From being a niche streaming option to becoming the most popular way to watch TV, OTT has changed the face of media consumption. By 2027, over-the-top (OTT) media revenue is projected to surpass 224 billion dollars, doubling the amount that was reported in 2021. With stats like this, it is evident that the traditional TV industry will gradually be disrupted by OTT services. However, what remains a mystery is how to create a cutting-edge OTT platform with features that would give people the best experience possible across all devices. In this blog, we have attempted to list the essential OTT features of developing such a platform to make it more successful.
What is an OTT Platform?
OTT stands for Over-The-Top platform, which is used for the distribution of film and television content over the internet, without the use of typical cable or satellite pay- television services.
If you’ve binge-watched your favorite Netflix series or an Amazon Prime movie on the weekends, it means you are already familiar with OTT.
13 Must-Have Features in the OTT Streaming Platform
Now, let’s take a look at the 13 essential OTT platform features required for a smooth operating and successful OTT video platform.
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Complete Customization
If you wish to build your content distribution channel, an OTT platform that can be completely customized is a blessing. Customizable OTT solution provides users with an established, reliable architecture that they can later expand upon to completely own it.
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Geo-targeting
The language and geographical location of the content are crucial for an OTT video solution. This also extends beyond the language to include the genre, theme, production style, and other factors. For attracting a worldwide audience, the well-known OTT platforms offer multilingual content.
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Video Hosting
The video content that an OTT platform provides is its main strength. Because of this, any proficient IPTV system will make video hosting available and simple to use.
Local hosting is an option. Similar to that, you can allow streaming by using your server or the cloud.
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Centralized CMS
OTT platform providers may store, manage, and distribute their multimedia content more effectively by using video content management systems. It allows a large amount of video content and enables speedy, user-friendly distribution without causing system outages.
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Smart Recommendation
“The smart use of data is the secret to a successful OTT platform”
Your OTT video streaming service should include a potent AI-based tracking engine that can monitor user activity. The engine should then be able to examine the data and produce suggestions for pertinent videos. Smart recommendations will help your visitors discover appropriate video content from a big library.
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Multi-Device Platform
To have a broad reach and cover all audience segments, it would be wise to include multi-device support while creating your OTT platform. This also means that you need to optimize videos per internet connections, screen resolutions, and other factors.
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Multi-User Accounts
Allow multiple user accounts to be created by your subscribers. Undoubtedly, not an infinite number, but 3-5 accounts would be ideal. This allows a complete family or a group of friends to share a membership while still having individual accounts. Each user account can have a watch list, watch history, and video recommendations.
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Monetization Potential
The main motive behind your OTT solution is obviously income generation. To do that, you must incorporate revenue options, such as a subscription service, a freemium model, etc. Instead of placing all your eggs in one basket, you could get ideas from websites like Youtube that employ a variety of monetization strategies.
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Advanced Analytics and Insights
Thanks to analytics!
Now you can have a 360-degree view of end-user behavior. Data analytics also helps with big-picture challenges like figuring out where prospects leave the most or gauging the effectiveness of your sales pipeline as a whole. Some of the tools you can use are GTM, Google Analytics, GMP, and Amazon Redshift.
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Video Player
This OTT app feature can make or break the video viewing experience of your OTT platform. They’re responsible for the quality of the video that depends on external factors like the speed of the network. The HTML5 player is the most recommended, as it is compatible with all browsers.
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Digital Rights Management
Today’s sensitive problems surrounding digital rights and privacy must be taken into consideration while creating an OTT platform. The optimal configuration should support all widely used DRM protocols and provide businesses with a single point of control to manage the platform’s security when they use it.
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Integrated Marketing Solutions
Marketing in the form of ads is a great way to earn income from your OTT platform. The ads can be in-video banners, skippable or non-skippable video adverts, or both. Any OTT app development firm will gain a lot from giving users the option of integrated video marketing solutions.
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Payment Gateways
Top payment gateways must be included in your OTT platform for content owners and distributors to be able to make money straight from the platform. The platform should ideally support all widely used payment gateways in the regions you are targeting, such as credit and debit cards, bank transfers, UPI wallets, etc.
How Can I Build an OTT Platform With These Features?
To stand out in the ever-growing OTT sector, your OTT platform must offer more and more appealing features. If you’re looking for help with building an OTT Platform with all the aforementioned features and more, you can find the best OTT solution with CONTUS VPlayed.
