With the popularity of OTT live streaming platforms increasing exponentially, it is gradually overtaking paid TV business. Additionally, by providing users multiple superlative entertainment options OTT is scaling newer heights in the M&E industry.
Statistics say that 70% of paid TV viewers express displeasure over the content displayed while the flexibility to choose content on the OTT platform is making it the primary choice for viewers worldwide.
To cater to this growing global demand, PhunFlix is expanding its coverage to include services to support geo-location, multiple currency etc.
PhunFlix started as an innovative platform that provided ad and movie makers the perfect opportunity to showcase their creations. It even provided them with technical expertise and content delivery. For the viewer too, this platform proved to be a boon as it gave them access to global and regional content at very reasonable rates.
The ability to provide local viewers the content in a language of choice proved to be its key selling point. This strategy also helped it to garner the local audience. However, catering to the likes of the global audience was not an easy task. Yet PhunFlix scored here too. It provided its global audience with certain specific benefits that helped them save money even when opting for the pay-as-you-watch subscription model of PhunFlix.
It is common knowledge that content that is popular in a country might not be as loved in another. By recognizing this fact and coming up with geo-location support, PhunFlix managed to stand out from among the numerous OTT and live streaming platforms in operation.
What is Geo-location Support?
Simply speaking, geo-location support for OTT content refers to designing content based on the expectations of users specific to one location and delivering the same. Thus people have the choice of viewing location-specific content along with global content. By facilitating geo-location support, PhunFlix has also provided its subscribers with several other benefits like:
- Location-specific content: With PhunFlix, moviemakers and film distributors can release their creations exclusively for a specific geographical location. Herein, they can opt for multiple geo-location international releases for their global creations. By sorting out and categorizing content based on language, PhunFlix helps users have time that would otherwise have been spent searching for the same on their platform.
- Multi-currency support: A simple feature, wherein users can select to pay in the currency they want has become a major source of benefit for the PhunFlix users. Users herein do not face hassles related to currency conversions.
Currency rates keep changing frequently and hence, every time subscribers seek to pay for uploading content or buying content, the price conversion becomes different. This is not only irritating and time-consuming, it is also costly in the long run.
Just as this helps PhunFlix viewers, film, movie and ad-makers also benefit from the same. Since the cost of production differs from country to country, by offering multiple currency support, PhunFlix offers filmmakers and distributors the chance to sell their creations, movies, ads and other such video content, at a reasonable and appropriate selling price. Thus makers also benefit from the value differences of the currencies by monetizing movies based on the region-specific prevalent market value.
Additionally selling movies with a different price tag to a global audience is easier than those choosing to keep their prices fixed.
Offering multiple currency support for the global audience also makes buying and selling video content a seamless affair. Filmmakers can take advantage of this to ensure timely payments, thereby mitigating the risk of penalties arising out of a breach in the agreed terms and conditions.
Any business involving subscription is meant for global growth. For OTT and live streaming platforms enabling their subscribers to pay using their native currency is a very big deal that benefits both.
With the multi-currency support in place, PhunFlix extends its services to a wider user base across different geo-locations. Hence, PhunFlix can now bring more diverse, vernacular content from a host of upcoming filmmakers and talented newcomers to a wider audience.