If you have ever watched video content on platforms like Netflix or Amazon Prime, you have been exposed to the potential of the revolutionary OTT technology. If you are still wondering how big the OTT market is, let’s look at some stats to get a better understanding of the OTT arena.
There are more than 300 streaming video services to choose from, for the average consumer.
The global OTT market is estimated to touch approximately $332.5 billion by the year 2025. This roughly equates to a compounded annual growth rate of 16.7% between the period 2018 to 2025.
One thing that has propelled the wheel in motion for the OTT industry is the global COVID pandemic that forced people to stay at home and consume more video content for leisure.
What is OTT Software?
OTT refers to Over-the-Top media services. It’s a unique way to deliver video content to the audience by leveraging the internet. It gives the user the flexibility to watch the content whenever and wherever they like using their smart devices & computers.
OTT software providers help to launch a video app/platform and allows bulk uploading of videos with digital rights management. It’s very dynamic, to say the least, it entails a top-notch content management system that allows one to manage metadata, geo-blocking, asset management, uploads, etc.
Robust OTT video software can help content owners easily reach a global audience and monetize their content.
Benefits of Using OTT Software
Now that we are familiar with what is OTT software and what the OTT platform software entails, let’s peep into some of the most prominent benefits of using OTT streaming software.
- Multi-Device Support
One of the most important benefits of OTT software is that it allows you to widen your audience base by providing multi-device support. The multi-device support plays a crucial role in your success and doesn’t limit your audience.
Top OTT software helps you provide a secured viewing experience to your audience. It helps to protect user data and personal creations. The digital rights management that comes with most OTT software helps you obtain full ownership of your content.
- Wider Audience Reach
OTT software can easily help you reach a wider audience base by promoting your relevant content to the audience. You can also get detailed insights into what your audience might and might not like. It helps you provide multi-device support that further increases your reach.
OTT software provides one of a kind viewing experience. It has very basic prerequisites for the audience to view video content. All they need is a decent internet connection and a smart device that supports video content like a mobile phone or laptop.
- Cost Friendly
Now, this one is a major game-changer for the video content industry! OTT platform packages are cheaper than the traditional cable TV package. The audience can also choose to pay for the content that they would like to watch.
OTT services are growing popular as it provides more autonomy to the user by allowing them to watch preferred content whenever and wherever they want. They can even watch it continuously without any restrictions.
- Variety Content
The variety of content that the audience has access to in the contemporary is drastically different from what they had in the last decade, thanks to the advent of OTT platforms. Viewers now have access to content from all over the world and that too at very nominal prices.
How to Choose the Perfect OTT Video Software?
Ever wondered what it takes to launch an OTT platform? One of the trickiest things in the contemporary is choosing the perfect OTT video software provider. There is no universal perfect solution that exists, but it all depends on your needs and budget.
Choosing the right OTT video software requires assessing various service providers based on the features they are offering, pricing model, customer support, etc.
Some of the most prominent features that make an OTT platform successful include the following.
- 100% Customizable
The modern era is all about delivering a personalized experience to the end-users. You should always opt for an OTT software that allows customization to a great extent. It will help you set yourself apart from the crowd and create your brand.
- On Cloud/ On-Premise
You should always check for the type of deployment being offered by the service provider. On cloud gives you limited control but also relieves you from day-to-day technicalities. However, on-premise provides you with more control with more daily management tasks.
- Video CMS
A video content management system is the most important element in your OTT software. One simply can create an OTT platform without a dynamic video CMS. A robust content management system will help to deliver a good user experience. It also helps to streamline the workflow and provide a secure online viewing experience.
- End to End Development Support
End-to-end development entails building an app from scratch using a single developer or team of developers. End-to-end development support is a must especially when you don’t have much technical understanding. It’s far easier to build an video on demand platform when you have end-to-end development support.
- Secured DRM
Digital Rights Management (DRM) helps to protect the rights of your digital content and provides you with exclusive access to ownership. Secured Digital Rights Management (DRM) is a must when you want to build a brand.
- HLS Video Player
HLS Video Player can provide you with a powerful all-device fastest video playback facility that is 100% customizable and has a high-quality buffer-free streaming experience. Also, you can leverage advanced technology of adaptive bitrate & player analytics.
- Multiple Monetization Models
Multiple monetization models are a must-have feature for good OTT software. It allows the creators to obtain their reward using different video monetization platform models. Some of the most prominent monetization models include Advertising VOD, Subscription VOD, Transactional VOD.
- Content Delivery Network
A Content Delivery Network (CDN) is a widely distributed platform of servers that helps to reduce the delays in loading web content. A better content delivery network will help to boost the user experience and avoid any delays that might prevail. It smooths the streaming for your viewers.
Top 10 Best OTT Software Providers to Launch OTT Platform in 2022
Let’s take a sneak peek into the best OTT software providers in the contemporary that will help you create a robust brand with a global audience base.
The first in the list of OTT software providers is VPlayed. VPlayed is among the best self-hosted OTT platform that caters to a diverse audience segment. The primary aim is on providing robust live streaming and VOD services. They also offer personalized solutions for various niches including sports, religion, fitness, filmmakers, and other industries. The pricing varies depending upon the services you choose; it goes by quotations.
- 100% Customizable
- Robust Security
- Multiple Monetization Models
- All Device Player
The IBM OTT Streaming brings together intelligent content distribution capabilities that facilitate direct and third-party OTT streaming. It helps to boost the monetization prospects of each user. IBM cloud video is generally used by broadcasters for live streaming and Video on Demand.
- AI-powered captions
- Live Polling
The CONTUS VPlay is a convenient OTT streaming solution that primarily caters to the need of people looking to expand their audience base by leveraging their video library. It helps video content owners to easily monetize their platform and earn revenue from the audience. It’s very dynamic as it serves customers in different industries including production houses, educational institutions, corporate houses, etc. The AES encryption together with access controls helps to build a robust and secure online platform that completely encrypts from cybercrime. CONTUS VPlay provides a quotation for pricing based on the requirements of the users.
- Video CMS
- Cloud Transcoding
- Hls Player
- Inbuilt Marketing Tool
The JW Player provides video hosting services that integrate with the majority of the OTT platforms. Many OTT platforms use this player for hosting and live streaming videos. It also helps you customize your OTT output by leveraging various tools from multiple providers. It is very easy to even link an existing website or application with the JW Player.
- Video API
- Live Streaming
- Content Protection
If you have been in the video content industry for a while, you must have heard of Vimeo. Vimeo is known for providing a wide range of basic solutions for live stream, VOD, OTT, TV applications, etc. Vimeo’s pricing structure is placed flexibly for users with the cheapest tier charges. Some of the noticeable features include protection against piracy, poll, and live chat features, etc. The growth or intermediate charges include a considerable amount to build advanced applications.
- Branded apps with in-app purchase
- In-depth, real-time insights
- 24/7 support for you and subscribers
- Free migration, no downtime
Zype helps to deliver an API-first SaaS that aids the product team to overcome critical video streaming challenges and build a robust application. Zype takes a comprehensive approach and helps companies to increase their revenue and engagement using mobile, OTT, connected TV, social media, and other digital platforms. With the ease of support and quality, this video streaming solution makes it stand out from the crowd. Zype has four types of pricing plans that offer a different range of features.
- Customizable Branding
- Third-Party Integration
If you are looking for a service provider that can cater to all basic video streaming necessities at a decent quality then Uscreen is for you. One can easily upload videos and build a go-to-market website. OTT applications are offered as an auxiliary feature by Uscreen. The basic plan begins with a monthly charge and the enterprise plan is offered by quotation only.
- Video Hosting
- Built-in marketing and sales tools
- In-app purchases
Muvi is a SaaS-based OTT solution provider that helps video and audio content creators to create their brand and launch their OTT streaming platform. Muvi provides comprehensive solutions and takes care of various aspects including IT infrastructure support, DRM, video player, applications for mobile and TV, etc. Multiple monetization options, piracy protection, and offline viewing are some of the remarkable features offered by Muvi. The standard plan offered by Muvi is quite professional at the initial stage and it can go up to exclusive pricing for the ultimate plan.
- Metadata Management
- white-labeled solution
- Built-in CDN
Kaltura offers a video platform that is best suited for collaborative projects. It’s far easier to host virtual conversations including business meetings, online classes, town halls, etc. Some of the most prominent features include custom workflows, high-level customization, quality user experience, etc. Kaltura has no exclusive pricing plans, they offer quotation-based pricing. Kaltura is slightly higher on the price line for the basic customer.
- Video Transcoding and Processing
- Media Collaboration and Sharing Tools
- Variety of extra apps, plugins, skins, widgets, services
Brightcove is among the leading service providers in the OTT video content industry. Brightcove aims to simplify video delivery irrespective of the location and device. It facilitates the same with a unique tool-set that adds value to the user experience quotient. From retail e-commerce to art and entertainment, Brightcove serves them all.
- Interactive ad capabilities
- Social media sharing
- Multi-screen video distribution
Choosing the right video software provider can be a game-changer for your organization. You should weigh the pros and cons of each provider before reaching an effective conclusion. It should meet all your needs, must have the essential features discussed earlier, and should be inconvenient with respect to its cost-effectiveness!