When you create a business, you likely want it to be successful. In the video streaming industry, some part of the success here depends on the solution you obtain. You can acquire a feature-rich platform that will be able to ensure a smooth user experience or purchase a platform that has minimum features for your operation.
The right OTT platform can provide you with wide functionality. These features can help you become a successful video streaming service provider. A lot of large streaming services use a set of features to keep their audience engaged and interested.
These features can help you a lot in developing your service. They are suitable for boosting user experience and generating more revenue. Let’s observe them in detail.
What are the Features that can Help You Become a Better Video Streaming Service Provider?
A lot depends on the video streaming solution your service operates on. Not all of them are equipped with the functionality that we are going to talk about here.
What can help you boost your service performance? The answer is proper software, analytics, and features to increase user engagement. Let’s give them a closer look.
1. OTT Middleware
OTT Middleware is what will help you manage the whole video streaming business. It provides a content creator with functionality to manage subscribers and set limitations like who can access videos and where. Furthermore, OTT Middleware has the functionality of a content management system (CMS). Thanks to it, you can manage content and create categories and subcategories.
Middleware allows you to set prices and define monetization models and billing systems. You can provide access to content via subscriptions or sell every single piece of content and create bundles.
OTT Middleware connects all other parts of a video streaming service and helps them exchange data.
2. Features for your business
It is essential for a business to generate revenue and communicate with its audience. That’s why the following features can come at hand:
Customization is important as it can help you convey your message to viewers with design components. Your design is the first thing people see when they come to your platform. It is likely to make the first impression and define whether a person will use your service. That’s why you should think this through.
If you acquire a white-label solution from a professional video streaming platform provider, you will be able to customize your service. The white-label solution means that the platform is pre-developed, and you need to implement your brand design elements.
Multi-platform capabilities are valuable for businesses and viewers. Businesses will be able to reach more people. It is essential as not all people use computers. Many people today prefer smartphones, and that’s enough for them. Furthermore, some viewers prefer watching videos on big Smart TV screens with an immersive sound.
If you offer the possibility to watch videos on any device, you will be able to create several payment options. For example, you can allow people to stream content on all devices or limit the choice to one gadget.
For viewers, multi-platform capabilities offer flexibility and convenience. They will be able to use any device they want and have. People won’t need to invest in buying new gadgets.
If they want, they will be able to watch videos on a Smart TV. When a person is not at home, they could stream videos on a tablet or a smartphone. What the consumer needs first is an internet connection and a compatible device.
It is always important to track the performance of your video streaming business and understand what is going well and what isn’t. The analytics functionality can be of great help here.
Many businesses make the mistake of not tracking analytics data. And they fail to meet customer needs and grow as a company. They fail to continue operating after some time.
There are many benefits you get when tracking analytics data. For example, you can improve operational efficiency. Analytics will show your technical performance – how fast the videos are loading, how well they are played on different devices, and so on.
Moreover, you can clarify who your viewers are more precisely. You will be able to identify videos that they like the most and those that are watched the least. Also, you can analyze their behavior.
These data can help you in further content planning and platform development. You will be able to discover hidden trends and measure the performance.
4. Features for increasing user experience
Many features of the OTT platform can contribute to user interaction with the video streaming service. For example, a recommendation engine, a video-on-demand functionality, rewinds, and catch-ups.
A recommendation engine can help you engage your viewers more. It analyzes the videos a person has already watched and provides them with recommendations. Viewers usually find recommended videos that are similar to their interests. The engine collects information about how a consumer watched that video and whether they liked it or not.
The video-on-demand functionality gives viewers a lot of flexibility. They don’t need to wait for a video to air. They enter the service and click on a video they want to watch. It can be done at any time.
Features like rewind and catch-ups are great if you offer television content via the OTT platform. People can rewind a program or watch it later as it is available for viewing for some time after being aired.
Of course, there are more features that can help you boost your service. It usually depends on the business goals you want to achieve. For example, if you are to monetize your videos, then monetization functionality will likely be the most important for you. The features we have listed can help you manage your platform better, enhance it step-by-step, and increase user engagement.
If you want to upgrade your video streaming service, we recommend you contact Setplex, as they can offer you an appropriate solution.