Ever wondered why OTT platforms like Netflix witness growing popularity every passing day? Netflix witnesses growing popularity every passing day?
Well, as per a January 2021 report, there are around 2.28 billion OTT video users worldwide. No wonder Netflix is garnering so much engagement globally.
It leverages a subscription-based business model which allows the brand to scale up smoothly. Do you want to create an app like Netflix? Fret not! We can help.
In this article, we shall discuss the best steps involving OTT app development. Stay with us and read on!
We shall discuss the three most important aspects of building an efficient OTT platform.
Let’s have a detailed look at them one by one.
1. Content availability
Now, when you create an OTT app, it is important to choose the type of content you wish to provide to your audience. You can either create your own content or leverage videos from distributors. You would be required to get a license in case you choose to connect with video distributors.
- Remember to contact the copyright holder.
- Make sure to rent the videos from an authorized distributor along with a license.
2. Monetization model options
There’s no are three types of monetization models available for OTT apps. Let’s have a look at them one by one.
- Pay-per-view
It is considered the simplest pricing model. In this, the user pays for every video he or she watches. This way, the clients are saved from making one-time payments and can easily switch between different options available on your OTT streaming app.
- Advertisement
This is one of the best ways to earn money via an OTT platform. You can charge businesses for running ads on your platform. But your platform needs to be popular among users to utilize this monetization strategy.
- Subscriptions
When it comes to Netflix, it uses the subscription monetization model. In this model, you can charge your audience a monthly or yearly subscription fee to access your content library. If you regularly release new content, this model can work wonders for you.
3. OTT app development requirements
Wondering how to build an app like Netflix? Don’t worry. In this section, we are going to talk about the best features that make an efficient OTT app.
- Cloud hosting
Make sure to create a cloud hosting platform if you want to run your video content effectively. This is because a cloud hosting platform allows quick and seamless access to video content and is super flexible. It is also cheaper than hard drives.
- High bandwidth
Utilize the combination of reliable CDN with video streaming to ensure high bandwidth. Also, it reduces the possibility of lagging.
- Strong network connectivity
Well-performing OTT apps leverage Content Delivery Network. When you apply CDN, it allows you to establish stable connectivity, provides your users with a shorter request time, and prevents server overloading.
- Multiple device accessibility
Some of the best OTT apps like Netflix deliver content across different devices such mobiles, desktops, laptops, and others. This factor leads to increased customer satisfaction as clients can access your content on their favorite devices. Multiple device accessibility of your OTT app tends to increase your app’s fan base.
- Security
You need to make sure that your content is protected from unauthorized access. If you want an OTT streaming app that stays secure, you need to keep the following in mind:
- Have a network background that provides 24*7 monitoring and content availability in the case of server failure.
- You can also consider token security that blocks videos from a third-party source without your approval. There are many other ways to protect your security like watermarking, domain restrictions, geographical restrictions, and others.
4. Payment gateways
You need to make sure that your OTT platform guides your audience through a smooth purchase process. Make sure to provide multiple online payment options to them like net banking, credit/debit card, UPI payment, and more.
How to create your own streaming service like Netflix?
Planning your OTT platform development? Don’t worry! We can help you.
- First, you need to identify your niche, what you specialize in, and what exactly you want to sell to your audience. You need to conduct market research and identify your customers’ pain points.
- Offer your unique USP. Maybe, you can come up with certain unique additional and customized features.
- As discussed earlier, decide on a good monetization model and choose the availability of content.
- Make sure to leverage effective frontend and backend technologies.
Conclusion
We hope our article helped you comprehend the important steps revolving around OTT app development. Make sure to add the advanced features discussed above. You can choose an efficient OTT solution to do the same. We wish you good luck with your plan to build an OTT platform.
