You’re at the day when you and your team have taken the big decision to kick start your very own OTT video platform. You spent countless hours in assessing its feasibility, identifying a goal and putting together a blueprint plan all the way to its launch. Possible disruptions along the way have already been accounted for and are ready to be dealt with. This set up looks like it’s the yellow brick road to success. Honestly though, this sounds too good to be true. In reality, both existing and new video streaming players have to realize that OTT success is no walk in the park. No doubt that a rigorous plan in place will strengthen the foundation of the project but there are giant boulders you will encounter along the way which you didn’t even see coming.
You wouldn’t want this to pop on your customer’s stream
Here we take a look at the 4 biggest mistakes that are typically seen in the video on-demand business and how you can navigate around them.
Inadequate security poses a serious risk to business. While subscription becomes top priority when a new platform is launched, omitting the need for constant security improvements can lead to repercussions in later stages. If your OTT platform is host to third-party content, those third-parties might seek to promote their content through fraudulent means. This results in a growing distrust and your brand might be slapped with labels which say ‘unethical practices’. Piracy is another serious threat to video streaming businesses. Watermarking and digital forensics are sought after solutions but utilizing DRM (Digital Rights Management) technologies is the best way to secure the safety of your platform and its content. In matters such as these, it’s important to consult a tech expert. At Enveu, we take our clients’ security concerns seriously and ensure the best proven solutions are in place to counter any digital risk.
Imagine finding yourself excited and panicked at the same time when your video streaming platform experiences a huge surge in traffic. The second emotion usually stems from the lack of proper scalability preparation. Scalability is important to ensure that the user experience is uninterrupted even in the face of increased subscriptions. Your platform should never pitch tent. It needs to constantly keep growing and building up resources to stay ready in the event of user experience upgrades.
Failing to Attract Investments
It’s always a good place to be when your OTT platform is sought out by others as an investment opportunity. Of course, the decision rests on you whether to consider it or not but the very fact that the OTT platform you launched is getting investment attraction is a huge statement in itself. A product that grows from a sincere vision, stays true to its promises, knows how to keep its customers engaged and is ravingly spoken about in the digital circles is seen as an enticing business to collaborate with. But failing to attract investments is a representation of how your product is being perceived in the business world. It therefore becomes important to keep this benchmark at the back of your head while moving forward in the growth of your video streaming business.
Riding a Bad Wave
There are good waves and then there are bad waves in any industry that follows a certain trend. Trends come and go in the OTT industry as well. For instance, the SVOD model was touted to stay dominant for a long time. But as soon as covid struck and it shuttered down cinemas, the TVOD model gained popularity and started to outperform. Video streaming platforms are gradually becoming the top choice of new theatrical releases and customers are ready to pay more. Similarly, services aimed at the 3D market and VR market are going nowhere but unsuspectingly esports has rapidly grown. Second guessing the OTT market is like playing the stock market. Expert advice and research should be the keystone foundation before you pick up the surfboard and start swimming towards an incoming wave.
Common wisdom says that mistakes can never be fully avoided but we can control the impact it is allowed to make. Consult a tech expert like Enveu whose experience and skill will help identify and cushion the blow of any bump down the road of your OTT success story.
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