Binge watching has become a buzzword since the advent of streaming and OTT platforms. Users have made this a hobby and prefer to have platforms and apps at the forefront that allow them to enjoy with convenience. Among the many competitors of OTT, Netflix and Amazon Prime have shown a remarkable rise with time as business tycoons. That being said, entrepreneurs are moving in the same direction and plan on building OTT apps that are preferred by the users.
However, working in this direction brings into question concerns that need to be answered with accuracy. For instance, how much does the OTT app development cost? What are the factors to consider when working on this app? Can businesses save money while building such a complex app? Everything holds value in the decision-making process.
That being the premise, we know that businesses prefer to have an OTT Platform app while focusing on cost-saving. And that is not the only criterion they focus on. Quality and cost-efficiency must walk hand-in-hand. Keeping the money-saving and quality in mind, here we bring forth the tips that can assist you in making insightful decisions.
5 Cost-Saving Tips to Consider When Hiring an OTT App Development Company
As the premise is set that cost-saving is a focus when hiring an OTT application development company, while maintaining the app quality, we must explore the possibility. Take a look at the factors that can be modified as per the decision-makers and bring forth an extensive cost difference.
1. Clearly Define Your MVP (Minimum Viable Product)
Oftentimes, entrepreneurss move forward and build the feature-rich app for the audience for streaming. This brings an issues that they forgot to assess. The market and user favrability. You may ask how one can make sure of it. Well, rather than adding all the features together, building the entire app, and launching in the market, they can go for MVP OTT app development.
In this case, you focus on functionality-based features and present the prototype to the audience for feedback. The users offer you suggestions and react to the app, which makes sure it is getting traction worth the investment that can be assessed to move forward with the entire app development process. This way, you pay for feasibility, and once you are sure of the success, you pay for the entire app.
2. Opt for Cross-Platform Development
Keeping the user’s perspective as the priority, it becomes imperative for OTT apps to function across different platforms without any issues. Since people watch their favorite shows on their mobiles, laptops, desktops, and Smart TVs, the implication becomes that your OTT app should be able to cater to all.
That being said, you must understand that building apps for different devices separately would demand 10x the money than building with cross-platform development. The source code remains the same, but the functionality focuses on multiple devices. This way, you save money, time, and resources.
4. Choose a Company with Pre-Built OTT Frameworks or Reusable Components
Starting from scratch seems like a task that would require time and money both. This means, the structure, layout, and source code, all begins and would take time that is more important if the components existed.
However, you can save both by hiring an OTT application development company that brings in pre-built streaming frameworks and reusable components to sprint across and start from with an OTT product. This way, entrepreneurs save time, resources, and money that can be used to market the app itself.
4. Leverage Cloud-Based Infrastructure from the Start
Staying on-premise while managing the data and content storage for CDN delivery would be expensive, and also focuses on recurring annual licensing and server costs. Such a situation not only puts a burden on streaming capabilities but is also susceptible to cyberattacks.
However, you can work with auto-scaling cloud infrastructures like AWS, GCP, or Azure to eliminate all such problems and bring forth an architecture that supports everything. Cloud computing has proven to be a more cost-effective strategy than staying connected to traditional ways. You can save money while hiring a cloud-based OTT app development company.
5. Negotiate for post-launch support in the contract
It is seen that oftentimes businesses negotiate their way into a final contract without post-launch support or one with cost-efficient ways. Similar to this, you can also negotiate with your service provider and get a discount or reduction on maintenance costs to bring the overall OTT app development cost down to the lowest it can reach.
Conclusion
As we wind up the tips on cost-saving when hiring a company with OTT-focused app development experience, we hope the bifurcation assisted you. We advise you to make decisions that are in favor of cost-effectiveness. However, do not make it a priority and compromise on OTT app quality that focuses on the essence of targeting the streaming audience.
Author Bio:
Sabokhon is a professional OTT app developer with extensive experience building industry-focused apps. She brings forth valuable insights into the process to assist entrepreneurs in making better decisions.