OTT (Over-the-top) applications, such as Netflix and Disney +, Amazon prime have turned the entire entertainment world. These applications offer video streaming services that can be accessed on all smart devices like television, laptops, desktops, and mobile phones. Convenience and an ad-free experience, while watching movies, TV shows, and other content, are the two main reasons behind the growing popularity and demand for these video-on-demand (VOD) applications.
If you are planning to develop an OTT video app, then you are at the perfect place because this article is for you. We appreciate this excellent idea of yours to build up a content delivery network. Firstly, keep yourself in contact with a Professional OTT Video App Development Company which will provide you a perfect sketch out of your idea.
According to Statistics, OTT media revenue is forecasted to reach USD 158.84 billion by 2024. This number was USD 67.8 billion in 2018. It also reveals that Netflix is the biggest OTT provider worldwide with more than 150 million paid subscribers. As per a recent study conducted by market research firm, Wakefield Research, it was Covid-19 which drove Indians to use entertainment as a way of unwinding and in their survey, 94% of respondents said they were willing to pay more for a premium subscription to get more enhanced video and audio quality.
It’s been years since its entry into the Indian market, but its phenomenal growth was heavily contributed by the lockdown in 2020 which takes the OTT viewership worldwide. Key to its success is the localization and diversified offer strategy with new and fresh content which means to be the primary key of the OTT platform.
“While we grew 200% this year, at the back of an aggressive slate of content line-up and hyper-personalization, we aim to make deeper inroads into Indian homes going into 2021.”
By Rahul Maroli, senior vice president and business head, SVOD, ZEE5
The latest survey comes out the 5G network is expected to transform and bring in new capabilities to OTT Platform worldwide. The arrival of 5G will add more essential opportunities to it and a boom in the OTT Video App Development where technology with entertainment will lead the world.
India is expected to have more than 500 million OTT subscribers by 2023. By bridging the gap in performance between OTT streaming and broadcasting services, OTT players can ensure the provision of high-quality, low-latency, and cost-effective content to their subscribers. The ability to live-stream such lucrative content as music shows, sports, and e-gaming events, would further drive OTT adoption in India in the coming years.
All these are showing that there are great opportunities to have development in OTT video app platform where the company who is going to develop a video app is going to lead the technology globally.
After all the survey and research when we enter the developing world where actual work is going to be done requires real-time good investment and time if you want to be in the race.
We have to work overall requirements whatever required like we have to work over its features like which is fundamental before creating an app. We also have to decide which type of content we are going to deliver to our viewers.
Afterward, you need to decide the technology stack which will include choosing the right server, streaming protocol, and security systems. If you are new to this field and don’t have any idea of the OTT development process, then contact and hire an experienced and dedicated OTT video app development company with relevant expertise to get the worth of your money.
Setting the strategy beforehand is always recommended to get maximum ROI on your OTT app. Most of the OTT platforms earn money through subscription or membership plans and some want to play safe by providing free membership in which advertisement plays the role of earning. You can choose from these same or ask your OTT video app development company for other suggestions.
A version of this article was first published at: https://www.nettechnocrats.com/ott-video-app-development.php