How to Create a Multi-million Dollar OTT Platform in 2024?
Published On April 3rd, 2024 How To
⚡️ Are you looking for the perfect guide on “how to start an OTT platform? Follow these basic steps to create your own platform and monetize your content online. ⚡️
Now is the right time to build your own OTT platform as there are no limitations to the distribution of the OTT content with more content creators turning to OTT production for increasing their audiences up to 30% and their revenue growth.
For all your thoughts on ‘how to create an OTT platform’, here is a 360-degree view on why it is the best idea to get started today.
Table of Contents
What is an OTT platform?
OTT Platform the acceleration of OTT streaming has catapulted video delivery over the internet. With the rapid pace of OTT services bringing substantial changes, there is a considerable impact in the world of media.
“As the OTT revenue is set to approximately hit 167 billion dollars in the year 2025 across the globe, the OTT is touted to be the suitable way to gratify the consumers.”
Based on the type of content delivery and monetization models, the OTT channels are categorized strategically for progressive streaming. OTT services are classified based on their content preferences such as,
- E-Learning
- Gaming
- Sports
- News
- Music
- Entertainment
- Movie
More than 82% of the adult population in the U.S experience video streaming of film, TV, and media content to be more enthralling than cable TVs. Surprisingly, less than 66% of the adult population in the U.S are subscribers of cable TV.
🌟 Read Also: What is OTT? A Definition of OTT & Its Meaning 🌟
Prime Benefits of Building Custom OTT Platform
Content creators can reach their viewers and engage them with video streaming services by creating a unique brand experience. With access to content, your brand gets recognized and familiar amongst the viewers. Modern users have now become more accustomed to the practice of viewing videos anywhere, anytime at the flexibility of devices.
Boosting the Brand Awareness
The OTT videos are efficient in enhancing brand awareness, interest, and perception. Approximately, 70% of the viewers indulge in three hours of viewing videos on a day-to-day basis. A chain of brand awareness, user behavior, etc will bring in more customer loyalty.
More Scalability
The modern technological OTT solution will help businesses launch their OTT platform to extend the measure of the platform and user engagement for increased business profits and ROIs.
Monetization
The prime reason for the OTT service providers to create their own OTT platform is to monetize their video or audio streaming with the availability of multiple business models.
Diminishing the Cost and Time
Building your own online video platform with the help of a white label video streaming provider will be a cost-effective alternative as it cuts down the time for the process and infuses all technological advancements of the solution provider.
Micro-targeting and Data Transparency
Develop your best online video platforms with the fundamental aspects in mind and data encryption with content originality is the major aspect of it. Securely ensure publishing of videos to establish the restriction of geo-localities and work on the persuasion of your audience to watch through a microtargeting strategy.
Convenience
It is mandatory to choose the right niche that seems to be on-demand while planning on how to launch your OTT platform. Sports, eLearning, Spiritual, Fitness, etc are other prominent genres apart from entertainment to explore in the OTT streaming business.
How to Build an OTT Platform successfully?
There is a wide range of OTT services in the market with a unique set of attributes and it is essential to figure out the prime features for comprehensive streaming. You need to consider technological advancements involved in streaming before narrowing down on an OTT platform.
Listed below are the key factors to look out for in the process of building your own OTT video platform.
Step 1. Always pick up a prominent business streaming genre
Pick a suitable genre while creating your own OTT app platform for showcasing the content, On-Demand videos, events, or movies to suit the requirements of the viewers.
Step 2. Target your audiences with Compatibility
Make your audio or video content flexible and compatible for streaming across all platforms and devices with strategic content delivery.
Step 3. Strategize on your resources based on services
Develop your own OTT platform specifically based on the type of content delivery to your viewers. Ensure proper planning of resources to deliver a better viewing experience to your customers.
Step 4. Focus on the improved viewing experience
Deliver original content and focus on delivering a compelling viewing experience. With the availability of multiple OTT providers, concentrate more on streaming valuable content to the masses.
Step 5. Measure your User Behaviour
With a wider and dynamic target audience, it is important to deliver a variety in the content to suit your audience and establish the mindset in the specific demography with analytic tools such as Real-time traffic updates, Current viewership status, User behavior analytics, Revenue Report, etc.
Step 6. Increase ROIs with the right Monetization business models
OTT video services involve live streaming and Video-On-Demand. Pick the monetization model suiting your business needs and it will enable quicker revenue generation by attracting more viewership through advertising. As OTT streaming providers you find ample scope for profitable income in larger divisions.
Step 7. Choose between Websites and Branded OTT Apps
OTT content can be released through an app for viewers or by creating a website. Best OTT platforms should offer tailor-made templates for websites and apps or website builders to create and launch effortlessly.
Make the inclusion of Payment gateways and In-App purchases– Ensure smooth In-App purchases by integrating secure payment gateways into your OTT channel to give your subscribers a hassle-free transfer of money within the application.
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Progressive Technologies Involved in Creating an OTT Platform
For the generation of increased ROIs from your streaming content, you must infuse the usage of specific tools and stellar technologies to boost the business growth with their progressive functions making them unique and futuristic for content creators and viewers.
I) High performance and Reliable Cloud Hosting
The majority of the OTT service providers use the AWS cloud service for their cloud storage component. Business professionals get benefitted from the cloud-based solutions in building their own OTT platform for increased business revenue and growth.
II) Competent Servers
To handle the larger amount of coexisting connections, make use of the Nginx server. The use of an edge server is undoubtedly the best server in holding the static files and easily streams content in HD quality.
III) Necessary Streaming Protocol
The two prominent streaming protocols put to use in OTT streaming are HTTP live streaming and RTMP. With the use of a Real-time messaging protocol, you can experience low latency interaction and transmission of maximum data.
IV) Superior (CDN) Content Delivery Network
CDN providers are seen as the prime aspects in bringing down the traffic inside the core network and eventually increasing the low latency. The most superior CDN ensures a progressive performance.
V) Robust Security
Security systems are mandatory for OTT streaming success. DRM and AES encryption are the prominent security systems for protecting any content from unauthorized access or copyright issues.
VI) Multi-device access and support
The flexible accessibility across multiple platforms is the right way to ensure the provision of video content at a wide range of devices such as Mobile, Web, Smart TV, Tablet, etc. It is an integral aspect offering the highest scope of business ideas.
VII) IT Infrastructure for seamless distribution
For seamless content distribution, smooth functionality across various platforms is mandatory. The best video streaming will cut down on various other IT resources and make it cost-effective.
Recommended Reading
How Does VPlayed help to Create The Branded OTT Platform?
VPlayed shapes your unified streaming platform with the integration of forefront technologies for exploring the comprehensive streaming capabilities. Broadcasters or content creators can empower their audio or video demand with the help of VPlayed with the right monetization model and compatible streaming across devices.
Dive below to explore the outstanding attributes of the VPlayed solution in building your OTT platform.
1. Video Hosting
Experience convenient online video hosting platforms of all your original contents at your liberty with the assistance of VPlayed’s VOD hosting.
2. Video Content Management
With video content management system you can now experience unlimited storage of videos across your channel infused with multiple options like drag and drop, analytics, etc.
3. 100% customizable
Get your best VOD solutions highly customized and end-to-end encrypted services fully integrated to suit your needs.
4. Cloud Transcoding
Integrated with video transcoding will ensure quicker transcoding of content in the process of streaming live content and cloud.
5. Adaptive Streaming
Build video streaming app without any buffering issues at any bandwidth, the adaptive streaming feature will give a complete video streaming experience.
6. Global distribution
Acquire complete access control, and have selective video delivery to strategic locations by monitoring the local content.
7. Content Delivery Network
With CDN networks, manage and distribute the content effectively.
8. Offline download
You can experience affluent offline playback streaming features enabling every user to download any video for offline watch.
9. Monetization Models
With VPlayed, you get the right OTT monetization models for your business with smooth integration of payment gateways and increase your ROIs with TVOD services, AVOD, SVOD, and more.
10. Security
Secure your OTT content with futuristic DRM tools by initiating end-to-end encryption of videos and security protocols to ensure superior safety against digital threats.
11. Channel Partners
Streamline and increase the flow of content by associating with third-party channels.
12. Social Integration
Aggressive social integration will enlarge your audiences and bring in the promotion of videos in multiple social forums.
13. Marketing
Integrate your OTT app with VPlayed’s first-class multi-device compatibility and in-built marketing tools for higher optimization.
14. Analytics
Track data and have an In-depth analysis for decision-making based on the third-party integration with google or Microsoft analytics.
Hire Our Dedicated OTT Developers
Empower your vision of a branded OTT platform with the expertise of our dedicated VPlayed team. With a deep understanding of streaming technologies, we specialize in crafting unified streaming solutions that empower broadcasters and content creators.
Our services encompass the entire spectrum of OTT platform development, from video hosting and content management to adaptive streaming, global distribution, and secure monetization models. You can count on us for 100% customizable solutions, seamless cloud transcoding, and advanced security measures including DRM tools.
Join hands with VPlayed and leverage our expertise to realize your OTT vision. Nevertheless, our skilled developers will build an exceptional streaming experience that engages viewers worldwide, based on your specific requirements.
How Much Does it Cost to Build an OTT platform?
The Cost for creating an OTT platform will be more expensive with the addition and maintenance of more attractive features. You can expect an approximate payment between Fifteen thousand dollars and Two hundred thousand dollars for a branded OTT platform.
Post the development of your OTT TV app plan, you have to focus on hiring the OTT platform developers or bringing in the auto-coding approach. The technology stacks you choose will decide on the price of your broadcasting channel.
Conclusion
As more and more businesses are venturing into OTT streaming, It becomes a herculean task to pick the right solution provider for building your streaming channel. Explore the feature-rich attributes of VPlayed for creating a world best OTT platform with futuristic technological features to increase your revenue generation and double up the business growth.
If you already have an idea about starting an OTT platform, Schedule a free demo and we’ll help you implement it!
Frequently Asked Questions (FAQ)
If you’re thinking about why and how to start your own OTT platform, the important aspect of having access to streaming data and the necessary infrastructure is crucial. This is due to the fact that customers now spend more time than ever before watching video content on their mobile devices. By investing in OTT services, you can take advantage of chances that pay TV can’t provide & directly contact your target audience.
Before you could get into the process of OTT platform development, you should know a bit about the must-haves for any over-the-top based business. Some of the main elements that go into creating your own OTT platform are: complete customization, multi-supportive adaptive video player, access to robust CDN, easy-to-use CMS, branded UI & website, secure payment processing, analytical video metrics, and more.
Like anything else, building an OTT platform has key criteria which play a dominant role in its cost factor. Some of them consist of varied customization, brand objectives along with its target market, platform integration either on cloud/on-premise, and other deliverables that can power up your streaming business such as marketing, analytics, advanced tech-stack like HLS player, centralized CMS & much more.
Accelerate your streaming revenue potential by utilizing the top-most monetization lucrative opportunities offered in the industry. VPlayed lets you have them with a flexible solution that can be tailored to your business niches & audiences. Some of them are Subscription-based (SVOD), Transactional-based (TVOD), or Advertising-based (AVOD). Other than that, you can explore options like Catch Up TV, Coupons & Promotions, Hybrid model, & more.
The OTT entertainment industry has now a plethora of opportunities with the increasing demand for subscription services. Services like Disney+, Amazon Prime, Hulu, Peacock have been drawing enormous revenue upscale, with their creative streaming platform. One who is looking to build video infrastructure needs to know that high-end technologies necessitates investing hugely. Also, platforms need to compulsorily enable seamless content delivery to maintain their ever-growing subscriber base.
As we come to know that OTT video platform are leveling the playing field for independent creators you can actively look into the process of how to create and own one for yourself. Some of the key factors to consider will count with an established audience set to target, regular content addition that can help to sell others existing in the archive transactionally, unique content with a niche following, long-term & making a consistent content publishing calendar.
Blogger & OTT Expert at VPlayed. Interested in digging deep into video streaming media tools, and Love to blog, discuss and share views on the legal OTT app development' & latest technologies tips, and tricks. He's also passionate about photography loves to capture the pure essence of life.
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How VPlayed is different from the other platform? What are the unique functionality and benefits on creating a OTT platform with VPlayed? Thanks
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I am looking to build an OTT platform that will allow for on demand session, essentially like a group video so the students can see the teacher, and the teacher can see all the students, is that something we can do? What would the cost look like?
we need to create an OTT platform customized as per our need for delivering our 200 hrs of OTT content in USA. Kindly reach out at the earliest. Is it possible to showcase the demo session of your platform? It will help’s to make immediate decision for this?
Hello, We would like to start an OTT platform to stream our content across the OTT devices. It should be able to monetize these using advertising and or subscriptions. I was wondering what your company could do for us.
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Hello, I am curious about making my own ott platform. How much does it cost on average to set this up? And if possible, may I create sub-channels that are password protected? I manage an event management business and need a way to parse out my individual clients.
Thanks for this comprehensive guide on starting an OTT platform! It’s clear and concise, making it easy for aspiring entrepreneurs like me to understand the process. I appreciate the emphasis on content diversity and the importance of user engagement. Can’t wait to put these tips into action and launch my own OTT platform soon!
Hey, Please let me know the pricing details for starting the OTT platform, & also let me know if we can connect sometime to discuss in detail. We will be having technical questions as well so please pull in technical people in the demo/discussion.
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We wanted to make our own ott platform with necessary functionalities like hosting our videos on your video platform and showing that video in our Android and iOS app. There should be an option to add integration and also mid-roll and pre-roll of videos features should be there.
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Hello, I want to build an OTT platform with a subscription model like Netflix. I am looking for a service where I can upload my movies and charge a monthly fee so my customers can watch them anytime they want. Please let me know the right options and price.
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Hi, I am interested in your solution to starting an ott platform with advanced features like Netflix. I would like to know more and watch a quick demo.
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I’d like to get pricing to create an ott platform that is just starting up. I currently use Vimeo ott as an experiment and cannot live with their pricing model, Need info about migration too.
I am looking to provide my classes for those who have moved out of town or can not make it into our studio. I am needing pricing to see if this is something I can manage and guidance on how to start ott platform for my service.
Good Day, My team and I are seeking to have our own ott platform similar to Netflix. We’d like to get your assistance and details to build world-class ott service. Thanks
I’ve been thinking about starting an OTT platform to showcase my video content, and your blog has given me the confidence to take the plunge. I especially liked your emphasis on the importance of security measures and copyright protection. It’s reassuring to know that there are ways to safeguard my intellectual property and provide a safe environment for viewers. Thanks for the guidance!
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Looking for the right service to start an ott platform for my personal training company. It will be a combination of live streaming and video on demand services.
Your blog came at the perfect time for me! I’m currently in the planning phase of launching an OTT platform, and your insights on building a user-friendly interface and incorporating analytics tools were invaluable. It’s great to know the importance of data-driven decision-making and how it can lead to the platform’s success. Thanks for sharing your knowledge!
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Interested in seeing a demo and presentation of your platform. I need proper assistance to create an OTT platform with encrypted DRM features and multi device support.
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Hey! We are a start-up and want to launch an OTT platform. We want a subscription-based system with the special feature, that the users can decide themselves which movie they want to give part of their subscription money to.
Hey, Please let me know the pricing details for starting the OTT platform and also let me know if we can connect sometime to discuss in details. We will be having technical questions as well so please pull in technical people in the demo/discussion.
We wanted to create own ott platform with necessary functionalities like host our videos on your video platform and show that video in our Android and iOS app. There should be an option to add integration and also mid roll and pre roll of videos features should be there.
Hello, I want to launch an OTT platform with subscription model like Netflix. I am looking for a service that I can upload my movies and charge a monthly fee so my customers can watch them anytime they want. Please let me know the right options and price.
We are going stream our video with high quality and efficient way so we need to start an ott platform with efficient video player and content delivery for our service.
Hi, I am interested in your solution to make ott platform with advanced features like Netflix. I would like to know more and watch a quick demo.
I’d like to get pricing to build ott platform that is just starting up. I currently use vimeo ott as an experiment and cannot live with their pricing model, Need info about migration too.
I am looking to provide my classes for those who have moved out of town or can not make it into our studio. I am needing pricing to see if this is something I can manage and guidance on how to start ott platform for my service.
Good Day, My team and I are seeking to have our own ott platform similar to Netflix. We’d like to get your assistance and details to build world class ott service. Thanks
Looking for the right service to start ott platform for my personal training company. It will be the combination of live streaming and video on demand services.
Hello, I am curious about creating my own ott platform. How much does it cost on average to set this up? And if possible, may I create sub-channels which are password protected? I manage a event management business, and need a way to parse out my individual clients.