Being a Top OTT App Development company, Osiz offers video streaming app development services with top-notch solutions at a reasonable cost and launch your own live video streaming app instantly.
In the current scenario, the OnDemand economy is revolutionizing the traditional business. Peoples are staying at their homes due to the Covid19 pandemic, people need refreshing entertainment to come out from the stress. Nearly more than 500 scripts have been released on OTT in this year. Starting an OnDemand OTT video app would be an amazing idea to start a trendy business in this situation. Let us discuss the OTT APP,
What is OTT App?
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.
Why should you start an OTT App?
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.
Significant Features of our OTT App:
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 can 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
OTT App Revenue Patterns: Let us discuss the Basic OTT video streaming monetization business models, that are currently followed by top OTT Apps like Netflix, and Amazon Prime.
Subscription Video On-demand (SVOD):
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 (TVOD):
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.
Advertising Based Video On-demand (AVOD):
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.
Top Popular OTT Platforms:
Netflix Amazon's Prime Video Hulu Hotstar Jio Cinema
If you have an idea of starting an OTT video streaming app like the popular platform listed above? Go to Best OTT video App Development Company.