With OTT services, users just have to plug-in a device, download an OTT software or app and that is it. If you have ever lost a few hours or even days on your favorite series on Prime, Netflix, or Hulu, you have already had your rendezvous with the concept.
Why Do Customers Prefer OTT Over Traditional Platforms?
It is not surprising to see the OTT range, especially the weekly OTT application range, has grown up to 20 hours. Why is that? Here are the top three reasons why OTT is appealing to its viewers:
- Accessibility– With OTT services, the audience is accustomed to watching what it wants and how it wants, irrespective of the location.
- Control- The audience is willing to pay more to have a distinctive control over programs. Which is why, over 50% of the users have multiple subscriptions to OTT services to customize their content.
- Cost- Studies suggest that a major chunk of viewers believes that the cost of paying for television and cables is relatively higher with less accessibility and control.
What Types of OTT Services Are Presently Active in the Market?
The OTT market growth that is presently being charted, especially since the massive Netflix revolution which is continuously evolving. However, OTT app development is just not restricted to video streaming services, here are the current OTT development alternatives available in the market:
- Video
- Audio
- VOIP
- Messaging
As we know, among these four types of OTT services, the one that has surfaced on the forefront the most is the Video OTT segment. The reasoning behind placing a special focus on OTT streaming platforms is a little partial – we are very intrigued by its market size.
Features you must Need in OTT Software and App Development
1. Multilingual content
For you to reach a wider demographic and expand business beyond the geographical borders your core user base are housed in, it is of prime importance that you add more languages’ video content besides English.
2. Watchlist
The next must-have part of OTT video streaming application would be the Watchlist functionality. This is the part where the users would add things that they wish to watch later.
3. Search
An Explore or Search option is a must have in OTT streaming platforms. The option should be designed in a way that it is visible for all age groups. Also, try to have as many genre options in the search drop-down menu as possible.
4. User profile
This one feature is a no-brainer. Your application must come with a user profile option which gives them the option to manage their side of the application – the content they want to watch, the preferred payment option and suggestions based on their viewing history.
5. Social features
If you ask any sound OTT app development company, they will tell you how social features are a pivotal part of the whole OTT experience. They are what makes an application shareable and helps in achieving a daily active user target.
6. Screen mirroring
According to experts, in order to increase the user engagement count, it would be beneficial if your users are able to access the application on screens other than their mobile apps, like their TV or Desktop, etc.
7. In-app purchases
The last pivotal not-to-miss feature is OTT in-app purchases. Integrating payment gateways and several app money making strategies is the most essential feature to include in your OTT app development process.
8. Payment Integration
Integration with a payment gateway is one of the critical factors for OTT platform development. It comprises the final step taken by the user when he makes a decision on buying a premium plan or subscribing your content within the OTT platform.
How Much Does OTT Platform Development Cost?
The estimation of OTT video app development like Netflix or Hulu cost comes down to a number of factors. And it rough ball-park estimate of the OTT app development cost will come down to a range between $150,000- $300,000.
- OTT platform development in India would cost you between $25,000 and $60,000 for Netflix and Prime Video Like Apps and in the US around $35,000-$80,000.
- The Cost to make an OTT platform like Hot Star would be around $35000 – $50,000
- If your platform consists of hybrid features (Youtube + OTT) the costing would be approx $50,000-$70,000
- A full fledged OTT platform development may also take 9-15 months to complete
Leverage our OTT video app development solutions to manage, distribute, and monetize your OTT content worldwide.
