When the Covid-19 pandemic struck the world, global OTT users accounted up to1,967.24 million in 2019. It grew to 2,130.41 million in 2020 and 2,280.27 million in 2021. It is projected to reach 2,709.02 million by 2025.
As the viewership is increasing, so is the demand for an OTT platform that will entertain the masses. If you are planning to start an OTT business, it is the right time to launch it internationally.
In this article, we are going to discuss the top 6 factors that you need to consider before launching your OTT business internationally.
1. Multi-lingual and wide variety of video content
While launching OTT service globally, it is imperative to cater to the languages of the masses. Chinese is the most widely spoken language in the world with 1.3 billion native speakers followed by Spanish with 471 million native speakers and English with 370 million native speakers. Hindi, Arabic, and Portuguese closely follow.
As an OTT platform provider, catering to the video entertainment preference of the audience speaking these languages will increase the viewership. The audience you are targeting to bring onto your OTT platform should be able to find movies, television content, and web series on your OTT solution that caters to their preferences. The collection should be vast so they can choose what they want to watch and have enough content to choose from even if they use your OTT platform every day. Also, if you are targeting specific geographies, the video content should cater to the taste of the masses in those countries.
2. Offered dubbed content and subtitles in video
It is crucial to offer language-specific content to your target audience to gain substantial users initially. You can make this possible by providing subtitles in the video content. Subtitles of multiple languages that are widely used among all your target audience groups should be made available. This ensures that anyone can watch anything at any time.
Audiences who prefer a wholesome viewing experience with only audio and video, and are not inclined to read subtitles should have the option of watching dubbed video content. Movies and web series that have dubbed content in multiple languages can be made available on your OTT platform. Subtitles and dubbing eliminate language constraints for your viewers and make your OTT content favorable to a global audience.
3. Complying with taxes and regulations
Taxes and regulations for the entertainment industry are different in different countries. It can even differ from one state to another. Every OTT-business provider should comply with the rules of the land to cater to its audience. Since monetization for the geographies is based on the subscription models made available to the region and the expenses in the form of taxes and regulations for the same, it is imperative to carefully assess them.
This assessment is not only required to gain a complete understanding of the finances. The pricing models to offer, expenses that will be incurred, and profit margin but also to provide a clear picture of the taxes to your OTT platform customers. All subscription plans offered to your audience should have a clear break-up of the tax brackets as per the tax regulations and other protocols of the land. Transparency will create trust and forge long-term brand loyalty.
4. Impressive and easy-to-use user interface
With cut-throat competition in the OTT market, the easiest way to stand out from the crowd is to build an OTT platform that is easy to use. The layout has to be simple yet pleasing to the eye. Minute details should be taken into consideration and worked upon to provide an exceptional user experience. While creating your OTT platform you should ensure that the users can easily navigate and find what they are looking for. At the same time, there should be a lot of things on the screen to make it look cluttered. The layout should be pleasing to the eye and users should be encouraged to spend long hours.
Here are a few tips to building an OTT platform that is catchy & easy-to-use:
- The simple process of a free trial
- Use graphic representations and use words minimally
- Provide the option to select the language on the home page/sign-up page as an initial option. Also provide this option in all the pages of the OTT platform on all versions – web, and app. This will reduce the bounce rate.
- Keep the authentication process simple.
- Design an impressive UI that represents your brand and is pleasing to the eye
5. Offer multiple subscription plans
Apart from these subscription plans, there should also be other plans that cater to the masses so that the common man can use OTT services. As you launch OTT services, you can have local and global subscription plans so people from all segments can subscribe to your OTT services.
Offering multiple payment gateways and multiple currencies is equally important to provide a hassle-free payment experience. Offer widely used payment methods in the geographies you are targeting and also include the frequently used payment methods across the globe. Remember, there could be subscribers even from the states you are not targeting yet who will be able to subscribe to your OTT platform if the laws of their land are in accordance with any other countries that you are catering to.
6. Multi-device support
When you build your own OTT platform, you should cater to the smart devices like mobiles, laptops, smart tv that the audience uses to access OTT for entertainment.
Though launching OTT services internationally can prove to be a complex task, the dividends pay off the effort. It is important to understand the target market, how OTT works for them in terms of regulations, taxes, lifestyle & entertainment preferences, and subscriptions.