Over the past few years, as more and more consumers prefer to stream video on demand, content owners have realized the need to launch their own OTT platform.
The power of the OTT platform has changed the way we consume media. People prefer to consume on-demand internet content over traditional TV content. Are you a content creator, owner or aggregator?
Here is your ultimate guide on how to build your own OTT platform and monetize it like Netflix.
Step 1. Define your niche.
The first thing you need to do is decide what content your app will play for users. We've put together some ideas below to give you an idea of where to find profitable Steam sites.
Netflix and HBO show us that streaming entertainment services can be very profitable. The audience is big enough to accept a new streaming provider.
Fitness is another upcoming niche for VOD services. People want to pay for a subscription to access fitness videos whenever they want. Also, you can add different types of videos like yoga, dance training or healthy eating to increase your audience. Education Today, people are more likely to watch educational videos than read textbooks and instructions. In addition, to target a specific audience, you can choose from several supporting niches such as magic tricks, pastry or origami.
Step 2. Decide on content availability.
Since content is the backbone of your on-demand streaming service, you need to decide what your content will be.Will you be using videos from other distributors? Or do you want to create your own video content?
If you want to work with video distributors, you need to get a public performance license. There are two ways to deal with that:Renting a movie from the authorised distributor with a licenceContacting the copyright holder.
Both options are legit, and the choice depends on your business goals. If you choose the first option, you might contact one of two leading authorised distributors of movies and TV series in the USA:
As for the second option, you need to get in touch with the studio that is the rightful holder of specific content.
Step 3. Choose a monetization model.
In your proposed video post service, you can choose one of three ways to monetize your video:Pay-per-view is the most basic plan, meaning the user pays for each video they watch. If you want to create a platform to broadcast concerts, exhibitions, conferences or sports events such as boxing and MMA, you can use this model.
You can pay other companies to run video ads on your platform. However, this monetization strategy only works if your platform is popular among users.
As you may recall, Netflix uses exactly this monetization strategy. In addition, the subscription model is used by a third of professional broadcasters. Subscribers pay a monthly fee for access to the content library. If you regularly publish new content on your platform, you can use this monetization technique.
Here’s the 7 vital steps to develop a netflix like OTT app:
1. Always choose the main genre of the business stream
When building your OTT application platform to display content, video on demand, events or movies, choose the right category according to consumers.
2. Use consistency to target your audience
With intelligent content delivery, you can make your audio or video content compatible and suitable for playback on all platforms and devices.
3. Create a resource strategy based on services
Build your OTT platform based on the content you want to share with your audience. Ensure proper resource planning to ensure the best monitoring experience for your customers.
4. Focus on the best view
Focus on creating original content and providing an engaging viewing experience. There are many OTT providers now.
5. Measure your user behavior
With a wider and more engaged target audience, it is necessary to present and create different content tailored to the audience. Get a feel for specific demographics with analytics tools like real-time traffic updates, current audience status, user behavior analysis, revenue reports, and more.
6. Increase your ROI with the right monetization business models
OTT video services include live streaming and video on demand. Choose a monetization model that suits your business needs and it will help you earn faster by attracting more visitors through advertising. As an OTT streaming provider, you see many opportunities for profitable revenue in large segments.
7. Choose between branded websites and OTT apps
A good OTT platform should offer templates that are suitable for websites and apps.
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