Explained Simply13th September 2024
OTT media services are taking over the entertainment, internet, and mobile streaming services by storm. From bagging the highest user engagement (growing continuously) to topping the revenue charts. Popularity and adaption are a byproduct of all these shiny factors. But, then the OTT app development costs are a looming factor because of the frenzy tapping and flashy revenue streams. Investing in market-leading OTT app development services is a no-brainer. This is also because the OG factor of watching and accessing the content ANYWHERE, ANYTIME is winning the users’ hearts. And, on top of that OTT applications are getting better and better day by day with tech-face-lifts, and feature polishing happening every time. So, let’s dig in further and see how much and what factors influence the cost of development OTT app of this SUPER-HIT genre.
What are OTT Apps & OTT App Development?
Binging on the GO is not merely a trend but a hardcore lifestyle attribute for folks across the globe. What was once a Wait-to-Watch aspect is now the Why-Wait-to-Watch phenomenon. Plus, it is getting better and better day by day. From watching anywhere anytime to being recommended to now having personalized thumbnails and entire watch lists shot your way. This is how big of a game changer and transformer OTT app development is becoming in the business market is no short of awe.
So, without further ado let’s quickly run through what OTT apps are. Here we will give you two explanations. One will be a technical explanation and the other one on a natural, relatable tone to make it a quick takeaway explanation for you.
OTT is a platform that streams a variety of content directly over the internet cutting off the mainstream and conventional channels. Content is directly delivered via the internet onto the preferred device of the users. Here content is inclusive of movies, web series, and even live streaming of events.
Coming to the casual explanation. These apps are a virtual spread of content played over the internet to be directly streamed on the device preferred by the users. However, out of the many USPs, the topmost is the convenience of watching and accessing content as per the will and preference of your users.
Now that you know what OTT applications are? Let’s now quickly understand the OTT app development.
The OTT app development process is a procedure that includes coding, designing, and developing applications that stream content online. The content here will be inclusive of movies, web series, TV Shows, and live broadcasting of events and shows. The process includes adding features, monetizing apps, integrating technologies like AI, etc. This shall be done by leveraging the expertise of OTT app developers.
Having said that, now let’s quickly tap into the trends and features of OTT platform development.
Trends & Features to Look Out for OTT App Development in 2024 & Ahead!
For businesses, it is a golden rule to win and dominate the user’s interest. This is how you keep the users/target audience coming back. And, the same goes for OTT applications. This means there has to be a route for this. Here, the route is to take over the trends.
However, integrating trends means winning the hearts of your target audience. But, then you have to also know that this affects the overall cost of developing an OTT app.
More so, to own the power and hang on tightly to the future of OTT. One should keep an eye here on the trends is one way to do it. Skim through to know more;
- AI Integration in OTT App Development
- Personalized and Real-Time Offerings
- Multi-Platform and Cross-Platform Development
- 5G Adaption
- AR/VR Integration
- Advt Powered Streaming
- Intuitive & Interactive Interfaces
Whereas, the trends and features keep on changing and you need to keep an eye to bag in what suits the best.
Quick-Tip: Want to bring down the OTT app development Cost? Integrate the trends that rightly affect, attract, and improve the user experience for your target audience.
It is now time to get down to dig into the cost of development. But, before we step into the figures. Let us hand you out list of features you will need to integrate. Nonetheless, this will also affect, and influence the development cost.
What Factors Affect & Influence the OTT App Development Cost?
Straight away let’s get down to the list of the features.
- Complexity
- Features
- Tech-stack
- Interface
- Tech-advancement If Any
- AI Integration
- Custom OTT app development
- Theme
- Design
- UI.UX
- Extra features
- Monetization of the OTT
But, but, the cost depends on the project requirement, the features the client chooses, and also the OTT app development company you choose.
With that, now it’s time to get down to the figures.
How Much Would OTT App Development Cost?
The cost depends on multiple factors as you know by now. But, we shall still give you an estimate of the cost.
Bracket OTT application development cost – 60K USD to 75K USD (Bracket figure, to get an exact quote let’s discuss your project)
Whereas the aspects mentioned below influence the overall cost
- Native Mobile Apps (iOS + Android)
- Website (Next JS)
- Android TV
- Apple TV
- Fire TV
- CMS Panel
See, the actual and precise figure depends on the personalization, of the OTT app builders you hire. On the other hand, to get an exact quote, you can get in touch with us. As customizing the app would be add on to the overall cost.
Reasons: Why You Should Invest in OTT App Development?
The frenzy, growing adaption, craze, convenience, revenue, buzz, etc. are of course some of the factors that power up the odds. But, then still let us give you 5 staunch reasons why you should invest in OTT development.
- Firstly, the market is booming. Claiming the share in the revenue, market domination, and popularity is a no-brainer.
- Secondly, the boom is unbreakable. It is not like a trend to fade away or a frenzy to slow down. OTT app development services are taking over from left to right.
- The world is as such becoming a globe within reach. And, if businesses do not offer services targeting a global market it is nearer to falling off. Whereas, with OTT applications you cannot go wrong with this.
- The revenue pool is greater than it appears. The OTT market size is to hit a whopping high of 482.45 million units by 2030.
Thus, all we can say is that the odds are in your favor and this is the right time to take over.
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Wrapping Up!
Get ahead of the competition, earn big, and have the investments flowing in the right genre. OTT is here to stay and your app can be as good and fame-driving as Netflix, HULU, or Hotstar. Because with the right resources, expertise, and services you can not go wrong. However, the main step is to choose the right OTT app development company.
Frequently Asked Questions
The factors like features, customization, tech-stack, themes, and any addons that one goes with. However, the OTT app development cost is subject to a lot of factors and varies according to the project.
The cost depends on factors like the company, your requirements, and other factors. So, all you need to do is get in touch to know more. Also, time is a factor here so the OTT app builders you choose would also impact or influence the cost.
No, as such the project requirements from both ends are discussed which includes the cost analysis and other processes. However, costs like extended post-launch support, etc. shall be an add-on.
Security and compliance are as such a given factor and inclusive. But, with additional extensions or advanced requirements of the same. The costs shall be a matter of add-on.
The cost of OTT app development difference is a matter of some factors like personalization, time frame, developers and company chosen, etc. However, to know the exact cost give us a call.
