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9 Steps for Building Your Own OTT Platform
Revolutionizing OTT Platform Development with Third Rock Techkno
Emerging as the top choice for contemporary viewers, OTT platforms have revolutionized how we consume media and entertainment. With the decline of the traditional television model, digital technology has paved the way, enabling users to access an extensive array of content over the Internet. This includes movies, TV shows, sports, and documentaries, all without a cable or satellite subscription.
Happily involved with all generations, the 21st century is a time of innovation and newness. It has birthed a media culture never imagined in its early beginnings or even in the 90s. India's debut OTT platform, BIGFlix, emerged in 2008, while the now widely known American OTT platform, Netflix, had already taken flight.
In 2023, OTT platforms are blooming like the craziest thing worldwide. Well, not to ignore the COVID-19 pandemic contributed considerably to spreading it like fire in a forest. It would be interesting to know what relates to this OTT platform and the concept of starting one of your own.
If you're looking to build your own OTT platform, you're in the right place. This article delves into the key steps in creating your OTT platform, targeting owners and enthusiasts wishing to embark on this exciting journey.
The Hype About OTT Platforms
OTT platforms deliver all the films and TV content over the Internet without local cables or satellite TV services. In plain language, instead of paying for TV cables and being stuck in one place to watch the content, people now have to pay for the Internet to manage their choice of things from anywhere. You see, the catch about OTT is the accessibility of its content, which becomes one of the many reasons for its popularity as its customers only require an internet connection, a monthly/yearly subscription, and a compatible hardware device to stream OTT, namely – Mobile OTT Devices (iOS and Android), Personal Computers/Laptops, Smart TVs.
Before diving into the development process, look at some impressive statistics and related news highlighting OTT platforms' soaring popularity, particularly among millennials and Gen Zs.
- According to recent surveys, over 70% of internet users worldwide engage with OTT content regularly.
- This trend is expected to grow further, with the global OTT market projected to reach a valuation of over $450 billion by the end of the decade.
Not only has OTT streaming changed how we get television, but it has also changed how we watch it. There are various types of OTT platforms available out there that give the option to every person to choose according to one's own choice.
The increasing popularity of OTT platforms can be attributed to their convenience, diverse content libraries, and personalized viewing experiences. To guide you through this exciting journey, we present nine key steps to help you transform your OTT vision into reality.
9 Steps for Building Your Own OTT Platform
"Necessity is the mother of invention"- Plato
As OTT services gained so much popularity and profitability, especially with younger audiences, competition and the need to invest in OTT app development has spurred a wide range of competition.
This article delves into the key steps in creating your OTT platform, targeting owners and enthusiasts wishing to embark on this exciting journey.
1. Conceptualize and Plan the Business
The first and most crucial step in creating an OTT platform is conceptualizing and planning the business model. It is important to prepare a business model to clarify the development process. To prepare an effective business plan:
- Determine your platform's target audience, content niche, and unique selling points.
- Conduct market research to identify competitors, analyze consumer preferences, and understand industry trends.
- Define your monetization strategy, whether through subscription-based models, advertising, or a combination of both.
2. Acquire and License Content
Content is the heart and soul of any successful OTT platform. As the OTT platform is responsible for promoting specific messages through its content streaming, obtaining a license from the concerned authority is essential.
Acquire rights and licenses for a diverse and engaging content library that aligns with your target audience's interests. Secure partnerships with content creators, production studios, and distributors to ensure a steady flow of fresh and exclusive content.
3. Design and Enhance User Experience
The main goal of the OTT platform is user entertainment, which goes hand-in-hand with an easy and intuitive platform UX. User experience (UX) plays a pivotal role in retaining and engaging viewers. Invest in a user-friendly interface, seamless navigation, and intuitive features that enhance content discoverability. Implement personalized recommendations and user profiles to cater to individual preferences, fostering a sense of belonging among your audience.
4. Develop and Configure Technical Infrastructure
The foremost requirement before development is creating and finalizing the app architecture. A robust technical infrastructure is essential to ensure smooth content delivery and a glitch-free viewing experience. Choose a reliable Content Delivery Network (CDN) to optimize content distribution and reduce buffering issues. Invest in high-quality video transcoding and adaptive streaming technologies to accommodate varying network conditions and device capabilities.
If you do not have an in-house team, the best decision will be to outsource the development procedure to avoid hassle. Outsourcing the development will ease the team's workload, and they can focus more on strategizing the best marketing plans for the platform.
5. Deliver and Encode Content
Once your platform is ready, focus on delivering content efficiently to users across the globe. Content encoding is critical to ensuring that videos are compatible with different devices and bandwidths. Implement adaptive bitrate streaming to adjust video quality based on users' internet connection, guaranteeing uninterrupted playback.
6. Monetize and Generate Revenue
Monetization is a vital aspect of OTT platform sustainability. Implement various revenue streams, such as subscription plans, pay-per-view, or advertising. Strike a balance between revenue generation and user experience to avoid driving away potential subscribers with excessive ads.
7. Do Not Forget to Test and Ensure Quality
Thoroughly test your OTT platform before launch to identify and rectify any bugs or technical issues. Perform load testing to assess your platform's performance under heavy user traffic. User feedback and beta testing are invaluable in refining the platform and making it more appealing to the target audience.
8. Launch and Market the Platform
A well-planned launch is crucial for gaining early traction and attracting a substantial user base. Implement a strategic marketing campaign across various channels, including social media, influencers, and industry partnerships. Leverage the power of content marketing to showcase your platform's unique offerings and engage potential subscribers.
9. Maintain and Continuously Update It
The journey continues after the platform's launch. The first step is monitoring user behavior and preferences thoroughly. Gather data about user interaction using the analytics tools. Analyze viewing patterns, popular content, user feedback, and engagement metrics to understand what resonates with your audience. By understanding your users better, you can make data-driven decisions for platform improvements, enhancing the overall user experience.
Keep your audience engaged and entertained by regularly updating your content offerings—secure licensing deals to bring in fresh releases from popular studios and production houses. Additionally, consider investing in original content production or exclusive partnerships with content creators to offer unique and compelling shows and movies that can't be found elsewhere.
Revolutionizing OTT Platform Development with Third Rock Techkno
Third Rock Techkno is a leading and well-known OTT development company with unparalleled expertise and support throughout development. We have a proven record of successfully developing various apps from the entertainment niche, including OTT app development.
Here's how Third Rock Techkno optimizes the creation of a robust and successful OTT platform:
1. Resource Management Optimization
Third Rock Techkno team ensures efficient utilization of resources, optimizing costs and maximizing output for your OTT platform.
2. Enable Scalable Flexibility
User demand cannot be constant; it keeps changing depending on their interests. Hence it is vital to ensure scalable flexibility while developing the OTT app. With Third Rock Techkno, your platform will be equipped to handle sudden spikes in user demand without compromising performance.
3. Skilled Development Team
With the experience of over 12+ years in the industry, we provide access to a highly qualified and experienced development team that understands the intricacies of OTT platform development.
4. Continuous Support
Ensures that the client is looped in the whole development process to understand each development step clearly. While developing an OTT app, they will offer technical support throughout the development, ensuring your platform remains up-to-date and competitive in the ever-evolving OTT landscape.
5. Load Balancing
Implements load balancing strategies to distribute user traffic evenly, ensuring smooth and uninterrupted content delivery for optimal performance.
6. Real-time Task Monitoring
Gain valuable insights into your platform's performance through real-time task monitoring and analytics.
In conclusion, developing your OTT platform requires meticulous planning, technological expertise, and a keen understanding of audience preferences. By following the essential steps outlined in this article and partnering with a reliable OTT development agency like Third Rock Techkno, you can create a cutting-edge platform that captivates your target audience and stays ahead in the competitive digital landscape.
FAQs
Q1: How can I ensure scalability and flexibility during development?
Scalability and flexibility are ensured through robust technical infrastructure, adaptive streaming technologies, and resource optimization. With Third Rock Techkno's expertise, your platform will be equipped to handle growing user demand effortlessly.
Q2: Are there any specific considerations for real-time task monitoring in OTT platform development?
Real-time task monitoring is crucial to identify performance bottlenecks and make data-driven improvements. Consider the following points for real-time task monitoring in OTT platform development:
- Understand the technical requirements of each development process.
- Micro testing after each development milestone to identify bugs and loopholes.
- Check the video, audio, and buffering to avoid future iterations.
- Monitor each part of the streaming pipeline to identify and resolve issues quickly.
Q3: What are some common challenges to be aware of when developing an OTT platform?
OTT app includes multiple content partners and a wider audience base; hence managing the OTT app platform is quite challenging. Some common challenges include content licensing complexities, user retention, technical glitches, and monetization strategies. However, a streamlined development process can efficiently manage all the challenges.
Q4: Does prior programming knowledge be necessary to develop an OTT platform?
While basic programming knowledge is advantageous, partnering with an experienced OTT development agency like Third Rock Techkno can handle all technical aspects, allowing you to focus on the business and content aspects.
Q5: Are there any legal or licensing considerations to consider while developing an OTT platform?
As the OTT platform streams content for a wider audience, acquiring copyrighted content licenses and adhering to legal requirements is important. The development partner must ensure compliance with licensing agreements and assists in navigating legal aspects.