Switching to OTT Video Platform is not an escapable decision anymore. The reach and grip of OTT is now known to everybody, and so, still ignoring it can be a missed opportunity. Moreover, because of the readiness that consumers have shown for OTT’s adoption, the businesses should prepare to respond to the changing preferences.
The time is absolutely correct for starting the OTT Video Platform. It is emerging as a savior to the content-hungry audience who is always in search of different genres of entertainment. Also, it has got the nod of emerging technologies and the support of experts who need not make many changes in their knowledge pool to embrace this platform for connecting with audiences.
So, the only question that remains is – How to start? Here is a little help.
If we say, the cable TVs have finally got its successor; it would not be an overstatement. The people are ready to cut the cord and move to live streaming platforms that don’t even need TV, sometimes. Such a flexible way of accessing entertainment becomes possible to provide when you have sourced these components:
- Multiple CDN: Online video streaming services reach people beyond boundaries. You can find Russian OTT, Korean OTT, and other contingents developed in different parts of the world. It requires an omniscient delivery network that serves both needs of speedy downloads and high-quality format. Multiple CDNs located across the world helps ensure quality of data and quicker adjustments in bandwidth as needed.
- Transcoder: The live streaming platform can be made available on any device or platform. It requires adjusting the files’ size, audio and video formats compatible with these platforms. The OTT owners need to have transcoding technology that helps achieve compatibility with multiple devices that support various video formats. Transcoding allows adapting video streaming to multiple bitrates needed for OTT publishing to achieve multi-device compatibility.
- Cross-platform presence and custom monetization model: Users expect to have OTT available to them on any device of their choice and also in the chosen formats at preferred time. This ease of accessing OTT content from various devices requires including cross-platform compatibility features in online video streaming service. It helps to leverage the extensive reach capacity of this service which is one of the prime reasons for switching to OTT services.
The other thing to care about is the monetization model. Depending upon the platforms chosen for streaming, the services finalize the monetization model. They can go for subscription selling, pay-while-on-the-go, and others suitable for matching consumers’ varying payment preferences.
- Select streaming protocol: You must know that there are multiple streaming protocols that online video streaming services can pick.
For cross-platform delivery, RTMP protocol is useful. It offers better connection sustenance required for buffer-free experience. Further, its low-latency interaction format allows breaking information into smaller chunks leading to better refinement of user-service interaction experience.
Next, there is an option of HLS protocol. It is one of the widely used protocols, as it helps make adaptive streaming a seamless affair. Dispensing with the need to make any change in web server allows offering plug-and-go convenience to the protocol users.
A combination of HTTP and RTMP offers a suitable protocol for a live streaming platform that is known to deliver captivating viewing experience.
Choose hosting style
Where to host the application is quite a crucial consideration. One can either go for having in-house server hosting or can move the operations to a cloud. The cloud hosting offers to you the advantages like:
- better levels of scalability
- security and
- the latest technology advantage
Cloud solution keeps the live streaming platform protected against latency issues as the delivery becomes quicker, buffering quite smooth and seamless, and downloading or streaming exceptionally high in quality.
Market it with appropriate targeting strategies
OTT platforms have the choice of adopting multi-platform and multi-genre business models according to their scale of operation. The online video streaming services can reach correct markets by designing appropriate marketing strategies. For instance, design a campaign directed at multiple device users and for multiple platforms when your functionality is cross-platform.
If you plan to launch a niche solution, the marketing strategy ought to change. Some of the ways you can draw audience to your OTT service are:
- Highlight new shows and encourage customers for opt-ins to grab the information about them instantly
- Design messages that tell clearly what to expect
- If you have partnered with a new production house or signed a new sports coverage deal, aggressively spread the word about it through proper channels.
In a nutshell, a correct mix of technology, vision, marketing strategy and operations-oriented planning is required to launch an OTT video platform. Start thinking around these points if you have decided to foray into these highly promising OTT platforms; these are the basic things to do to launch the OTT video streaming service business.