A perfect Friday night is all about watching the latest series and having your favorite pizza, isn’t it? A decade ago, the entertainment world was all about watching movies on television, but not anymore. Thanks to the OTT platform, which has taken over the entertainment world and brought about a new revolution for the audience.

According to VPlayed, the global OTT user base will increase to 3.71 billion in 2024 from its current count of 3.50 billion. The expected overall revenue from OTT platforms worldwide will reach $295.40 billion, with an estimated surge to over $476 billion by 2027.

As the data highlights, the expansion of the OTT market showcases how individuals and companies can enter it and generate significant revenue. We have a complete guide if you are considering building an OTT platform.

OTT App Development: Why is it a Perfect Time to Build Your Own OTT Application?

According to the report by Statista, Revenue in the OTT Video market worldwide is anticipated to reach US$343.82bn in 2025. The revenue is expected to demonstrate an annual growth rate (CAGR 2025-2029) of 6.56%, leading to a projected market volume of US $443.29bn by 2029.

This reveals that people now prefer OTT platforms as their go-to entertainment. OTT marketing is undergoing abundant expansion as people prefer reliable mobile applications.

These mobile applications also give viewers flexible viewing opportunities and enhance their viewing experience. Viewers are constantly attracted to these mobile applications as they provide personalized watching experiences with incredible UI. So, if you want a sign to build your OTT application, continue reading the article.

OTT App Development: Building Your Dream OTT Platform from Scratch

There has been a significant shift towards engaging and interactive video platforms in the global video market. While there are websites providing video content to viewers, audiences prefer to stick to mobile OTT platforms because of better UI, flexibility, and convenience. Moreover, they also avoid getting unwanted ads.

Now that you know how OTT marketing is expanding and becoming profitable, let’s understand how to build your dream OTT platform from scratch.

1. Understand Your Niche

Before starting, you must define the type of content you want to produce and deliver, whether you are looking to provide original movies and TV shows, live sports matches, or music concerts. Defining your niche and understanding your content style is one of the key steps that every OTT platform should consider.

Another significant consideration for building an OTT platform is the target audience. Identify your target audience, such as whether the OTT platform will be for movie enthusiasts or sports lovers. Learning about the target audience will open up more opportunities and allow you to expand in the right direction.

2. Choosing the Right App Development Company

You need to choose a good app development platform, like TechRev, that understands your vision and creates the right application for you. Building an OTT platform requires expert guidance, which is proficient in building a platform that is not only easy to operate but also delivers an incredible user experience.

Building an application is not a one-day task but requires constant collaboration with the team, incredible communication, and regular checkups. Once your application is billed, the app development company must be able to handle the potential technical issues that may arise occasionally.

That’s why choosing the right app development company becomes necessary, as it will help you build the interactive platform and cooperate to give the user the right experience.

3. Select the Payment Modal

When building an online streaming platform, it is necessary to add everything carefully. While customers enjoy watching TV shows and web series on OTT platforms, businesses must develop tailored solutions for monetization.

An OTT platform should offer a different payment gateway so that the customer has multiple options. By offering multiple options, the customer has the flexibility to choose the best one for them. To ensure smooth transactions, integrate payment gateways and billing systems.

4. Check Cross-Platform Compatibility

To Make your OTT platform more convenient, try to make it compatible with other streaming platforms and devices. According to data, most users stream through phones, so developing an Android and iOS-compatible application becomes necessary for subscribers.

Additionally, other devices like laptops, tablets, and even smart TVs are used for streaming movies and shows. That’s why it has become necessary for the OTT platform to develop an all-in-one application. This will increase the number of viewers and allow users to switch between different platforms, ultimately enhancing the customer experience.

5. Mandatory Test Run

Before finalizing the product launch, ensure the app has been tested. This ensures the platform works flawlessly and avoids potential issues after the launch. Additionally, ensure that the platform works under every condition, i.e., ideal or non-ideal, to ensure the system is working perfectly and not facing any glitches.

This further improves the application’s performance after its launch, allowing users to have a high-quality experience and improving the platform’s overall usability.

6. Promoting the Platform After Launch

After all the development testing, what comes next? The D-day. However, make sure that you prompt the application before the final day. With digitalization, new applications are getting over the internet, making their space and identity among people. Plan a marketing strategy to create talks in the market and attract new users to your platform.

According to a report by Statista, as of 2023, Facebook and Instagram were the social media platforms with the highest return on investment (ROI), according to global marketers. This highlights the rapid growth of social media marketing among businesses.

You can further use targeted advertising, google ads, and influencer partnerships to increase brand awareness and bring new users. However, marketing should continue even after the launch because you need new users forever, right?

You may also like to read: How to Save Big on Your Dream App Development?

Conclusion

The OTT market is constantly growing and expanding worldwide. Multiple online streaming platforms are targeting a large number of audiences and generating incredible returns. It is a good investment plan.

Right now, TV channels are also seeking custom apps for their streaming platform. While we have mentioned all the points required to create a successful application, having a good custom web application company can solve most of your problems. If you are looking for a trusted custom app development company, we are here.

TechRev is a leading US custom software application company that has successfully built many applications and has been serving big companies. To know more about it, contact us and get all the information.

Frequently Asked Questions

1. Can I make money from my OTT platform?

Yes, it’s easy to generate profit from a TTplatfm.Currently, there are many platforms, like Netflix, Amazon Prime Video,and Hulu, that are making profits by serving streaming services.

2. How much does it cost to build an OTT platform?

Building an OTT platform has a different price structure. It mostly depends on your vision and requirements. The development cost can start at thousands of dollars and go up to millions.

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An Ultimate Guide for Creating an OTT Platform from Scratch