There is a growing demand for on-demand content in the contemporary world as it offers the audience much-needed flexibility. They have total control over their viewing experience. This has given a major boost to modern-age OTT platforms that focus on improving the user experience. OTT platforms deliver the content directly to the end-user by leveraging the internet and eliminating any middlemen in the process.
OTT channels are being preferred by users for both entertainment and educational purposes. Having the right OTT platform features adds to the user experience quotient. If you are a content creator, building an OTT streaming platform is the first step in the right direction. You must add all essential features to stay competitive in the market. Let’s delve deeper into 9 essential features that OTT channels must have in the contemporary.
9 Crucial features for OTT platforms
Here are some of the most crucial features that your OTT video platform must have to survive in a competitive landscape. Not having these standard features will make it harder for you to create a sustainable business using your OTT platforms.
1. Performance & speed
The performance and speed of your OTT platform play a crucial role in its overall success. It doesn’t matter how good your content is if the users are not able to stream it seamlessly without any lags. OTT channels leverage the internet to deliver content and sometimes the internet speed may not be up to mark. OTT giants like Netflix offer users to stream in different modes based on their speed to deliver an uninterrupted streaming experience. It is crucial to offer users multiple options to stream content based on their internet connectivity.
2. A high degree of customization
Customization is one of the most important factors to consider while building a high-quality OTT streaming platform in the contemporary. A highly customized OTT platform is highly beneficial when you want to create a brand around it. It also provides you with the required flexibility when it comes to evolving and adapting to new changes. Your OTT platform should allow you to easily customize and create extensions as per your need.
3. Live streaming capability
The popularity of live streaming content is growing given the benefits it offers. Celebrities and brands are using live streaming content to engage with their users in real-time. It helps to boost engagement and provides for a more personalized communication channel. The real-time interaction helps to create a strong bond between the brands and their audience. Your OTT platform must have the live stream option.
4. Anti-theft features
The internet has made it easier to share your content online with the targeted audience and bank on the same using OTT channels. However, one of the biggest disadvantages of putting your content on the internet is that security is not guaranteed. It is prone to theft and copyright infringements are mainstream. This restricts the creators from reaping the full benefits of their creations. Your OTT platform must have anti-theft options to protect your content from being illegally distributed.
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5. Advanced analytics and insights
In the modern digital era, you need to rely on advanced analytics to obtain valuable insights about your users. In the OTT business, this will help you create more relevant content that your users would want to stream. If you blindly go on creating the content without incorporating the user’s response or feedback, you won’t be able to create a loyal audience base. Having OTT platforms that offer advanced analytics and insights can also help to level up your marketing game. This will allow you to provide personalized recommendations based on the user’s preference.
6. Multiple video monetization options
Your OTT business should generate some revenue to survive in the long run. It is easier to monetize your content today than it was a few years back. People are willing to pay for the content they want to watch and OTT channels provide them with the flexibility to choose. Having multiple monetization options provides you with more flexibility when it comes to banking on your creation. Some of the commonly used video monetization models include SVOD, TVOD, AVOD. One can choose the most suitable one based on their target audience and business needs.
7. Content management system
One of the most crucial OTT features that one should look for is a centralized content management system that allows you to control different aspects of your platform. Having an effective content management system can help you in importing, curating, and managing your content. A content management system can help you organize and upload your content on your OTT platform in a seamless manner. Some of the crucial aspects that you can manage easily using a centralized CMS include adaptive streaming, offline access, curating videos, watermarking, geographic setting, etc.
8. Multi-device platform
If you don’t want to limit your audience base, your OTT platform must offer multi-device support. Multi-device support imposes no restrictions on the audience, they can stream the content on the type of device they have access to. This is among the most important features to consider in OTT platform development.
9. Payment gateways
To seamlessly receive payments from your customers, your OTT platform needs to support all popular payment gateways. Having multiple payment gateways helps to ensure that your users do not have a tough time paying for their purchases on your platform.
In a nutshell
The OTT industry is growing at a rapid pace and to bank on this growing trend, you need to build a branded OTT platform. You need to ensure that your OTT platform has all crucial features to provide a good user experience. Choosing a reliable OTT platform provider that offers a Whitelabel OTT solution will help to create a sustainable business in the long run.