Statista revealed that ‘’the number of SVOD households globally will be projected to grow to 450 million in 2022 alone.’’
The OTT world has changed the way anyone views online entertainment.
With access to original content, single sign-in and affordable deals, the OTT world is offering the convenience the online digital platform is expected to offer.
Thus to offer further convenience on the same, the creation of the OTT streaming app became a popular hit amongst entertainment lovers.
Thus taking advantage of this opportunity, video content owners can benefit from this convenience by creating an OTT subscription app.
There is a reason why multiple video content owners prefer to create an OTT subscription app. While driving revenue is one factor, providing valuable content in a cost-friendly and straightforward manner is another.
So, to help you understand this better, this blog covers everything you need to know about the benefits of the OTT subscription app and how you can create robust subscription video-on-demand services.
4 Reasons To Create OTT Subscription App
1. Easy To Use
With an OTT subscription app, you can exhibit the VOD content library with a single click for your users. Users can conduct multiple actions based on the features added, such as download offline videos, view these video content without any internet, like videos to see later, etc.
2. Free Trials
The purpose of free trials is to help users understand your product before investing. This rule also applies to your OTT platform. Providing a free trial option increases your chances of capturing loyal users on this platform. The free trial period lets users explore your OTT subscription app better, engage with it and do more to decide to invest.
3. Own Subscription Services
The OTT subscription app lets users take charge of the payment methods. Users can easily extend or reject their subscription services to the platform with a single click. This opportunity allows your user to return to your platform as not many OTT platforms provide this leverage to users.
4. Diverse Video Options
Lastly, the diverse video options to choose from are the perks of having a subscription video-on-demand platform. Users can explore fresh VOD content from anywhere without paying an extra price. Since content is regularly updated, user attention is always captured.
5 Industries That Benefit The Use Of OTT Subscription App
1. Content Sector
The content creators can benefit from the OTT video subscription app since they can create content that can help them connect with their users better. Most content creators share different forms of content such as short films, fitness advice, etc.
2. Health Sector
The health sector can benefit from OTT platforms to help educate more viewers about the factors of maintaining a healthy life. Users can easily subscribe to this OTT platform and access multiple sections that can enhance their daily healthy life.
3. Business Sector
The business sector can enjoy the perks of an OTT streaming app by driving revenue. They can host seminars, have discussions and share the same with their target audience. Apart from this, top corporations can even exhibit their product in a video format to help understand the USPs of the former better.
4. Educational Sector
The educational sector can share multiple education facts and information via the app. This will help students to access necessary details related to their academics better. This sector can highly benefit from this OTT video subscription app since education is available with a single click.
5. Entertainment Sector
Lastly, as stated earlier, the entertainment industry can also benefit from the OTT subscription app. Filmmakers who wish to create short films and exhibit the same to users can do so with a single upload.
4 Steps To Create OTT Subscription App
1. Analyze Your Video Content
The first step to building an OTT subscription app is to analyze what type of content you wish to exhibit on this OTT platform. What type of content your product is all about, what is the main USP, and who is your target audience? etc.
2. Manage Your VOD Content
Once you’re clear with the first step, you need to manage all of that content on the basis of multiple categories such as genres, exclusive content, etc. Using a CMS can help align your VOD content better.
3. Select The Right Business Model
Once done, it’s time to understand how you can drive your revenue from this OTT platform. There are multiple payment options available such as subscription, pay-per-view, etc. The most common one is subscription-based since most video content owners allow their users to pay for their content based on a time such as weekly, monthly or yearly.
4. Invest In An OTT App Provider
Lastly, it’s time to decide how to build the OTT app. Investing in an OTT app provider offering multiple features that can enhance and scale your OTT video subscription app with time is always better.
Conclusion
A video subscription site can derive more revenue due to the ease this OTT platform can offer to multiple users.
In today’s world, everyone expects the online digital platform to provide a sense of simplicity and ease to access anything, including how entertainment is accessed.
While you’re now aware of the perks of the OTT video subscription app, it’s time to create one yourself.
Instead of having to conduct OTT app development from scratch, it’s better to engage with an OTT app builder that will help you create, enhance and scale your OTT subscription app better.
So, tell us when do you plan to get started?
