A Quick Guide on How to Create Launch and Monetize Your OTT Channel

Over-the-top (OTT) platforms are intensifying in popularity not just in India but across the world. A large number of video content creators, filmmakers, and commercial entities are opting for OTT platforms to showcase their work. This has created a new network of target audiences for content creators. The PWC report concluded that OTT is the preferred platform for entertainment in urban India.

Statistical records by PWC predicted that India’s OTT market will hike at a 21.8% CAGR from INR 4464 Cr in 2018 to INR 11976 Cr in 2023. Also, INC Newsreported that the surge in OTT Platform subscriptions is obvious in India as it is the second-largest mobile data consumer in the world.

The report claims that since the lockdown there is 75% growth in OTT app subscriptions, 1/3 of OTT visits are over an hour, and viewers complete 98% of all premium video ads on these OTT platforms.

So, if you are a content creator, who would like to venture into the OTT platforms and understand how to start an OTT business, then here is a complete guide for you.

In this article, we will take a quick look at how to build an OTT platform, launch the channel and find out ways to monetize it. But before we go ahead, let's also comprehend how beneficial it is to build an OTT platform?

Listed Below Are the Benefits of Starting an OTT Platform:

Brand Awareness

Creating brand awareness for broadcaster and OTT networks is simpler and more effective than any other medium, as OTT uses the internet to bring video to viewers. As a platform owner, you can grow your audience and find new leads for your OTT app by running targeted ads on social media or by indulging in SEO, PPC, PR, etc – a lot can be done to increase brand awareness.

Scalability

The Anatomy Media released a report named, "The Young and The Brandless," which said that 71% of young millennials watch television content on OTT platforms and that it is the most common way of viewing video content. Hence, in today’s increasingly digital culture, launching or hosting videos on OTT platforms can offer scalability of content.

Monetization

As a video creator, the purpose of building your own OTT video platform is to monetize content and eradicate any middlemen in the process. There are mainly three revenue business models applied to OTT platforms. They are known as subscription video on demand (SVOD), advertisement-based video on demand (AVOD), and transactional-based video on demand (TVOD). This is beneficial

Time & Cost-Effective

Whether it is building an OTT video platform from scratch or working on an OTT app development– it works out cheaper than traditional ways such as theatres or TV productions. Moreover, as these systems are automated uploading, launching, and moderating content on a regular basis is easy, thus, time-efficient.

Factors to Consider Before Starting an OTT Platform:

Building your own OTT platform is the right choice especially in these times when viewership is moving online. However, it is important to consider a few things listed below before you get started.

Have Defined Market:

According to TOI, the OTT user base is expected to be at 462.7 million by 2025 in India alone, showcasing the market share OTT platforms receive. To be a part of this extensive market having a thorough understanding of your target audience is a must. You should know the preference of your audience in order to penetrate the market and generate revenue effectively.

License Content:

Videos on OTT platforms need to gain licenses to broadcast content similar to television. From model releases, advertising agreements, to revenue-sharing with content creators – there are a lot of licenses and permissions that may be involved. Hence consider the factor of licensing content on your OTT platform before going ahead.

Video Marketing:

Making sure your OTT Platform is out there and reaching the right audience depends on video marketing. Choose the right strategy depending on what audience you want to cater to – from Emailers to social media marketing, YouTube to PR activities – ensure to create a proper mix.

Expand Demographics

Hyper segmentation of demographics is a wise way to expand your reach for your OTT platform. Therefore, before launching your OTT platform, know the demographics you will be targeting and expand it to create your niche.

So, How to Launch an OTT Platform? And What Do You Need to Have a Full-Fledge OTT Solution?

Encoding / Transcoding

Video encoding is a process where raw videos are compressed and video transcoding means re-encoding compressed files. Transcoding also decodes the incoming videos before encoding them. Both processes have a similar purpose and are mainly initiated to encode the video.

Multi-DRM Security (Digital Rights Management)

Digital Rights Management, is a digital licensing system that lets content creators and OTT platform owners manage who and how content is being accessed. Multi-DRM security is a license management feature for multiple DRMs and supports major web browsers and mobile operating systems.

Middleware and CMS (Content Management System)

Middleware lets you as OTT platform owners manage your customer subscription, customer billing and offer content management systems (CMS). With OTT CMS you can store, organize and share videos on different platforms. Moreover, OTT CMS allows you to format and store content in central repositories that can be easily indexed and shared online at any given time.

Multi-Screen Devices and Apps

While building an OTT application it is important to stream high-quality content across multiple platforms and devices to reach the masses. Reaching your audience on any device is essential, but also ensure to offer quality streaming to provide an enriching experience.

CDN: Content Delivery Network

Similarly, deliver your content on OTT platforms with a Global CDN. This makes sure your content is available across global boundaries and fast-loading content is delivered to the users. With multiple servers and data centers in a network, users from various locations can access content easily.

Various Revenue Models

As mentioned earlier in this article, OTT platforms have mainly three revenue models they are – SVOD, TVOD, and AVOD. However, depending on the content showcased various revenue models can be added such as Affiliate Revenue Model, Web Sales, Channel Sales, Direct Sales, etc.

Conclusion:

So, choose a comprehensive platform to build a powerful all-inclusive streaming platform and grow your digital streaming business with the world’s leading OTT platform providers for successful business goals.