During the COVID-19 epidemic, people were getting increasingly engaged with OTT applications. Users around the world resorted to online content consumption to pass the time when forced to stay put during total lockdowns, and OTT applications saw more downloads than ever before.
However, the emergence of OTT has radically altered the environment, and such aggregation partnerships have become much more crucial. According to a survey, 60% of members of several streaming services are dissatisfied with their watching experiences, and 44% of those polled spend more than six minutes looking for anything to watch. This illustrates the rising dissatisfaction among consumers as they navigate the increasingly fragmented streaming environment.
So, how can operators ensure that these clients stay on board?
Flaws in the current OTT streaming platform
Subscriber churn has reached as high as 67% in mature markets, according to the analysis, which cites three significant flaws that are 'fading' the streaming experience for users.
UI Flaw: Before going on to the next OTT service, customers must enter, navigate, and exit the UI of each one. This produces dissatisfaction, which grows with the amount of content they watch and drives them to cross-service search engines.
Cost: Consumers have reached their maximum in terms of the number of services they will bundle. They do not wish to pay for each subscription individually. The expense becomes too much to bear. Discontentment is also rising, with none of the mainstream providers seen as providing significant content. The vast majority of customers worldwide feel that paying for the entertainment subscriptions they desire is extremely expensive.
Algorithm Scatter: Each OTT platform has its own recommendation engine that makes recommendations based on the content. Viewers must access each OTT platform independently. As a result, most customers want their information from one provider to be readily shared with another that might provide them with better, more tailored content.
Aggregation is the new norm.
Aggregation isn't a new concept; in fact, pay-tv companies have been doing it for years. Next-generation aggregation aims to unite OTT services under one roof, allowing users simple access to a variety of platforms. Content aggregation, in which the service becomes the exclusive source of all content, aids in the resolution of all of these problems. The content aggregator concept might function in two ways:
The pay-tv provider produces their own package that includes SVOD subscriptions.
The operator provides access to a variety of additional SVOD services, but it is up to the customer to decide which ones to subscribe to.
Why Should You Create Your Own OTT Application?
ISPs' traditional business approach is to provide solely internet access. With changing circumstances, Big Telcos are extending their offerings to include OTT platforms. To avoid becoming outdated and losing market share, ISPs must provide internet + OTT packages. The market potential is vast, and it has the ability to deliver a massive increase in revenue and client base. ISPs' new bread and butter is Internet + OTT. It provides ISPs with:
Greater Control: By developing your own OTT app, you can personalize content suggestions for your users and gather data from them. When you have your own app, you have complete control over everything like UI/UX, unlike when you exhibit your content on an aggregator app, where you must adhere to the terms and conditions of the platform you're utilizing.
Exclusivity: Exclusive and original content on your OTT app will connect your clients to your platform because they will not be able to obtain such content elsewhere. Not only will this attract new users, but it will also boost the lifetime value of each client.
Enhanced Branding: With your own OTT application, your own branding, own logo, and own UI/UX would provide customers with a seamless experience, and better publicity for your brand.
Better Monetization: You can avail yourself of services from OTT platforms with a discount and offer them to your customers in a package or bundle. This provides better monetization for you.
How to build your OTT app?
Building your OTT app is a breeze with Infynect Labs. We assist you in the development of your own OTT platform. Choose your own bouquet of OTT applications. Infynect Labs brings you a range of premium and local OTT platforms to cater to a larger audience. We have collaborated with platforms like Zee 5, Eros Now, Amazon Prime, Voot, HotStar, Sony Liv, etc. We cater to diverse localities through platform aggregation according to your needs and preferences. Our solution has a customized UI/UX for all platforms, which provides hassle-free access to end consumers.
Help us help you, get in touch with us today.
