OTT platforms have gained massive popularity in recent years, especially due to the Covid era. Users nowadays, majorly prefer on-demand online video streaming as their mere source of entertainment. Platforms like Netflix and Amazon Prime have attained massive traction considering their content quality and user-centric streaming experiences. To create such immersive apps, you need a competitive strategy plan and must partner with a trusted mobile app development company. This comprehensive guide will talk about importance, development steps, and cost of building an OTT application.
A recent study by Forbes stated that the global online video streaming market is estimated to grow over $247 billion by 2027. This study shows that the demand for OTT platforms is set to rise at a rapid pace in the coming future. Considering the statistics, here’s why you should invest in OTT app development.
- OTT apps are the future of tomorrow
Witnessing the growing demand of online video streaming, it’s obvious that more and more users will prefer OTT platforms to attain entertainment from the comfort of their homes. Instead of sitting in a PVR to watch a movie and spending a considerable amount of money, users now prefer watching it while sitting at home. For instance, if a movie is released in cinema, there might be low numbers of watchers as compared to the same movie released over Netflix.
- Higher Revenue Generation
Since OTT apps are in high demand, many businesses are looking to create these apps and it is actually a great opportunity to generate higher revenue. Seek assistance from a reliable mobile app development company to create a customized and immersive OTT app similar to Netflix. Investing in such apps will help you reach a wider audience and directly impact your revenue graph.
Step 1: Conceptualization and Market Research
Prior to beginning the application developing process, characterizing the application’s idea and main interest group is pivotal. Direct intensive statistical surveying to distinguish expected contenders, grasp client inclinations, and examine market patterns. This step will assist you with recognizing interesting selling focuses for your application and foster a powerful marketable strategy.
Step 2: Choose the Right Development Platform
Now you can choose the development platform. Whether you need to create the application for iOS, Android, or for both the platforms. Every platform has its own set of tools, languages, and necessities. Consider your target audience and budget while settling on this choice.
Step 3: Determine Features and Functionality
Frame the center highlights and functionalities of your OTT versatile application. Normal elements incorporate substance perusing, search choices, client profiles, playlists, and message pop-ups. Also, think about coordinating social sharing and suggestions to empower customer loyalty.
Step 4: Content Acquisition and Management
The progress of an OTT application to a great extent relies upon its substance library. Get the privileges to quality substance, whether through direct authorizing or associations with content suppliers. Carry out a substance the board framework (CMS) to effectively coordinate and order the substance.
Step 5: UI/UX Design
Make a natural and outwardly engaging UI (UI) to convey a consistent client experience (UX). Focus on route, text style decisions, variety plans, and media components. A simple to-explore application with a stylishly satisfying plan will keep clients drew in and empower maintenance.
Step 6: Backend Development
The backend is the foundation of your OTT mobile application. It includes setting up servers, data sets, APIs, and content conveyance organizations (CDNs). Make sure to hire a reliable backend development company to create a powerful backend that can handle the application’s growing client base and content demand.
Step 7: App Development
During this stage, the actual coding and improvement of the OTT mobile application occur. Use programming dialects and systems reasonable for your picked platform(s). Influence existing libraries and instruments to accelerate advancement and guarantee application solidness.
Step 8: Testing and Quality Assurance
Completely test your application on various gadgets and working frameworks to distinguish and fix bugs and errors. Perform ease of use testing to measure client responses and input. Lead both alpha and beta testing with a select gathering of clients prior to sending off the application freely.
Step 9: App’s Monetization Strategy
Decide how you will adapt your OTT application. Normal adaptation models incorporate membership plans, pay-per-view choices, in-application buys, and notices. Pick a procedure that lines up with your application’s substance and interest group.
Step 10: App Launch and Marketing
Once the application is completely tried and prepared, submit it to the separate application stores (Apple Application Store and Google Play Store). Make a convincing application depiction, use eye-getting application screen captures, and streamline for application store search (ASO). Execute an exhaustive promoting system to arrive at your ideal interest group and lift application downloads.
If we talk about the average cost estimation, then a complex, feature-rich OTT app development will cost you around $5,000 to $45,000. However, these are just random cost figures and to get an actual estimate, you must partner with a professional mobile app development company. There are also several factors that affect the mobile app development cost. The factors include:
- App’s Features and Functionality
The custom features and functionalities added into your app will ultimately add up to the final estimation. The more complex features are, the higher will be the cost of development.
- Location and Experience of Mobile App Development Company
The geographical location and expertise of the mobile app development company will majorly impact the cost of development. If the company is located in the USA or UK, the cost will be higher as compared to ones located in India.
- Development Platform
Cost of development will also be impacted by your chosen development platform. If you choose native development, the cost will be higher for separate apps built on Android and iOS. However, cross-platform development can be a cost-effective solution. The cross-platform app development will leverage platforms like Flutter, ReactNative, Xamarin to create your app.
- Tech Stack for App Development
The tech stack used for your OTT mobile app development project will somehow impact the final cost. Ensure to hire a professional app development company that has extensive expertise with multiple tech stacks and can leverage them to build a custom app for your business.
OTT apps are the future of the entertainment industry and are set to bring an evolution in redefining how we access movies and other video content. With such a rise in demand for these apps, many businesses are continuously looking to develop a unique OTT app for their business that sets them apart from the competition. This guide concludes the importance, steps and cost of developing an OTT application. It is also recommended to partner with a professional mobile app development company to ensure your app drives success and generates higher revenue.