Introduction to OTT App Development Company
The acronym OTT stands for Over-the-Top. This means streaming across different devices whenever we want is possible because of “over-the-top,” a convenient little term that explains the new delivery method of film and TV content over the internet without the need for traditional broadcast, cable or satellite pay-TV providers.
OTT industry is poised for aggressive growth prospects with prospects with access to better networks, digital connectivity, and smartphones. OTT platforms in India have been increasingly attracting subscribers on a daily basis. Apart from top favorites Disney+ Hotstar, Amazon Prime Video, and Netflix, space is seeing a plethora of local and regional OTT players.
It’s been a blockbuster time for OTT platforms during the pandemic. With people cooped indoors, theatres shut, increasing Smartphone penetration and data plans getting cheaper, OTT platforms have streamed ahead.
According to the latest FICCI-EY report playing by new rules Media and Entertainment Industry trends 2020, the share of regional language consumption on OTT platforms will cross 50 per cent by 2025 easing past Hindi at 45 per cent. The share of regional consumption on OTTs stood at 30 per cent in 2019.
India’s video OTT market is expected to touch $12.5 billion by 2030 from about $1.5 billion in 2021 on the back of access to better networks, digital connectivity and Smartphone.
- The Netflix Effect
In 2007, everything changed when Netflix first went OTT, catching onto a new wave of customer demand for untethered, streamed content (it was only two years earlier that YouTube launched as well — what a time to be a video nerd!). From then on, Blockbuster (despite trying to go OTT a few different ways) was constantly wiping its face clear of Netflix’s dust as it sped past.
Netflix’s recent move to have a dedicated Twitter handle to promote South Indian content and the growing number of Hollywood films and web series that are getting dubbed in regional languages point to a battle-in-the-making to woo the regional viewer.
- 5G Network
The latest survey comes out the 5G network is expected to transform and bring in new capabilities to OTT Platform worldwide. The arrival of 5G will add more essential opportunities to it and a boom in the OTT Video App Development where technology with entertainment will lead the world.
India is expected to have more than 500 million OTT subscribers by 2023. By bridging the gap in performance between OTT streaming and broadcasting services, OTT players can ensure the provision of high-quality, low-latency, and cost-effective content to their subscribers. The ability to live-stream such lucrative content as music shows, sports, and e-gaming events, would further drive OTT adoption in India in the coming years.
- Technologies used by OTT App Development Company
Front End Developer- Swift, React Native, Objective-C!, Ionic
Back End Developers- Laravel, MySql, NodeJS, Redis, Mongo DB
Testing- App code, Appium, Espresso
IDE- Xcode, Xamarin, Android Studio
- Monetization strategy by OTT Video App Development Company
It always had been a good idea to plan out a monetization strategy ahead of time.
1. Monetizing with Pay-Per-View (TVOD)
2. Monetizing with Subscription(SVOD)
3. Monetizing with Ads (AVOD)
At the moment most OTT platforms make money with subscription or membership plans. You can go with the same option or just take our help as your OTT Video App development company.
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- Outstanding and Exceptional Factors for OTT Video app Development
WATCH LATER LIST
OTT Video App Development company introducing an important feature that will notify the visitor of the watch later list. The best way to bring more and more visitors to the house is by keeping a list of their favorite’s shows and videos. Even if their live programs are not that inspiring and attractive to the audiences, then they could spend their time watching this list.
This is an in-app purchase substitute to have a more significant company with this particular medium. The prime users appreciate the perfectness of the money transfer provided through this feature.
OPTIONS FOR SCREEN MIRRORING
There should be an option to have an exhilarating experience of video streaming from their mobile screens. There can be people who prefer to Binge-watch their favorite films and series on giant TV screens. There are various ways that the user can spend according to his budget and make his OTT video streaming app.
It is a significant factor in decreasing the traffic from the core network to increase the international low latency and transfers the available maximum data and also gives low-latency interaction.
- Steps to develop OTT Platform by OTT Video App Development Company
- Choose a niche
Offering a specific niche will help to get a better strategy in developing a platform. One needs to arrive at the proper niche for which will be providing a video streaming app. One must decide the target audience of the app like kids to watch adults or want all types of audiences to utilize OTT app development company.
- Create a Content Inventory
To develop an OTT app, the next step is to gather all the content which is the foundation of OTT. One must be built regularly and must go on increasing to keep the users glued with your OTT. For this take other decisions regarding the content in the platform like updating content, the content will be free or not, fresh and new content, and a lot more.
- Select a Business Model
It always had been a good idea to plan out a Business model ahead of time.
- Monetizing with Pay-Per-View (TVOD)
- Monetizing with Subscription (SVOD
- Monetizing with Ads (AVOD)
- Make your Website and App
The prior step which must be taken to create an OTT app is to let end users know that you are launching such an app or website. Most of the users still use a web browser to watch the video, so one needs to let users use your services through a website. It is highly important as it will help you gain fame and trust, and manage payments with ease.
- OTT – The World of Tomorrow
We all know that Netflix isn’t the only big guy out there now — Disney is sprinting out of the OTT gates with Disney+, Amazon Prime and Hulu have moved to take over TV, and even the indie-darling Sundance is making a splash out of its festival favorites and more. The world is recognizing the potential of OTT, not just for the big players like Netflix and Disney.