OTT App Or Platform Development Cost – Features & Trends

If you've heard of the Amazon Fire Stick, Apple TV, Netflix, Hulu, or SlingTV, you already have a good idea of what OTT stands for. Many TV viewers are gradually moving away from traditional broadcasting and toward over-the-top (OTT) services. Most media companies are openly embracing the change, as it appears to be unavoidable.

The estimated cost of OTT app or platform development will be around $25K to $50K.

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Movies, television shows, and instructional videos are no longer limited to a single format or device. Consumers want to be able to access content whenever, wherever, and on any device they want. As a result, the bar for content creators is raised. It's no longer enough to be visible and accessible on a single platform. You must be able to reach your target audience via any channel they prefer.

In fact, upcoming business owners are more concerned about the OTT application development cost.

Market Stats Of OTT App Or Platforms

• OTT media revenue was USD 67.8 billion and is expected to reach USD 158.84 billion by 2024, according to Statista.
• According to another Statista report, Netflix is the largest OTT provider in the world, with more than 150 million paid subscribers.
• User penetration of video streaming is expected to reach 6.2 percent by 2025, according to Statista.
• OTT video market will reach US $294.90 billion by the end of 2023.
• The projects market volume of OTT will reach US $397.20billion by 2027 with the annual growth rate of 7.73% annually.
• OTT video advertising volume of market will be US $176.60 billion by the end of 2023.
• US wll generate the maximum amount of revenue from the OTT platform which is approximate US $126,500.00 million in 2023.
• The total number of users on the OTT video market will be about 4.22 billion in 2027.
• In 2023 the OTT platforms will have the user penetration of 45.7% and will hit 53.0% by 2027.
• Average revenue generated from the OTT video market is projected to reach US$84.08 in 2023.

Source: Statista

OTT is found in over 51% of homes in the United States and is used for an average of 100 minutes per day.

But the story doesn't end there. OTT is on a mission to dethrone TV cables as the preferred video streaming platform.

As a result, there's a good chance you'll start using it.

So, here it is, the big reveal.

OTT Platform Development Cost In India

If you’d prefer a more hands-off approach, hiring a mobile app developer in India might be a great option to build your own OTT platform.

There are plenty of Indian-based OTT development companies and freelancers who specialize in creating OTT platforms. Hiring these professionals to create your own unique OTT platform from scratch and per current market scenarios would be a great idea to go with.

On average, the OTT application development cost in India is below:

• In India, OTT apps cost between $25,000 and $60,000 Netflix and Prime Video Like Apps.
• The Cost to make an OTT platform like HotStar would be ~$35000.
• If your platform consists of hybrid features (Youtube + OTT), the cost in India would be approx $50,000.
• It may take three to six months to complete.
• Readymade OTT app would take 3 to 5 days to go live.

Check our table below to get an estimated idea of cost as per the type of OTT platform.

The table depicts the average OTT application development cost in India. Connect with our experts if you want to create an OTT platform development platform and need an exact OTT platform development cost. Our development team will evaluate your project requirements and share a customized quote ASAP.

Keep scrolling, you will get answers to all your questions like;

• How to start an OTT platform in India?
• How to create an OTT platform for free?
• How to develop an OTT platform?

Before that, understand what an OTT app is.

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What Are OTT Apps? 

OTT is an abbreviation for "over-the-top." So, it's a mechanical concept that allows you to stream video. As a result, through the internet, you can directly stream videos, audios and other content on your device easily. You also won't need a satellite or cable subscription. Furthermore, all you have to do is pick your device, download an OTT app, and that's it. 

Different Over-The-Top (OTT) Software We Provide

Video OTT software, in general, has emerged on the cutting edge among these three types of OTT types. The overall project cost varies depending on what type of OTT app you are planning to build.

Let us have a look at different types of over-the-top (OTT) software solutions and their estimated development cost.

• OTT as devices (Apple TV, Samsung TV, Hulu)
• OTT apps for content & communication (Netflix, Amazon Prime, Skype)
• Service based OTT apps (Robinhood, AirBNB, Uber)

Key Features Of OTT App Development

Login & Sign Up

The most important feature is LogIn and Sign Up, where a user enters personal information that is used to improve the overall user experience. In the case of a video streaming app, this process will also result in the creation of user profiles, which users will be able to access from any device. All they'd have to do is enter their username and password.

Content Should Be Multilingual

The core user base must be normal in order to reach a broader demographic and expand the business beyond geographical borders. The important thing is that you simply add more information to your video streaming app, which should attract a large audience. The demographics could be expanded by taking into account the audience's preferred languages.

Search

To get into an OTT streaming app, you must have an Explore or Search option. The option should be designed in such a way that it is visible to people of all ages. In addition, try to include as many celebrity options as possible in the research drop-down menu.

User Profile

Your app should have a user profile option that allows them to manage their own side of the app, the information they want to see, their preferred payment method, and recommendations based on their screening history. If you want to follow Netflix's lead and add more customers to the app, set up multiple displays in the app, with each user getting their own set of features.

Watch List

The watch list functionality of the OTT video streaming app is a must-have feature; this is where customers can add things they want to watch later. This is the most important factor, and the OTT app is well-known for it.

Social Characteristics

If you ask any OTT application development company about social media features, they will tell you that it is an important part of the overall OTT experience. You should give your users the option to share their feedback/opinions on social media with their friends.

Screen Monitoring

This section is the most important; it may be advantageous if your users can access the app on other displays other than their mobile devices, such as their TV or desktop. There are two ways to implement this feature: Create your own OTT app for mobile and TV devices, and then provide your app users with the convenience and seamlessness of cash transfers.

Push Notification

The push notification feature is required to send notifications about new content uploaded to the platform, subscription renewal or expiry details, and other important information.

Other AI-based features can be added to recommend content to users.

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How Do You Make An Over-The-Top (OTT) App?

You must first choose a technology stack before you can create an OTT or video streaming application. This includes deciding on the right server, streaming protocol, and security measures. If you are new to this field and have little or no knowledge of the OTT development process, contact an experienced agency or hire dedicated developers with relevant expertise and an estimate of video streaming mobile app development cost. To get the most out of your money, make an informed decision.

Decide Niche

Choosing a specialty is the first step in launching an OTT platform. Establish your target audience and the type of information you wish to deliver. Movies, TV series, documentaries, sports, news, music, and children's material are a few popular niches. The type of material you need to collect and develop will depend on your niche.

Research

Once you have determined your niche, conduct market research to learn about your rivals' advantages and disadvantages. Examine their business practices, subscription strategies, content selections, and user interfaces. You will gain a better understanding of the market gaps that your platform can address thanks to our research.

Content Management

Make a content strategy based on the market and specialized analysis you've done. Choose the formats, frequency of releases, and sort of content you want to create and buy. Choose the partners you'll need to collaborate with on production and distribution in order to carry out your content plan.

Create a platform

It's time to construct your platform after you have a content plan in place. Determine the technological stack you'll require for your platform's construction. Select a platform that offers a seamless user experience, scalability, and flexibility. To establish your platform, you might also need to hire a group of developers and designers.

Launch Platform 

At this point, your platform should have a sizable content repository. With marketing campaigns across social media, email, and other channels, generate talk around your launch. Offer early adopters enticing subscription packages and incentives. Once your platform is up and running, keep marketing it to draw in new users.

Monitor 

After your platform is launched, keep an eye on user involvement, behavior, and feedback. Utilize this information to enhance the user experience, content selection, and subscription options on your platform. To retain your customers, constantly innovate and stay one step ahead of your rivals.

Software Solutions to Meet Unique Business Needs

How Much Does It Cost To Start An OTT Platform?

Like any other business application, there’s no exact fixed cost to develop an OTT platform. Multiple cost-deriving factors directly impact the OTT platform development cost, thus making it difficult to share an exact cost quote.

Are you planning to develop your own OTT platform and looking for a customized OTT app development cost? Then reaching out to our experts at RisingMax Inc. might be a good idea. Our experts carefully evaluate your OTT project and share an exact development quote based on the factors mentioned below.

Factors that directly impact the OTT platform development cost in India

• Type of OTT platform
• OTT app's features
• In-built security features
• Development company’s expertise
• Features complexity
• Required tech stack
• Project development timeline
• Add on features

To build an OTT app, most OTT platform development companies in India carefully evaluate the above factors and share an estimated project budget. You'll likely need to spend between US $25,000 and US $45,000 for OTT application development in India. However, the OTT app development cost may vary based on project requirements and the factors mentioned above.

An OTT App's Monetization Strategy

To get the most out of your OTT app, it's always a good idea to plan out your monetization strategy ahead of time. Subscription or membership plans are how most OTT platforms make money. You can go with the same option or seek advice from an IT Consulting Company.

At The End 

This article is for you if you want to develop an OTT (over-the-top) media streaming application and are concerned about the ott video app development cost. In this pandemic, we've seen a significant shift in the audience to the online platform. If you have an idea for an OTT app and want to take it further, we the OTT App Development Company is here to assist you with every step of the process.