OTT platforms are the go-to entertainment source for people in the modern digital age. The increased internet penetration has boosted the demand for video content and this has increased the popularity of OTT content. This has also led to an increase in competition in this industry. To be successful in the OTT space, you need to target the untapped sections. Getting into the right niche is crucial to succeeding in the OTT space. Creating an OTT streaming platform exclusively for kids will help you gain an edge in the competition. Let’s delve deeper into how and why you should create a kid’s OTT platform.
Why create a kid’s OTT platform?
Kids in the digital stage are more dependent on online entertainment sources than ever. This audience segment has a higher internet consumption and is also very tech-savvy. They are always looking forwards to new and unique content that can satiate their entertainment needs. If you are still wondering why creating a kids OTT platform is a good idea, take a look at the most prominent reasons.
1. Tapping the fastest growing online audience
You will be surprised to learn that nearly 62 million kids have gone online for the first time in 2018 alone. You can derive a general conclusion from this fact that kids are increasingly using the internet and most of them are exploring new OTT content. Imagine launching a kid’s OTT platform that has all the content that the kids want to watch.
2. Growth in digital ad spend on kids
Another important reason why you should create an OTT streaming platform for kids is the amount of digital ad spend. The aggregate ad spends on kids has surged to $1685 million in 2021 from just $600 million in 2016. This shows a CAGR of over 22% in just a 3 year period.
3. A surge in the kid’s OTT viewership
The global COVID-19 pandemic had forced nations to shut down and kids had to stay indoors. OTT apps became the primary source of entertainment for the kids and this shot up the kid’s OTT viewership. OTT giants like Netflix witnessed a massive jump where the viewing of kid’s titles in India increased by over 100% in 2020.
What does it take to create a kid’s OTT platform?
Creating an OTT video platform for kids is certainly the right way to enter the OTT domain. Selecting the right niche drastically improves your chances of succeeding in the OTT space. With the growing OTT viewership of kids, it is a no-brainer that this segment can be highly rewarding. Creating OTT platforms for this audience segment can be challenging, given the overall competition in the OTT segment. Here are a few effective tips to guide you on how to start an OTT platform for kids.
1. Choose an OTT platform builder
Once you have made up your mind about creating a kids OTT platform, you should look for a reliable OTT apps builder that can turn your idea into a real product/service. You will need to find the right developers or agencies that can understand your vision and create an exceptional OTT portal keeping the targeted audience in mind. However,OTT app development can be quite expensive. One of the most cost-effective solutions is to choose an OTT platform builder that allows you to seamlessly design and deploy your OTT media service.
2. Create and source relevant content
Creating a good OTT platform requires an excellent design that can facilitate a great user experience. However, it won’t help much in the growth and success of your business if you fail to focus on the core element, i.e., your content. Content plays a crucial role in the success of your OTT channels because ultimately people will visit your platform to watch that content.
Once you have your OTT channels ready, you must develop and upload relevant content for your target audience. You can either create original content or legally source it from other parties. Promoting your platform also plays a key role in acquiring a new audience.
3. Select a suitable monetization model
The ultimate goal of any business is to generate revenue and be profitable while serving your customers. Choosing the right monetization model is very crucial when it comes to generating revenue from your OTT endeavour. There are plenty of monetization options that you can choose from including SVOD, AVOD, TVOD, etc.
Leading OTT platforms like Netflix rely on the subscription (SVOD) model for monetizing their content. Some OTT channels offer free content to their audience and generate revenue using advertisement (AVOD). These two are among the mainstream monetization options that most OTT platforms rely on.
Conclusion
Building a kids OTT platform is certainly the right approach for entering into the OTT industry as this segment is still untapped, and the competition is comparatively lesser. Choosing the right OTT platform provider can help you create a dynamic kid’s OTT channel that has an excellent design and offers a great user experience.
Author Bio:Interested in digging deep into video/audio streaming media tools and Love to blog, discuss and share views on the latest technologies tips, and tricks. He’s also passionate about photography loves to capture the pure essence of life.
