On webinars, we understand that you create your own OTT platform can be a difficult task. That’s why we’ve put together this comprehensive guide to help you through the process from start to finish. With our expertise, we can help you stand in front of other websites and ensure that your OTT platform is a success.
Understand the OTT platform
OTT, or over-the-top, platforms are streaming services that deliver video content directly to viewers over the Internet, bypassing traditional cable or satellite providers. They offer viewers a way to watch their favorite movies, TV shows, and other video content anytime, anywhere. With the advent of digital media, OTT platforms have become increasingly popular with millions of viewers across the globe.
The benefits of building your own Ott platform
There are many benefits to building your own OTT platform, which includes:
More control over your content: You can curate and manage your own content, giving you full control over what your viewers see.
Increased revenue: By offering a subscription-based model, you can generate recurring revenue and create a sustainable business model.
Better viewer engagement: By building a platform tailored to your audience, you can create a better viewer experience that results in increased engagement and loyalty.
A step-by-step guide to building your own Ott platform
Determine your niche and your target audience: Before you even start building your platform, you need to determine your niche and target audience. What type of content will you offer? Who is your target audience? Understanding your audience will help you create a platform that meets their needs.
Choose the right OTT platform provider: There are a number of OTT platform providers to choose from, each with its own features and benefits. It is important to choose a provider that meets your specific requirements and budget. Some popular providers include Vimeo, Brightcove, and UScreen.
Create and curate your content: Once you’ve set up your platform, it’s time to create and curate your content. This includes acquiring the rights to movies, TV shows, and other content as well as producing its own original content.
Develop a marketing strategy: No matter how big you are platform is, it will not succeed if no one knows about it. You need to develop a marketing strategy that will reach your target audience and encourage them to sign up for your service.
Start and expand your platform: Once your platform is ready, it’s time to launch and grow your customer base. This includes creating user-friendly interfaces, offering promotions and discounts, and continuously improving the user experience.
Why create an immersive Ott platform for entertainment?
When we look at the success rates of the big players in the market like Netflix, HBO, Hotstar, or Amazon content owners, publishers are inspired. This is because many more companies are looking to create many streaming services like Netflix. Some big players are entering the competitive treatment with the likes of CBS All Access, Hulu, Fubo TV, Peacock, and Paramount Pictures. These are even taken into account by the major game streaming companies. So a complete victory for both sides.
OTT Market brings to the table
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- Total video streaming services experienced a massive 10% increase in viewership during the pandemic as homes were closed (Grandview Search, 2020)
- In the video streaming segment, the average earnings per spend to reach approximately 1,636 million dollars in 2022 (Statista, 2022)
- It is surprising to know that most of the revenue from Netflix was generated in the global regions which have 222 million subscribers (BusinessOfApps, 2022).
- Did you know that Netflix has the largest share of regional subscribers when large countries like the US and Canada are combined, reaching a total of 75 million (Comparitech, 2022)?
There is no doubt that the industry promises to take a big growth leap very soon. Therefore, building a video streaming app like Netflix will no longer be a problem, as it will be built based on what users want to watch. You will learn more about it when you read the following sections below.
Conclusion
Building your own OTT platform is one complex process, but with the right guidance, it can be a rewarding and profitable venture. By following our step-by-step guide, you can create a platform that delivers a unique and engaging visual experience to your target audience. At Webnext, we are dedicated to helping you achieve success with your OTT platform.