The entertainment industry has been through a lot of changes through the years, but it has recently entered its most transformative time to date – the development of streaming. Streaming video content shows no signs of slowing down, and this has so much commercial potential for every single industry. Whether you’re in entertainment, education, media, healthcare or something else, the question is less one of should you create a streaming service, but more about when you should do it.
But how do you create a streaming service like Disney+ or Netflix? Understanding the intricacies of these major players’ user experiences and content libraries takes some work. Getting to grips with ott services is so important, and once you get into the thick of it it can be a much simpler process than it originally seems.
Here Are Some Tips To Create A Streaming Service
Plan your content
The first thing you need to do is to work out what kind of content you want to make. Choose a niche and use it to set the tone of your app and grow your audience. It should determine the content you are sharing and help you create a clear, engaging brand. Once you have a nice down, make sure your content is planned well in advance. Whether it is educational or entertainment, work hard to keep it engaging for your audience.
Create as much quality content as you can and work out some technical details such as the length of your videos, how many you will be putting out and how often.
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Choose a revenue model
Choosing the correct revenue model for your streaming service is an important decision. There are three main revenue models to choose from, and each has its own pros and cons.
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- Advertising: If you have the audience for it, advertising can be a lucrative source of revenue. If you’re able, offer analytics and targeted adverts to increase the value of your ads, and let companies measure and market their own campaigns as they see fit.
- Subscriptions: Some of the most successful video streaming services such as Amazon Prime and Netflix have taken over the market because of their use of ad-free subscription services. Charge your customers a monthly fee and provide them with fresh, exciting content. This may be a more difficult revenue model for a small business who do not yet have lots of content or much of a well-known market presence.
- Pay-per-view: There is also the pay-per-view (PPV) model, which is also called transactional-based video on demand (TVOD). In this model, customers can pay a one-off fee to have access to content for a certain length of time of a pre-determined number of views.
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Choose a video hosting solution
To create a streaming service that is both functional and aesthetically pleasing, choosing the right video hosting solution is so important. If you have the know-how, you could decide to host your content on one of your own servers, however, this takes a lot of specialized knowledge. If you’re a small business, it might be a great option to partner with a specialized streaming hosting technology company. An all-in-one Online Video Platform (OVP) gives smaller companies an out-of-the-box solution to sharing their content. However, do be aware of the limitations of a solution like this one, as it may not be well suited to your business.
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Summary
Ideally, when you go to build your streaming service for hosting your content you will have an existing idea of the kind of content you want to make. Plan this content, work out how to host your video and decide on an appropriate revenue model, then see the success that comes from your OTT app.
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