5 OTT Platform Facts That Businesses Can Avail To Profit
Companies turn to creating their video content and placing it on OTT platforms as it appears to be a profitable business. OTT services are beneficial, indeed, because they use the Internet connection to deliver content. The Internet allows businesses to develop features that increase user engagement and help them stand out from the competition.
In this article, we are going to explore five things about OTT platforms that businesses can take advantage of.
You don’t need to develop your own OTT platform.
Many companies on the market have already developed a platform for your purposes – they created white-label solutions. Such a solution is a pre-developed OTT platform. It should be customized to match your brand design and make your platform recognizable.
A white-label streaming TV platform can be suitable for streaming live videos, while you can also use the solution to create a VOD service. VOD means that a user will be able to access videos on-demand – anytime he or she wants.
A white-label product saves your time and money as you don’t need to pay developers while they work on a project. You buy a pre-developed program and customize it.
You can read more about developing a video streaming platform in the blog.
You obtain valuable analytics data.
Pre-developed OTT platforms usually come with necessary software – Middleware. Middleware provides a business owner with functionality to manage content and subscribers, configure an interface and monetization models, and analyze the platform’s performance.
You can use the analytics feature to understand the behavior of your audience, their interests, and preferences. You will see what videos they like and dislike and how people watch them.
Extracting these data and analyzing them properly might lead to platform enhancements and revenue growth.
People like the OTT services recommendation feature.
Services today benefit from AI-based engines that provide consumers with recommendations. Video streaming platforms also take advantage of them, saving users’ time and satisfying them.
It is helpful, especially if there is a whole library of videos on a platform. Users don’t need to dig deep and waste hours when looking for a new video to watch. Smart recommendations bring consumers content they might like – the assumptions are based on the videos they watched previously.
Multiple user accounts will increase user experience.
User experience is what matters a lot. If users are satisfied with your service and the features you provide, there are many chances that they won’t leave your platform. One of the features that many families can appreciate is multiple user accounts.
They will be able to purchase a single subscription but the platform will be used by 2 or more family members. It is up to you to set a limit.
The multiple-user account feature will allow consumers to have a watching list and video recommendations for each member.
Final Thoughts
Usually, consumers like platforms developed with features that can help them simplify the usage of a video streaming platform. If you introduce these features, you will enhance the platform, and customers will be more likely to continue being your customers. You will also be able to understand their preferences better, which is also essential for further improvements.
