2022 is a period of growth for the digital media and OTT streaming business. Research shows that video streaming has already grown significantly, especially since the home order went into effect. While mobile and desktop consumption have been leading the wave, connected TVs are not far behind and have expanded their reach.
OTT video streaming platforms are the present and future of video content. If you plan to build your business around video content, OTT video streaming platforms are your safest bet. But just choosing the right service doesn’t ensure success. It is equally important to design a business with the right features. We will discuss the following essential features of an OTT video streaming platform.
The first element you need to start with is video hosting. You should be able to economically host your content and stream it seamlessly to your viewers. You have a variety of options when it comes to hosting. Some will cost more than others, but it is important that your streams are organized, available and reliable.
As a result, most OTT players need a robust solution that is affordable and effective. If you are looking for such a service, get in touch with Xmediatv. Our built-in video hosting service is the perfect solution for businesses of all sizes.
Monetize AVOD, SVOD and TVOD
Include multiple payment options (and their respective content) in your video streaming platform. There is some ad-based free content on the platform; AVOD. ad-based video-on-demand content will generate low income, but help build your identity with your audience.
Subscription Video on Demand (SVOD) and Transactional Video on Demand (TVOD) content generates better revenue. content on the SVOD paid plan will only be available to viewers who have purchased a subscription to the platform. Given that TVOD is a pay-per-view plan, any viewer can pay for specific content and access it all at once.
Videos available on your platform should be available for sharing on the Internet. Especially on social media and messaging platforms. This feature is in the best interest of your business. The sharing feature not only helps users to share content in their circles, but also indirectly promotes your business.
Your OTT video streaming platform should have a powerful AI-based engine to track the viewing history and user behavior on your platform. The engine should then be able to analyze the data and generate relevant video recommendations. Smart recommendations will bring relevant content from a huge library of videos to the attention of your users.
Multiple subtitles and video quality
Provide subtitles for all your videos in multiple languages (at least the ones that are popular with viewers). This will benefit viewers who prefer foreign language videos. These videos should also be available in different pixel qualities, giving users the flexibility to change the quality according to their viewing preferences and infrastructure.
Optimize your OTT capabilities with analytics
How do you know what works for your business and what doesn’t? For the ones that don’t work, can they be improved? Or, do you need to abandon them altogether? The best option to answer these questions is analytics. Collect data about user behavior and user activity on your video streaming platform, and use self-service tools to analyze the data collected to gain insight into what’s working for your site and what’s not.
Get in touch with Xmediatv here to learn how we can help you grow your business. And happy streaming!