Suppose you are a business owner looking for opportunities to launch a new project and increase revenue. We have an idea for you – IPTV/OTT video streaming platforms. In this article, we are going to talk about why IPTV/OTT service is a good business idea.
If you are interested, learn how to create your own IPTV/OTT business solution. But if you are totally new to IPTV/OTT technology read the article “What is IPTV”.
What can an IPTV/OTT platform be?
There are many ideas on how you can use an IPTV/OTT platform. For example, you can create your company’s brand media and create videos with news in the field. Also, you can make videos of an educational character. It is a good idea for Universities, educational centers, and fitness and health industries.
Some fields, such as church and sports, may find a live streaming feature helpful. For example, churches can live stream preaches and prayings.
Also, an IPTV/OTT platform can be a whole new project, not referring to previous ones. It can be a video streaming platform like Netflix with series and movies.
Whatever way you choose, there are reasons that you will benefit from your IPTV/OTT streaming platform.
People love IPTV/OTT services for many reasons.
These services use the Internet to transmit data, and it is the reason they are so popular among different people. For example:
- IPTV/OTT services offer the freedom to choose when and where to watch. Unlike cable or satellite TV, these platforms don’t have a common schedule and aren’t tied to a single device. They create VOD platforms that allow viewers to watch videos when they have time and desire. People don’t need to wait until the show begins. What is more, consumers can watch these videos on any device they want.
- IPTV/OTT platforms provide a wider range of videos to watch. They often offer videos of more genres and various characters. There are services offering only romance video genres. Or there are platforms dedicated to yoga. Also, these services don’t have as strict censorship rules as TV programs.
- IPTV/OTT platforms are easier to sign in to. They don’t require signing a contract. Due to that, it is also simple to cancel the subscription. Some services even don’t require a subscription. They can offer videos for free or charge a fee only for videos a user wants to watch.
IPTV/OTT services provide convenience and interesting content. It is what people appreciate so much about them.
Businesses can earn a lot of money with IPTV/OTT platforms.
IPTV/OTT services provide much functionality for money-making. For example:
- Showing people ads from other companies. A content service provider doesn’t charge a fee for viewing videos. They receive revenue by allowing other businesses to show their ads on a platform.
- Charging a monthly, quarterly, or yearly fee for access to videos.
- Requiring payment for every video or a group of them.
Sometimes businesses combine several monetization models. For example, they open many videos for watching with a subscription, but there are Premium videos that require additional purchase.
IPTV/OTT services can help a business to build relationships with customers.
Especially, if you launch a video streaming platform with videos created by your company. They are about your brand, and you share your experience and thoughts. People can understand what your values are and what you represent. So, they get to know you, which helps you build strong relationships with them. Someone even will turn out to be your brand advocate.
If a brand is popular without a video streaming platform, it can design a video streaming platform like Netflix – with movies and series. So, you will show your regular customers that you have a new project attracting them to watch. There is also an opportunity to create a promotion. For example, you give a subscription for obtaining your other product or service.
People interested in movies can learn about your platform and then services with its help. They will likely get interested in your primary product. So, you will attract new customers to all your services and boost revenue.
Live streaming functionality can also help you build strong relationships with customers. A brand can communicate with people in real-time. So, they can ask questions and get answers immediately from you, not waiting for customer service.
Final Thoughts
IPTV/OTT streaming platform is a buzzword due to successful businesses, such as Netflix, Hulu, Disney+, and HBO. And they have huge audiences almost around the world.
So, it is worth considering a video streaming platform as a tool to expand a business and attract more customers to all your products or services.
