In the current scenario, all the business and people's movements have been constrained due to the pandemic. People are stayed at their homes and need refreshing entertainment at their homes. Here comes the need for OTT platforms, as it can deliver the user desired videos to their devices. OTT is acting as a medium to release the scripts and web series over the online. Let us briefly discuss the OTT App here.
OTT App is a Platform delivering the user demanding media to the user on their device over the internet. OTT Platform is a streaming video to the user device as per the user's demands. OTT platform delivers the various types of media to the users. It can be of streaming video content, audio content, audio-calls, and messages.
In the current scenario, the pandemic has created havoc over all sorts of business due to pandemic threats and lockdown. Whereas the OTT platform gets embellished and filled the gap by delivering entertaining web series to the users without barrier.
According to the survey, it states that the OTT service has been growing tremendously like $ 6.1 billion in 2010, $ 104.11 billion in 2019 to $161.37 billion in 2020. It is expected to reach $169.4 billion in 2023. This survey provides the exact growth of the OTT platforms and how it is going to evolve the future market.
You may have a question that "Why huge demand for OTT platforms now?", The reason behind this is the performance and integrity of the OTT platforms.
OTT video streaming services are available at a reasonable cost than the traditional packages. The user cannot watch the content as they desire instead they have to watch the content telecasted on the media. here no more restrictions like timings.
The user can watch quality content with a lively experience on the OTT platforms. The OTT platforms deliver contents in 4k resolution, typically 3,840x 2,160 pixels, and is also known as UHD or Ultra-High Definition. This is the largest level of HD video quality possible to film, television, and sports viewers these days. OTT providers like Netflix, Disney Plus, and Amazon Prime are providing 4k services.
OTT platforms are device-independent, users can view the content through various devices like smartphones, tablets to Apple TVs, Smart TVs, Chromecast, Xbox, Amazon Firesticks, and much more. Whereas in traditional cable we can view the video only through the TV.
Multi-language content is economical and easy to handle irrespective of the language. It allows grabbing users from various geolocation and irrespective of the language. Multi-lingual content is available in the popular Netflix, and it grabs the millions of users.
An advanced search option is very essential for the OTT streaming platform. Users should feel the ease of access on the platform while navigating, it should provide a drop-down box on the menus to choose among the available videos.
Every OTT platforms provide User profile options, users can manage the login credentials, passwords, details, and payment options. User can add their desired videos by selecting genres, directors, actors, shows, movies, etc.
Watchlist features enable users to create a menu of items they want to watch later. Users are able to save their favorite videos on Watch later list, it can be displayed on the home screen as reminders. On the OTT platform, the user will be able to intend a personal watchlist for each account profile.
The Push notification is a very important feature in the OTT platform to provide reminders about their subscription plan, it also helps to market the new premium videos, packages available on the app.
This is quite useful features to create brand awareness among the huge audience through social sharing by the users. The users can share the liked videos to the desired group of audience on social media like Facebook, Instagram, and Twitter, etc
Let us discuss the Basic OTT video streaming monetization business models, that are currently followed by top OTT Apps like Netflix, and Amazon Prime.
SVOD or Subscription Video-On-Demand is likely cable packages that deliver content to the users as a monthly subscription. The advantage of this type of subscription where users can drop out of the scheme at any point time and this is not a long time scheme. This allows users to relay on the OTT platform and it helps the OTT providers to give flexible service to their customers.
Transactional Video-On-Demand Unlike SVOD, where the user has to on a pay per view scheme. It is of two types, Download to rent (DTR) it allows users to access particular content in a fixed period at minimum cost and Electronic Sell-through (EST) allows user to access a particular content limitlessly once they paid for it. Users can make use of the schemes as per their choice without any barriers.
AVOD is free of cost, it is like utilizing videos on YouTube and DailyMotion where ad revenues are used for handling the productions and hosting cost. While associating with the Advertising video-on-demand type, SVOD and TVOD produced higher yields.
If you have an idea of starting an OTT video streaming app like the popular platform listed above? Cool right!!! We will provide you the best OTT video streaming clone app for the popular OTT platforms.
Osiz Technologies, a leading OTT app development company provides end-to-end custom OTT Platform right from Plan, design, development, testing, launch, and support as per your precise business demands.
If you wanna start your own OTT video streaming app, then it's a great idea at right time and the right place. Despite this, the OTT app development process requires a lot of work endurance and only professional OTT app developers like Osiz can handle.