Did you know, there were 106 million monthly active users of Netflix app only for the Android ecosystem as of January, 2022? While the monthly active users of Netflix on iPhone and iPad combined was worth 115 million as of June 2021!
This is nothing but a glimpse of the enormous OTT app industry that is growing rapidly, making the leading OTT apps like Amazon Prime, Hulu, Spotify, Hotstar and others take the centrestage of the entertainment economy.
With this rising trend of watching OTT content among the viewers, OTT apps segment has become a lucrative target for businesses. The global OTT market was worth US $44.54 billion in 2021 and is projected to reach US $139 billion by 2028 and OTT apps itself hold a significant portion of the market. With many OTT apps getting introduced in the global OTT industry, the competition is getting harder. So, just developing an OTT app is not enough anymore, you need to come up with the one with the best of the features/solutions to strengthen your position in the market. In this blog we will discuss the features of a best-in-class OTT app, so that you can have a clear idea on exactly what qualities/features/solutions are must-have for a sound OTT app.
A robust video/audio hosting solution implies – it is highly customizable, includes a quality CMS (Content Management System) and offers high bandwidth with impenetrable security features. The streaming quality, how smoothly you can host/manage video/audio content, and the overall user experience majorly depend on how good the video hosting solution is. If you are launching your OTT app through any OTT service provider, then ensure that they offer a hosting solution that has all these qualities in-built. To know more about the features of a good video hosting platform, read our blog – How to Choose the Right Video Hosting Platform?
Be it an iOS OTT app or Android, multi-device compatibility is a must-have feature for a good OTT app. For instance, a top-rated OTT app must support all range of devices in both Apple & Android ecosystem such as iPhone, iPhone Plus, iPad, iPad Pro, Android mobiles, tablet devices, and other smart devices of various screen sizes. This will also ensure the overall positioning of your app in the market and leverage both Apple and Android ecosystems. To give an estimation, according to a recent report, the Apple app store facilitated US $643 billion in billing and sales worldwide in 2020, a US $124 billion rise from 2019. The Android app development ecosystem is one of the most lucrative areas to explore for your OTT app.
Developing and launching an OTT app is definitely the main task, but what about support, maintenance, and update? These three are the main areas that keep an app running, up-to-date, efficient, and bug-free. No matter whether you are building an OTT app from scratch or launching it through any OTT service provider, you must ensure that 24/7 support, system update, and seamless maintenance are in-built features of the OTT app to ensure hassle free usage.
Also Read: How to Create an Apple TV App?
Supporting multiple monetization models is of utmost importance for any OTT app. Some of the most popular OTT monetization models are –
In this model, the viewers take a subscription to your OTT app to have access to all the streaming content on your platform. Example: Netflix, Hulu etc.
In the AVOD monetization model, you can earn from the pre-roll, mid-roll, and post-roll advertisements placed on your video content. Example: Roku apps
TVOD implies a transactional monetization model, where the viewers only pay for what they watch. Instead of taking a monthly/yearly subscription for all content, they can pay or rent any specific content they will like to watch. This model is also known as PPV (Pay Per View) model. Example: Amazon’s video store
AVOD/SVOD and TVOD/SVOD are two common hybrid monetization models where along with taking subscriptions, viewers can get the options to pay per view/rent as well as watch ad-supported content. Example: Amazon Prime has a TVOD/SVOD model, where apart from taking subscriptions, viewers can also buy/rent individual movies.
The AirPlay App Development feature of an OTT app can take the iOS customers’ viewing experience to the next level. This feature enables viewers to airplay OTT video content on their big screens connected via Apple TV OTT App Development easily! This feature is highly sought-after among iOS users not only for better streaming experience over big screens, but also for factors such as can play across longer distances between devices, better streaming quality compared to bluetooth, and others.
An OTT app that is equipped with Chromecasting solution can easily let the users stream the video content on their Chromecast connected TVs and screens in a hassle-free way. No doubt that this improves the customer viewing experience drastically.
In order to make an OTT app more competitive and engaging, you need to equip it with top-notch features that can enhance the overall streaming experience of users as well as let you utilize the enormous potential the streaming industry holds. We sincerely hope that the above pointers will help you better your search or improve the overall quality of your OTT app.
If not, you always have us at Muvi! With Muvi you can opt for the industry-grade OTT service provider that lets you launch a quality OTT app in the shortest time frame possible. Your own branded OTT app with advanced features, to real-time analytics – Muvi offers an all-in-one solution to excel in the global OTT marketplace.
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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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