OTT Video Streaming App Development: Essential Factors To Consider

After you’re done with your work today, you’re probably looking forward to catching up with your favourite television series or a movie at night. Or, you like to rewatch some of your favourite episodes while you have your lunch.

Right now, you might be working on your laptop and one of the tabs on your browser is streaming music from a platform. Maybe this sounds cliche but OTT or Over The Top services have become an integral part of our lives. They have helped us survive a pandemic and it’s probably one of the few industries that grew exponentially during a global viral outbreak.

Today, our plans revolve around OTT services and because of the increasing demand, there is always a requirement for content — a variety of it. People are looking to watch, listen and experience new shows, documentaries, audio dramas and more and escape to alternate realities for a brief period of time. Despite the fact that the OTT market is quite cluttered, there is still space for some quality content out there.

If you’re someone who is eyeing on capitalizing on this demand and launching your own OTT service, this extensive write-up on OTT app development is just for you.

In this post, we explore what OTT services are, some crucial features you need to incorporate, factors you should consider during OTT platform development, expenses involved and more.

Let’s get started.

What Is An OTT Service?

Let’s quickly start from the basics to better understand the concept. In simple terms, an OTT service is anything that disrupts convention in terms of service delivery. It is the incorporation of technology into traditional tasks to help consumers execute them more efficiently and swiftly.

For instance, stepping out to purchase groceries or even apparel is no longer required as OTT services are available to deliver them to your doorstep. Whatever you wish for or need arrives at you on demand.

Types Of OTT Platforms

OTT is an all-encompassing term. It’s not restricted to video streaming services alone. As we mentioned, any platform or concept that offers you on-demand services is an OTT platform. There are diverse varieties of OTT platforms today. To give you a better idea, here’s a quick list:

● OTT Devices — Gaming consoles like Playstation and Xbox, Apple TV and more

● OTT Messengers — Skype, Zoom, WhatsApp, Google Meet and more

● OTT Audio — Spotify, Amazon Music, Tidal and more

● OTT Video — Netflix, Hulu, Amazon Prime and more

● OTT Transportation — Uber, Swyft and more

In this write-up, we will exclusively focus on OTT video streaming app development.

Is It Worth Developing An OTT Platform?

There is a huge demand for the content currently and going forward, this would be a norm. With theatres getting shut down because of the pandemic, consumer behaviour is dynamically changing. People are starting to get the taste of watching movies from their homes. They are also going a step ahead and investing in quality audio and video mediums for more immersive home-viewing experiences. To give you a quick idea of whether OTT platforms are worth the investment, here are some key statistics.

● In 2019, the market value of the OTT platform was around $121.61bn. It is expected to be valued at around $1.39tn by the end of 2027.

● In the fourth quarter of 2020 alone, close to 239bn hours were spent on video streaming services on smartphones.

● 65% of the viewership of OTT video platforms comes from smartphones and TV apps.

● Netflix is a global leader in the OTT video streaming sector.

● YouTube ranks first in the list of video streaming platforms by the amount of time spent. Average users spend close to 38 hours a month on YouTube.

The numbers clearly point out the fact that this is an ideal time to invest in OTT app development and carve a space for your business in the market.

Are OTT And VOD The Same?

OTT and VOD are often misunderstood concepts. Consumers often use the terms interchangeably. In reality, there is a stark difference between the two. Let’s look at what they are.

Essential Features Of An OTT Platform

OTT platforms are popular because of their features and services. The fundamentals of OTT services have become so ingrained in our minds that we automatically look for some basic functionalities and features when we sign up for a new video streaming service. So, when you’re getting started with OTT app development, ensure you incorporate these features.

1. OTT platforms are known for their simple and easy to use interface. They don’t look cluttered or jarring despite the number of icons of shows and movies they display on their home screen. Make your interface smooth and simple.
2. Consumers are impulsive when it comes to deciding what they want to watch. In that case, your platform should have a powerful search engine that immediately pulls accurate results. Ensure you accommodate spelling errors as well.
3. Recommendation engines are what set OTT platforms apart. Netflix probably knows more about your taste in movies and cinema than you do about yourself. When you finish watching a cerebral movie, it will automatically show you other movies in the same genre that will 99% match your preferences.
4. Analytics should also be part of your fundamental features list. With analytics, you could assess what your users watch, how much time they spend on your platform, how you could optimize your services, the diversity you can bring in with respect to your content library and more.
5. Voice search is also becoming increasingly important as more people use voice assistants to play their preferred programs and movies without even reaching for their television remote.

Essential Factors To Consider While Developing An OTT Platform

Decide On Your Niche

Remember we told you the OTT video streaming market is cluttered? To make profits and have a loyal consumer base of your own, the first thing you need to do is decide on your niche. OTT video streaming is too generic a term. You need to assess and refine your idea of what you actually intend to stream on your platform.

● Do you want your OTT platform exclusively for kids?

● Is it going to be a dedicated service to stream acclaimed documentaries?

● Do you want to have an exclusive service for old classics like Cinema Paradiso?

Create Content Inventory

The success of your OTT platform depends on your content inventory. One of the major reasons why Netflix is so popular is because it has one of the largest libraries of television shows and movies. You should work on creating your own content inventory.

This is where deciding on the niche comes into play. When you decide the genre or market segment you are going to focus on, you can choose appropriate content and add it to your library. For instance, if you’re focusing only on regional cinema, you could look at partnering with regional studios and production companies to get streaming rights. The more diverse your library is, the higher the retention. Also, you should consistently work on updating your library for sustained viewership.

Decide Your Business Model

You are in this for profits and for that, you need a solid business model. This defines how you are going to charge your customers and keep your cash register ringing. For starters, subscription-based streaming is an ideal choice. Your customers pay a monthly, quarterly or yearly subscription to watch content on your platform.

Alternatively, you can also offer content on demand and charge for individual viewership. For instance, YouTube movies offer movies for a price that can be viewed any number of times within 48 hours of purchase.

Choose a business model that falls in line with your niche, audience demographics and purchasing power.

Define Your Tech Stack

This is crucial. Having the right tech stack at your disposal ensures your platform is stable at any given point in time. One of the major turn-offs for customers is watching content that buffers or lags frequently, has audio and video sync issues, pixelated video, lack of HD options and more.

Your tech stack should address all these concerns and ensure your viewers have a seamless and uninterrupted streaming session.

Build A Platform

Once you decide on the tech stack you intend to deploy such as the programming language, cloud solutions, libraries, frameworks, databases and more, it’s time to start the OTT app development process. Build a website and an app as traffic can come from any medium.

Also, get specific versions of the app developed for televisions, gaming consoles, car entertainment solutions and more. The ability to access an OTT platform from anywhere and any device is the strength of this concept and you have to ensure you deliver that to your customers.

How Much Does It Cost To Develop An OTT Platform?

It’s tough to put a price tag on the app development process. It depends on tons of factors such as tech stack, features and functionalities you intend to incorporate into your platform, the region you eye on operating in, the app development company you collaborate with, their reputation, your time to market and more.

So, the most ideal solution would be to get in touch with a reliable company to discuss your ideas and get a customized quote.

Wrapping Up

So, this was an extensive guide on OTT platform development. This is a very exciting market segment to venture into. If you’ve been a cinema connoisseur, this is a space you can shine. We believe this write up offers you all the insights you need to know about video streaming app development.

Consider these factors, think about them and make a wise decision today.