Overriding The Flows Of Video Streaming Platforms
Entertainment has come so far from the past age of broadcasters when it was restricted by many hurdles. Whenever there is an initiative of OTT platform development, every team puts in a cent percent to make the platform a success. OTT service providers put countless nights to make the platform user-friendly, assessing the feasibility, identifying a realistic goal, and putting together a blueprint to make the way to a more reachable platform and bring a more return on investment. This all feels easy with words but it is not a cakewalk. Talking for real, both the existing, the new, and the giant video streaming platforms have to realize the fact that it is not a walk in the park. People far and few understand the fact of the initial idea and the final product of the platform. Without any doubt, a rigorous plan and reliable implementation will strengthen the foundation of the project.
Video streaming platforms more often lack a determined strategy, they often make several mistakes that make the OTT platforms cannot digest and move further.
We have shortlisted some mistakes that are typically visible in the video-on-demand platforms and how you can navigate them around.
Inadequate security in the video streaming platforms poses a serious risk to business development. Although subscription becomes the topmost priority when any OTT platform is launched, omitting the requirements for constant security enhancements can lead to some grave consequences in later stages.
If your OTT platform is hosted by third-party content might quest to promote their content with several fraudulent means. This may result in growing distrust and it can be possible for the brand might be labeled as ‘unethical practices.
Piracy nowadays is among the serious threats to video streaming businesses. Digital forensics and watermarking are longed-for solutions for many businesses but utilizing Digital Rights Management (DRM) technologies is the smart way to secure your platform and thereafter the contents over the platforms. In matters like these, it is the best thing to consult experts in the industry. Phando takes security seriously and makes the best efforts to make to counter any such risk for the OTT platforms.
The scalability of the platform becomes important to ensure an uninterrupted user experience with the growth of the video streaming platform. It needs to continuously grow and build up resources. This might help in keeping the platform ready with the developments in the market and enhancing the user experience with those developments.
Failing to attract new investments
It is always good to get new and different ways to attract several investments from investors throughout the world. Certainly, the last decision rests in your hands whether to consider it or not. But, it is a huge benefit in itself to get investments and recognition from the investor’s side. But not getting attraction from the investor’s side represents how the product is perceived in the market. It is, therefore crucial to keep it back on your head while growing your video streaming business.
Not moving with the trends of the market
Trends come, make changes in the market and go with time. This is also true with the modern OTT industry. For instance, the SVOD model was glorified for a long time leading to its becoming a dominant monetization model in the market. But with the arrival of Covid-19 and the closure of cinemas for an unprecedented time, the TVOD model captured popularity and started to outperform the other monetization model. Video streaming platforms are gradually turning into the top priority for new theatrical releases and customers are all set to pay more. This can be more appropriately understood with the recent downfall of Netflix’s stock by 26 percent due to its rigid inclination towards the SVOD model. It is better to go with the demands and requirements of the customers.
Predominantly mistakes cannot be avoided altogether but there are possibilities to control the repercussions. Tech experts can provide more reliable solutions for a prosperous future for video streaming platforms. Our tech team at Phando has skills and expertise in the field and can help you in cushioning the blow of the hurdles to the success of your OTT platforms.
Connect with us to know more about getting a more prosperous OTT platform.