When should I launch my OTT video service? 3 tips you should consider.
Over The Top (OTT) services have emerged as the new generation of content distribution. This is how video content now is shared, viewed, and monetized. Did you know that: 76% of internet traffic comes from video? And most of it is being consumed in mobile devices!
OTT video services aren`t just a business model for large companies with billion-dollar budgets and premium content. You too, could affordably build a business with video at its core and gain thousands of dollars every month.
So… when should I launch my own OTT video service? When is it best?
The first thing you should know is that OTT is not for everyone. Tools like Youtube or Vimeo work very well when you sporadically generate random videos. But if you are consistently generating value content to a specific target audience, you should start building your brand.
Some questions you should ask yourself beforehand:
a) Are you producing or licensing value content for a target audience?
b) Do you have the rights to distribute your content?
c) Do you have enough content to launch a video service?
d) Is there a brand/audience willing to sponsor/pay for your content?
If your answers to the questions above are all YES, you are ready to start your very own video service!
Some tips for your launch:
- A-VOD vs S-VOD, which do I choose?
AVOD refers to advertising, or ad based, video on demand, and it is free to consumers. SVOD refers to subscription video on demand. It is similar to the traditional TV packages; allowing users to consume as much content as they desire at a flat rate per month. Premium content owners rarely use AVOD as it does not generate as much revenue as SVOD and TVOD. Now what if I’m right in the middle? You have great brands that are looking to reach my target audience, and some of your customers are willing to pay extra for PREMIUM content. Nunchee.com allows you to have both. You can mix and match. Create a variety of monetization strategies by using a combination of product configuration and access groups.
2. Do I have enough content to maintain my audience engaged for a long period?
Are you generating videos every day, week, or month? This is vital in order to create a real value to the end user and ensure their permanence during the time. We recommend for starters to have at least 125 videos whether they are short or long clips. With a hundred + videos, you can have 5 playlists, with 5 pieces of content each, in 5 different pages – this is known as the 5x5x5 rule. This is a great start but, you`ll need to create new content every week, especially if you opt for a SVOD model. Video consumers seek new content every day. Know that OTT video consumption increases by 4 hours weekly compared to TV consumption. And you will need to fill that space with value content.
3. Should I go Mobile?
This is definitely a Yes! Apps can grow your audience up to 50% more than websites. With Nunchee you can have your own app for iOS and/or Android published in the stores in less than 24hrs. You can definitely have your own “Netflix” style business ready to go within hours.
For more info Nunchee.com/princing.
If you’re still thinking along the lines of “one-time transactions”, “a sale and a goodbye”… you are not ready for OTT Video. To succeed in this revolutionary space, you must be prepared to go the long way! Cultivate, nurture, and grow relationships with every, single customer.
If you are willing to do this! You will you will score a championship winning Hail Marry!