According to Digital TV Research, global SVOD revenues will reach $100 billion by 2025 – double the amount recorded in 2019. The same report estimates that a third of the world’s households will sign up for at least one SVOD subscription within the next five years. Many video providers are tapping into this potential, and the number of OTT services is steadily rising across the globe. However, the market is getting crowded, and providers need to ensure that their offering stands out in order to attract and retain subscribers.
For some video providers, creating new apps from scratch is the best option, especially if they have plenty of time to prepare for the initial launch. This approach is likely preferable if aiming to create something 100% unique. In other cases, however, a better (and often more efficient) route might be to build on what is already available. Especially since a SaaS solution still allows you the flexibility to customize your video service and create something that feels relevant to your brand. Here are three additional reasons to consider the latter approach.
A faster launch
Increased competition means that OTT video providers are under pressure to launch their services fast. When the coronavirus first hit the headlines and global lockdowns began, consumers turned to video services for entertainment. That momentum has continued over the recent months and many reports continue to show a rise in TV viewing in general and OTT subscriptions in particular. As a result, pay-TV operators (and other industry players who didn’t yet have their own OTT offering) had to act fast to ensure they would not be left behind. It quickly became clear how important it is to react swiftly to changing market dynamics.
Launching fast can make all the difference for a new video service, but building and optimizing apps from scratch takes time. Customizing something that already exists is naturally a much quicker process that enables you to get your offering to market fast.
Reach all platforms
When it comes to on-demand video consumption, consumers have more options than ever before. From the content they watch to the type of services they subscribe to, there are plenty of opportunities to design a video viewing experience that perfectly suits their needs. All consumers have their favorite device for video viewing, and each device is very different in terms of formats and requirements.
Naturally, this results in a certain level of complexity for video service providers who will need to create multi-platform experiences that feel native to the respective environments. At the same time, it is important to ensure a certain level of consistency across all of those platforms. As all parts in the video ecosystem are constantly evolving, it is not a simple question of doing this process. The apps need to be continually updated to ensure they are always performing perfectly.
Using a native app that is tried and tested across all different platforms gives you the confidence to know that it will function well no matter how it is being viewed.
Concentrate on creating a great video service
The goal of any OTT platform should be to create a video service that is compelling and engaging enough to keep users happy and subscribed. This means getting the right content, making it easily discoverable, and delivering a seamless and natural user experience across multiple platforms. It may also include a solid focus on innovation, such as adding Augmented Reality features or voice interaction functionalities. The beauty of using native apps is that the base work is already done, leaving you free to concentrate on making your service the absolute best that it can be.
At Accedo, we understand that there is sometimes a need to start from scratch, and for those kinds of projects, our experienced Professional Services team can help you build truly bespoke video solutions. But if you are looking to build and quickly launch something yourselves, our SaaS platform, Accedo One, provides access to premium native apps and a highly customizable UX experience that can be configured to suit individual brand requirements.
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