The smart TV industry has been rapidly growing in recent years, with more and more consumers turning to connected TV devices for their entertainment needs. As a result, the demand for smart TV apps has also increased significantly. If you’re running a smart TV app business or planning to start one, scaling up your business is crucial to keep up with the competition and stay ahead in the market.
To scale up your smart TV app business in 2023, you need to focus on several key areas such as product development, user acquisition, marketing, and monetization. By implementing the right strategies and techniques, you can increase your app’s visibility, user base, and revenue potential.
And in this blog, we will guide you through how you can grow your smart TV app business in 2023 and beyond. But first, let’s start from the basics.
Smart TV apps refer to software applications that can be installed and run on smart TV sets to offer various services and functionalities to the users. These apps can provide access to a variety of content, including movies, TV shows, music, games, and social media, among others. With the growth of streaming services and the increased use of mobile devices, smart TV apps have become an essential part of modern television sets, providing users with an all-in-one entertainment hub.
Some of the popular examples of Smart TV apps are Netflix, Hulu, Amazon Prime Video, and Disney+, which offer a wide range of movies and TV shows on demand. These services have revolutionized the way people consume entertainment, providing instant access to thousands of hours of content without the need for traditional cable TV subscriptions.
In addition to streaming services, there are also many other types of Smart TV apps available, including news apps such as CNN and BBC, and sports apps such as ESPN and NBA Game Time. These apps offer users real-time updates on the latest news, sports events, and social media trends, making it easy for the users to stay connected with the world around them.
The demand for Smart TV apps has been steadily growing in recent years, with more and more consumers adopting smart TV sets as their primary source of entertainment.
One of the main reasons why now is the best time to grow your Smart TV app is that there is a huge market for these apps and the growth scope is spiking fast. According to a recent market report, the global Smart TV market is expected to reach US $451.26 billion by 2030, with a CAGR (Compound Anual Growth Rate) of 11.4% from 2023 to 2030. This growth is driven by the increasing popularity of streaming services, as well as the availability of affordable Smart TV sets.
While there are some big players in the Smart TV app market, such as Netflix and Amazon Prime Video, there is still plenty of room for smaller companies and developers to make a name for themselves. By offering innovative and unique Smart TV apps, businesses can differentiate themselves from the competition and attract a loyal user base.
Furthermore, the development of Smart TV apps has become easier and more accessible in recent years. There are now a variety of software development kits (SDKs) available that make it easier for developers to create Smart TV apps for different platforms. These SDKs offer pre-built templates, libraries, and tools that can help speed up the development process, allowing businesses to get their apps to market more quickly.
More importantly, you can opt for a quality platform provider like Muvi One, to launch your own branded smart TV app easily even without needing to code at all!
Now that you have a clearer idea on why now is the best time to grow your smart TV app business, let’s walk you through the top strategies to accomplish it.
The quality of your content is critical to the success of your Smart TV app or channel business. Producing engaging and informative content will attract viewers and keep them coming back for more.
One way to ensure high-quality content is to invest in production value, including hiring talented writers, producers, and on-camera talent. It’s also essential to stay up-to-date with industry trends and consumer preferences to produce content that resonates with your target audience.
Conducting market research is a crucial step in growing your Smart TV app or channel business. This involves gathering information about your target audience’s preferences and needs, as well as identifying opportunities for growth and differentiation.
Market research can be done through surveys, focus groups, and social media listening. By gaining a deep understanding of your target audience, you can tailor your content to meet their needs and preferences and differentiate your business from competitors.
Developing a strong brand identity is pivotal to the success of your Smart TV app or channel business. A strong brand can help you stand out in a crowded market, build trust with viewers, and increase the value of your content.
Your brand identity should reflect your unique value proposition, including your content, target audience, and mission statement. Building a brand involves creating a consistent visual identity, including logos, graphics, and color schemes. It’s also essential to develop a clear messaging strategy that communicates your brand’s value to viewers.
Social media is a powerful tool for growing your Smart TV app or channel business. By leveraging social media platforms like Facebook, Twitter, and Instagram, you can increase brand awareness, engage with viewers, and drive traffic to your content.
Social media can also be used to promote new content, engage in real-time conversations, and gather feedback from viewers. It’s essential to develop a social media strategy that aligns with your overall marketing objectives and engages with your target audience.
Also read: Top smart TV ecosystems to be leveraged by streaming businesses
Search engine optimization (SEO) is mandatory to grow your Smart TV app or channel business. By optimizing your content for search engines, you can increase the visibility of your content and attract more viewers.
This involves using relevant keywords in your content, optimizing your titles and descriptions, and building high-quality backlinks to your content. It’s also essential to stay up-to-date with the latest SEO trends and best practices to ensure your content is easily discoverable.
Creating a strong community of viewers is critical to the success of your Smart TV app or channel business. By fostering a sense of community, you can increase engagement and loyalty, attract new viewers, and generate valuable feedback.
This can be done through various tactics, including social media engagement, community events, and user-generated content. By building a strong community, you can create a network of loyal viewers who will help promote your content and drive growth.
Optimizing user experience (UX) can do wonders to grow your Smart TV app or channel business. By providing an attractive and user-friendly template, you can ensure a better UX.
It is important to ensure that your Smart TV app has an intuitive interface, easy navigation, and responsive design. This will help keep viewers engaged and ensure that they return for future content.
There are various monetization strategies, including advertising, subscriptions, and sponsorships. Advertising involves displaying ads alongside your content. Subscriptions imply charging viewers a fee to access exclusive content while sponsorships involve partnering with brands to promote their products or services to your audience.
It’s important to choose a monetization strategy that aligns with your content and target audience. It’s also essential to track and analyze your monetization strategy’s effectiveness to ensure that it’s generating revenue and providing value to your viewers.
Collaborating with other channels or platforms is an effective way to grow your Smart TV app or channel business. By partnering with other content creators or platforms, you can increase exposure and reach new audiences.
This can be done through co-producing content, cross-promotion, and guest appearances. Collaborating with other channels or platforms can help diversify your content and increase your brand’s visibility.
Experimenting with new formats and technologies can help you stand tall in this competitive market. This can involve exploring new content formats, such as interactive shows or virtual reality experiences.
Also, you can leverage new technologies, such as artificial intelligence or machine learning, to enhance the viewer experience. Experimenting with new formats and technologies can help you stay ahead of the curve and provide innovative content to your target audience.
Emphasizing accessibility is important to grow your Smart TV app or channel business. By ensuring that your content is accessible to all users, including those with disabilities, you can increase engagement and reach a wider audience.
This can involve adding closed captions to your content, providing audio descriptions, and ensuring that your interface is user-friendly for those with visual impairments. Emphasizing accessibility can also help you differentiate your brand and build a reputation for inclusivity.
Using analytics helps you in growing your Smart TV app or channel business as per your goals. By tracking and analyzing viewer engagement, you can gain insights into viewer behavior and preferences, and adjust your content and marketing strategies accordingly.
This can involve tracking metrics such as watch time, engagement rates, and audience demographics. By using analytics, you can make data-driven decisions that optimize your content and marketing strategies for growth.
Building relationships with advertisers and sponsors helps you in monetizing your Smart TV app or channel business. By partnering with brands that align with your content and target audience, you can generate revenue and provide value to your viewers.
This can involve reaching out to brands directly, or partnering with an advertising network. Building strong relationships with advertisers and sponsors can also lead to long-term partnerships and increase the value of your brand.
Utilizing email marketing and other outreach strategies is an effective way to promote your Smart TV app or channel business. By building an email list and sending regular newsletters, you can keep viewers engaged and informed about new content and promotions.
Other outreach strategies, such as influencer partnerships and event sponsorships, can also help increase exposure and build brand awareness. It’s important to develop a comprehensive outreach strategy that aligns with your overall marketing objectives and targets your key audience segments.
No matter whether you have already launched your smart TV app or channel or are planning to grow it further, it is crucial to ensure that you have opted for a quality platform provider. Muvi One, an all-in-one OTT platform provider, can not only help you build your smart TV app easily but lets you scale it up seamlessly.
Muvi One supports more than 13 environments including Android TV, Apple TV, Fire TV, Samsung Tizen, and Roku, to name a few, and offers a bunch of market-driven solutions like –
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To name a few.
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The quality of content is crucial for a Smart TV app’s success. Users expect high-quality video, audio, and visual content to ensure a seamless viewing experience.
Smart TV app monetization strategies include subscription models, in-app purchases, and advertising. Developers can also partner with content providers to earn a commission on content sales.
The key features of a smart TV app include an intuitive user interface, easy navigation, personalized recommendations, search functionality, and support for multiple languages and devices, to name a few.
The time it takes to develop a smart TV app depends on various factors such as app complexity, features, and development platform. Generally, it takes around three to six months to develop a basic smart TV app, while more complex apps can take up to a year or more.
However, with Muvi One’s no coding solution you can build and launch your own branded smart TV app in the fastest time possible, even without writing a single line of code!
Written by: Ishita Banik
Ishita is a Content Writer with Muvi Marketing Team. Apart from business writing, she is also an acclaimed author of three best seller romantic thriller novels. In 2020, she got featured in The Hindustan Times, a leading news portal as an inspirational Indian author.
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