensure that the learners aren’t just aligned with the current structure, but could foresee what lies ahead.
A team of the most experienced professionals from the industry have meticulously crafted the syllabus to ensure the best learning experience.While the PGPDM course is theoretically extensive, the beauty of digital marketing lies in taking the practical route and working on real-time projects.
