7 Tips to Launch a Profitable OTT Business from Scratch in 2021

If you’ve decided to build an OTT platform, then you’re in for success! OTT services have seen a great rise in subscribers and income through the years.

The income for 2021 alone is projected at $171 billion according to sources. And this number is said to grow over the years.

Now all you need to do is focus on how to start an OTT business that provides a great experience, quality and original content. These are some factors that will keep the money flowing with loyal customers for your service.

New to the OTT video platform? We’ve got 7 great tips to keep in mind when you build an OTT platform:

Device Compatibility

While some prefer watching videos on the mobile while they’re on the go, others opt for the big television screen, browsers and other modes. 

There is no restriction on where your customer wants to use your streaming service. So, ensure the content is displayed well on every device format. 

Your user interface, controls and display should be optimized for mobiles, browsers, TVs, gaming consoles, media players and setup boxes. Customers appreciate flexibility in choosing what device they can watch your OTT service on. 

Focus on Monetizing Right

There are many ways to monetize your video content. Especially, when you’re creating your own OTT platform, you have the flexibility to choose the type of monetization models. 

Some of the famous OTT revenue models are:

– Subscription-based model

– Pay-per-view model

– Advertisements

Top OTT platform providers offer up to six monetization models to choose from. 

Pick a monetization model based on your content and customers’ preferences. For example, OTT business with yoga streaming works well with subscriptions. Whereas a special pottery class can charge pay-per-view. If your audience is fine with seeing advertisements as a part of the experience, then your OTT services can be plugged with ads. 

Once you have the model in place, work with your team to find the best OTT streaming technology that can plug in monetization based on your needs. You can also look into a dynamic monetization that is a mix of two or more models. 

Content Management

Features like uploading, editing and organizing your high-quality video content and streaming them across devices require good asset management. Many OTT solution providers have high-performance CMS (Content Management Systems) to make this possible. 

Having data servers across the globe can also help your customer’s stream easily. With effective content management, you will be able to personalize and recommend videos to individual customers. 

Effective organization saves you a lot of time and effort in finding the right files and ensures media partners can access the content with ease. 

End-to-End OTT Integration

As a content creator, you need to focus on creating original, unique and high-quality content. This way, you can see growth in your loyal customer base. 

So, use the services of OTT platform providers who ensure you get a fully customized service ready to launch. Rather than starting from scratch, you can turn to experts who are well-versed in what they are doing to understand what your business needs and guide you. 

Today, many OTT providers can help you build an OTT service from integration of technology to security, CMS, monetization and more. They give you an edge over competitors by bringing in expertise and support to your platform.  

Convenience Comes First

The reason for OTT’s success is that it adapts to consumer’s preferences. Unlike traditional TVs where a customer had to watch shows based on the broadcasters’ schedule, OTT makes it easy to stream anywhere from any device which has the internet. 

So, with the increase in competition in the OTT industry, it is very common that every service provider wants to make the experience smoother, intuitive and compatible with new devices. 

This process is much simpler when working with OTT platform providers who optimize content, customize controls and are providing real-time analysis on what can be better. With all this, your service will find its way on the best OTT platforms list. 

DRM Security is Priority

As a video monetization platform, you will want to ensure you have good security for your app and website. This is not just to protect your content and customer database but also to ensure your revenue doesn’t take a hit because of piracy. 

A secured OTT platform builds trust amongst its customers. Digital Rights Management (DRM) ensures that your service is secure. This is done by:

–      Digital watermarking: While actual watermarks can be removed or blurred out, digital watermarking uses technology to integrate watermarks within a video. This helps you find the source of leaks. 

–      Paywall integration: Collect subscriptions and charges from your consumers directly via any paywall vendors. Many vendors allow for multiple integrations to cater to different monetization models.

–      Restrictions: You can set restrictions based on geography to allow your content to be accessed only in certain areas, countries and more. This prevents unauthorized logins to your platform and lesser chances of leaks. 

Integrate program access with API

APIs essentially ensure the smooth running of your service by integrating multiple OTT software across your business. With APIs, you don’t have to run a manual intervention to ensure requests between multiple applications are executed.

Using API to connect your content with third-party applications and other OTT services can help you customize video streaming to vendors. 

This is essentially the first step while creating your OTT platform and will reduce a lot of work. 

The best way to get your OTT service started is to connect with the best OTT solutions provider and understand how they can help. Look for features like good CMS, DRM, customization and others to make the experience good for your customers. 

With the right combination, you can focus on producing good content and leave the distribution, streaming and other technological woes to the experts. Stream high-quality content across a wide range of devices with minimal expense.