Running an OTT video streaming platform can be incredibly rewarding, but the industry is competitive, and there’s always room to grow. Perhaps your platform is already performing well, delivering quality content to a loyal audience, but you’re looking to take things further. Whether your goal is to increase revenue, attract more viewers, or diversify your offerings, there are proven strategies to help you achieve success.
In this article, we’ll explore proven methods to take your OTT platform to the next level. Let’s get started!
1. Diversify Your Monetization Models
The right IPTV middleware can provide multiple monetization options, each catering to different audience preferences:
- AVOD (Advertisement-Based Video-On-Demand): Revenue is generated through ads shown during playback. While content is free for viewers, third-party advertisers pay to reach your audience.
- SVOD (Subscription-Based Video-On-Demand): Users pay a recurring fee, usually monthly or annually, for unlimited access to your library.
- TVOD (Transactional Video-On-Demand): Viewers purchase access to individual content on a pay-per-view basis.
To maximize your platform’s earning potential, consider combining these models into a hybrid monetization approach. For example, alongside a subscription model, you could offer premium pay-per-view content such as exclusive releases, live events, or specialized programs that aren’t included in the subscription. Similarly, integrating an AVOD tier for non-subscribers can capture additional revenue from viewers who prefer free content.
Hybrid monetization not only diversifies revenue streams but also enhances flexibility for users, catering to varying budgets and content preferences. This approach allows you to attract a broader audience while encouraging higher engagement and retention across different user segments.
2. Launch OTT Applications
If your platform is currently accessible only via a website, adding OTT applications can unlock new opportunities. Apps offer seamless access across devices, enhancing the user experience and boosting retention rates.
OTT applications enable content streaming on:
- Smartphones for on-the-go viewing, whether users are commuting, waiting in line, or relaxing in a café.
- Tablets for a larger screen experience without sacrificing portability.
- Smart TVs for a premium viewing experience in Full HD or 4K resolution.
By making your platform accessible via apps, you’ll meet your audience wherever they are and improve content accessibility, leading to higher engagement and potentially increased revenue.
3. Expand to New Markets
If your platform serves only one country, consider expanding internationally. Using a Content Delivery Network (CDN) ensures smooth video streaming across borders without lags or interruptions.
When expanding, decide on your target audience:
- Same-language audiences in new locations: If you’re targeting viewers who already speak your language, a CDN software implementation might be all you need.
- Different-language audiences: For this audience, consider subtitling and localizing your content to cater to their preferences and ensure they fully understand your offerings.
Expanding to new markets can help you unlock additional revenue streams while establishing your platform as a global player.
Conclusion
An OTT video streaming platform is a profitable business with ample opportunities for growth. By diversifying monetization models, launching OTT apps, or expanding into new markets, you can tap into its full potential.
Experiment with these strategies, combine them where appropriate, and watch your platform thrive!
