OTT App Development Cost and Features
Discover the essential features and costs that are pivotal for building an OTT app.
OTT apps have become the new rage, with people ditching traditional cable TV in favor of the convenience and flexibility of streaming.
Consumer preferences, evolving technologies, and the pandemic have all contributed to the rise of OTT app development.
You see, there are these big names like Netflix, Amazon Web Series, Hotstar, Hulu, etc. They’re like the superstars of online streaming. They do something unique. Instead of fussing over all the technical stuff, they just focus on creating awesome content and building their brand. They’re like storytellers, making sure you’re hooked to your screens.
And you won’t believe it, over 65% of the households in the US use these OTT services every single day. On average, people spend more than an hour and a half watching their favorite shows through these applications.
Thus, if you are in the entertainment business, it’s time to get into the potential of OTT platform development. There’s a lot of potential here, and people are loving it. It’s like having your own personal movie theater, right at your fingertips.
Market Stats of OTT Platforms
- According to Statista, OTT media revenue was $135.1 billion in 2021 and is expected to reach $235 billion by 2028.
- The global OTT video market size was valued at $238 billion in 2021 and is expected to top $476 billion by 2027.
- Netflix is the largest OTT provider in the world, with more than 150 million paid subscribers.
- OTT video advertising revenue is expected to reach $176.6 billion in 2023.
- The total number of users in the OTT video market will be about 4.22 billion in 2027.
OTT Platform App Development Cost
When it comes to creating an OTT application, one of the big questions that business owners and entrepreneurs have in mind is the cost. With the world moving more and more toward online video streaming, the demand for OTT platforms has shot up like skyrocketed. And with that comes the question: how much does it cost to build an OTT app?
Well, figuring out the exact cost isn’t easy without knowing the project requirements. It’s a bit like cooking a meal — the ingredients and the recipe you choose can make it expensive or affordable. So, when you’re thinking about building an OTT platform, it’s essential to understand the possible expenses.
To give you a rough estimation, development costs can range from $20,000 to $40,000 or more, depending on a number of factors:
- UI/UX design of the app
- Features and functionalities you want to integrate
- App platforms (Android, iOS, or both)
- Geographical location of the company you choose.
Key Features to Include in OTT App Development
Here are some of the key features to include in OTT platform development.
- Easy signup
- User profile
- Multilingual content
- Search and filter
- Watchlist
- Screen mirroring
- Social sharing
- Offline playback
- Payment integration
- In-app purchases
- Subscription management
- Push notifications
- Personalized recommendations
How Can XongoLab Assist You With OTT App Development?
In a world where entertainment is just a click away, XongoLab stands as the master key to creating immersive and cutting-edge OTT apps. Imagine a universe where your vision for an OTT app becomes reality and the door to endless streaming possibilities swings wide open. At XongoLab, we are your navigators through this digital realm, pioneering the path to success in the media and entertainment industry.
Whether you’re a visionary entrepreneur or a business looking to dive into the realm of on-demand content, we are the architects who can bring your ideas to life. Our team transforms concepts into seamless, user-friendly platforms that captivate audiences, ensuring your content shines brightly in the ever-expanding galaxy of online entertainment.
