Suppose you’ve decided to create an OTT streaming service. Then, what’s next? An essential part of your OTT business plan is choosing the right OTT platform to run your video streaming business.
The solution you select will define how you operate, as they all have different feature sets and capabilities. You can find solutions for live streaming, streaming software developed for educational institutions, or OTT platforms for tech-focused companies.
Ensuring the best viewing experience for your audience is vital, and the tech-oriented solution can help you with that. For example, NimiTV delivers content from Albania to the Europien countries and Australia, and its customers can smoothly watch Albanian TV live on any device.
So, basically, you should understand your business goals for a start. This will help you define which solution you need. However, we think it’s important to dive deeper into the topic. Let’s observe.
How to Choose the Right OTT Platform?
Here’s the list of things that are better to consider:
#1 Monetization
Monetization is the primary goal of a video streaming service. For this reason, check if the solution you want to obtain has monetization functionality. Video streaming services usually capitalize on the following monetization models:
- A viewer purchases a monthly or yearly subscription to get unlimited access to your video library. After the paid period ends, people can cancel or renew their subscriptions. It usually ensures a steady stream of revenue.
- In this case, videos are usually free of charge for viewers, and a content provider makes revenue by running commercials on their videos. Thanks to targeting functionality, viewers might watch ads with products or services they might be interested in.
- Pay-per-view. This model allows viewers to pay only for a video they want to watch at the moment. Also, providers may permit downloading content on users’ devices.
- A hybrid monetization model is a combination of several approaches described above. For example, you offer viewers to watch videos with commercials or remove them by paying for a subscription. It is up to you to decide how to mix several models.
#2 Encoding/transcoding
Encoding and transcoding are vital for smooth video delivery and ensuring a great viewing experience. Encoding is the process of compressing a large video file into more manageable chunks that are more suitable for transmission through the Internet.
Transcoding is making multiple copies of a video file in different sizes and bitrates. The purpose is to meet the requirements of a receiving device.
#3 Customization
Customization is using your design elements to convey the look and feel of your brand idea. Such functionality will help you stand out from the competition.
#4 Scalability
When the number of your subscribers grows, the OTT solution should be able to handle an increased load. It should utilize a powerful CDN (Content Delivery Network) that is able to adapt to audience growth. CDN is a network of servers distributed geographically around the world.
These servers store a cached copy of your content. As a result, viewers request data from the server located closer to them instead of the origin server. This speeds up the delivery process. CDN will help you transmit video content to viewers globally, ensuring a smooth viewing experience.
It is a powerful tool, especially during peak hours. CDN draws more resources when the number of users on your service increases and scales down when so many resources are not necessary.
Final Thoughts
These are just a few things that can be essential when choosing the right OTT platform. However, you may also need real-time analytics, a recommendation engine, applications, and many other things. Check if the solution for streaming has everything necessary for your business.
