Launch an OTT platform: Top 5 attractive features
The era of OTT platform
OTT has been on the rise for some time, indicating that many individuals and companies are interested to launch one. Just have a look at the figures: projected revenue in the OTT Video segment is going to reach US$133,587m by the end of this year and US$221,397m by the end of 2025 (Statista, 2020).
So, you have already figured out how to launch an OTT platform and have thought through the monetizing strategy, AVOD, SVOD, PVOD, or TVOD. In that case, there might still be one question you keep asking yourself over and over again: how to make an OTT platform THE go-to streaming service of your specific target audience. Here are the top five features that will make your OTT platform an entertainment hub!
Watching films and series with friends
Virtual screening rooms are the must-have feature for the times like this when most physical entertainment options are limited or not available. Allowing your audience to view films and TV shows together yet remotely has a few advantages. First of all, one friend might invite five (or even 10!) others to join the screening, who will probably have to sign-up to your OTT platform. Also, it engages people and increases the time spent on a platform.
This feature will stay relevant even after the pandemic is over as people have already got used to staying-home life. Companies like Facebook and Amazon have gone fully remote, so why don’t entertainment!
We bet everyone who has watched “Emily in Paris,” noticed that Emily appeared on a screen in a new bomb look every 10 minutes and wanted to buy at least half of those items! Well, a shoppable OTT platform is not a fantasy, but a new rising trend. The idea is simple – give your viewers an opportunity to buy things from the show they watch by suggesting the websites they are sold on or even allow them to buy it without leaving your platform.
Stars’ social media profiles
Some content is so great that it makes a viewer want to connect to its actors beyond the show. They head over to actors’ social media profiles to look at their real life, their show backstage, or even find out if the show will be renewed for another season. Build your OTT platform in a way that makes people stay there longer by allowing viewers to browse through a particular show actors’ Instagram accounts and read scandalous news articles right inside the platform.
Listen to your viewers – they are what makes your streaming platform live! Netflix has this feature already, allowing its subscribers to leave requests for films and TV series. Keep track of those requests, sort by popularity, and buy movie rights for streaming. And do not forget to communicate with the viewers to let them know that their wants were satisfied and that they make your OTT platform more fabulous.
Content is king
Having exciting features on your soon-to-launch or existing OTT platform might seem like a cherry on a cake, but what is most important is the content you offer and the content strategy you develop. According to Deloitte, customers’ choice of streaming service depends on its content library size. In contrast, the decision to unsubscribe mostly depends on price, especially during the world’s economic crisis.
In order to help OTT providers of any size, stage of development and revenue model, allrites has developed TV and movie licensing packages that will expand their catalogs with hours of great content at the lowest cost.