OTT apps represent more than just apps that instead of following the traditional way of delivering services, use the fastest internet to provide a simple button. You can think of the OTT app as anything that interferes with traditional ways of providing services. For example, earlier if you want to buy a stock market share, you will need to be physically present in the area to announce the numbers on your behalf. However, today, the whole process can be easily managed online with the help of stock trading apps like Robinhood. So, here we can call Robinhood an OTT app that has disrupted the traditional way of buying and selling stocks. Moreover, examples of such apps include Uber, Netflix, Airbnb, Skype, and many more.
Among the three types of OTT services, the one seen in the front row is Video OTT apps. And it is also an important part of our article today because of the great opportunities and success this section offers to entrepreneurs around the world.
The number of major players in the global OTT streaming market is steadily rising. These major market players include global giants, such as Amazon and Netflix, and platforms such as TVF Play. After that, the global market for Over the Top (OTT) applications is becoming more and more competitive due to the huge opportunity it offers to emerging entrepreneurs. Moreover, the trend will not end anytime soon given the popularity of apps like Netflix and Hulu among millennials. When we talk about the strategies and performance models of giants that are important to the industry, they are unique and well-designed. Each player has their own rules and strategies to stay competitive in the market. For example, the largest player in the market, Amazon’s growth in the OTT industry is driven by two things – the successful launch of its Fire TV, and the launch of its independent video streaming service – Amazon Prime.
On the other hand, the biggest success of Netflix lies in the continuous improvement of delivering unique and high-quality content with amazing UX. Also, every player available has their own USP to sell its administrations and its incredible and connecting with versatile applications. Thus, if you need to get a decent portion of this market – before you dispatch the OTT video application, you ought to consider what will be your USP that will draw in clients to your application leaving these domineering jerks under control. Just if you succeed – can you make it big in the OTT video application market.
Creating Your OTT Video Application
Video application development
To overcome a crowded market space, a specific niche is key.
The OTT video streaming app is a common concept, and you should first decide which niche you will follow when entering this field. What kind of movies or TV shows is your mobile app or website planning to broadcast? You can create your Netflix-like app that will help everyone you can use, but the unique details of your service can become your climax.
Build Your Content Inventory
The heart of the OTT video applies in its content. When you plan to find out how to make a video streaming app like Netflix, you should first find out what your content will be. Since content is the real core of the OTT video app – you can’t ignore creating a list of content to stream after its launch. Also, remember that the content should be amazing.
Your Business Model
OTT services, making use of three different types of business models: subscription-based, advertising, and transaction-based advertising. To make your app idea, you will have to picture the business model. The following business models have their advantages and disadvantages.
SVOD (subscription video on demand): a Video-on-Demand subscription model in which users are given access to video content, and to pay an amount each month or for a year in the mobile app. This model takes the user to be addicted to it and it equips app owners with a wealth of opportunities to earn money and increase the income by way of interesting content.
AVOD (advertising-based video on demand): is A video-on-demand advertising model, which provides content for free streaming. He will receive anything from the users, and the content free of charge. The main catch is that this forces the user to view ads, and app owners charge advertisers a fee for the generation of revenue.
TVOD (transactional video on demand): With this business model, customers pay for access to certain content, with the use of the pay-per-view model. This model is often compared with SVOD and AVOD.
Now, you need to have a clear understanding of how each of these business models works to give them a try. So, to continue with your business idea and model, choose the one that best suits your needs.
Create Your Site
Web browsers continue to be the main hub for streaming, and many users would like to look at content with the help of a web browser. This allows you to:
- Have a high ranking in the search engines.
- Accept payments easily.
- Easy to handle requests.
In short, a website serves as a shortcut for the user, even if you do not have access to the mobile OTT app. So, the first thing to think about is the creation of a website, and then you can start with the creation of mobile apps.
Decide the Tech Stack
After completing the analysis of all the economic aspects of creating OTT apps, it is especially important to make a well-informed decision about the set of tools and techniques that you can use to develop your OTT video in the app. There are many technologies and tools that you can use for building your own OTT apps, and the final decision will depend on the specific needs and desires of the app. So, before you decide on the technology, we recommend that you talk with the creators of the OTT app to get it. In addition, many companies rely on external APIs and services, to speed up the design process and the MVP-version of the final application and test it in the market. However, several other APIs are also available for an additional fee. Therefore, you must analyze everything to make sure that you will not pay more, and you will get what you need at a reasonable price.
This is an example of a tech stack for OTT apps like Netflix:
Languages: Kotlin, Swift.
Libraries and frameworks: NodeJS, Win.JS
Databases: Amazon EC2, MySQL, Cassandra
Sunvera Software develops next-level software applications from start-to-finish. Schedule a free 30-minute call with us to discuss your business, or you can give us a call at (949) 284-6300.