Creating an OTT app for your video business is the current wave, and well-known services such as Amazon Prime, Netflix, etc. are proving this statement right. With the right OTT app builder, you can create a great platform. With the pandemic scenario impelling people to be indoors, Over-the-Top entertainment or OTT ensures that they don’t feel bad about not going out. As a matter of fact, nearly 80% of customers in the US are subscribers to at least one OTT service.
Amazon Prime, Netflix, HBO Now, and other types of popular OTT services have turned the ways in which audiences watch content. Viewers of today expect high-quality on-demand streaming – the freedom to watch wherever and whenever they want to by just subscribing to the service. You can make this a lucrative video streaming business. Research shows that the number of Subscription Video on Demand or SVOD subscriptions is expected to escalate to 307 million by the year 2025 in the USA.
When you build an OTT app, opportunities are created to meet your viewers at the right time and place. You can exponentially increase the audience base and expand the video business. This blog will present to you how OTT apps for your business can be a profitable venture. After you finish reading you would want to create OTT app for your very own OTT platform too.
OTT Apps – The Future of Video Businesses
Viewing traditional TV channels is now a thing of the past. OTT app platform industry is dominating the scenario and is at the start of turning into a multi-billion-dollar industry. This is the right time to expand and grow your video business with OTT websites and mobile apps. OTT app development is very popular today.
By 2025, OTT viewer penetration is expected to touch 48.3% as per Statista. Over-the-top applications or OTT are apps that deliver content across the internet. It is not like the traditional distribution procedure where you make payment for channel packages. Instead, the viewers pay a subscription rate or fee also referred to as SVOD to view their favorite shows on their chosen device. As per a recent survey, 63% of viewers in the age group 18-34 view live streaming content on a daily basis. It is a safe bet to say that your video business is future-secure with OTT apps, as the OTT market is expected to touch 62.03 billion by the year 2022. In 2015, the OTT platform market was placed at a value of 28.04 million.
The convenience and accessibility of viewing OTT apps from any place is getting a significant change in the way people consume content in the present day. And not to leave out the superior quality of video content that viewers can watch via OTT streaming apps.
OTT Apps for Video Streaming Business – What are the Benefits?
So, what are OTT App benefits? They are listed below:
1. Get more Viewers/Customers with OTT Apps
When the content can be accessed on multiple devices, people are inclined to watch more of your content. They will view the content and like it a lot. This means that the subscribers are not limited to only one or two devices for accessibility to your content. They have several options when it comes to on which device, they would like to view your video content. With the assistance of OTT apps, you can aid your consumers to view content on mobile phones too. This will help you lower the rate at which you miss out on prospective customers.
Grow Conversions Via the OTT Apps
Making use of OTT for On-demand Video App Development can enhance user engagement and also get new users for the video content. You can also present the convenience and freedom to the subscribers to watch their favorite content on larger screens like TV, gaming consoles, tablets, etc. This method will help transform visitors into loyal customers and keep existing customers too. In this way, you will increase revenue as well as conversions for your business.
Effective Advertising Strategy
The OTT platform has the best advertising tools to sell your content on many channels and platforms than earlier. Advertising content on TV will not give you a rough idea of the number of persons who viewed your advertisement. You will also not be able to be aware of actions taken by them after watching the ad. To bring in more conversions, ads can be favorably programmed to be embedded via OTT app developers.
Dividing Audience to Enhance OTT service
It becomes easy for the promoter to divide consumers more exactingly with OTT apps. It facilitates real user segregation. Podcast apps today offer exact data on device types, the location of the audience, and episode retention.
Competence and High-Quality Offered by OTT Apps
The apps utilize the latest technology and offer high-quality services at an economical cost. When investment is put into advertising on TV channels that are not so much viewed by audiences, it is just like investing in the best OTT platform which does not give the required outcome. Conversely, when your offer content that meets your audience’s interests, it will aid in getting maximum returns on investment, and more customers will want to engage on the app.
Manage Your Brand and User Experience
If you truly value your content and brand, you should take care of it and transform it in your way, for the audience. You can’t limit yourself by being on YouTube and get bothered as your audience is being offered the “rabbit hole” of other content suggestions or YouTube is streaming ads that are not aligned with the audience or brand, or that the channel is crafted to go with YouTube’s brand and not yours.
Businesses are routinely looking out for interesting ways to get higher conversion rates from their marketing and branding campaigns. OTT platforms are ideal for companies to promote, advertise, and share necessary content in video format directly to customers’ devices through the internet. Video content distributors, creators, and OTT platform providers can include an OTT solution with an OTT app to get to more customers and stay relevant in the OTT space.