The global market of OTT video is taking leaps to grow rapidly, but the competition level is higher than ever with more market players emerging to share the viewing time of audiences. Another challenge for emerging platforms is that they have to exist and compete directly with the top players like Netflix, Hulu, Amazon, HBO, Starz, and others.
With the number of OTT platforms growing every day, it has become quite difficult to acquire value proposition and visible differentiator. Even, audiences right now are subscribed to multiple channels at once, which further reduces the option of finding content or service gap to fill in.
Amidst all these challenges, there is one hope for emerging players that attracts them to the industry.
No need to be number one to run a profitable OTT platform
While top positions have been firmly acquired by top market players like Netflix and Amazon, you can stand out in the market by targeting a niche content for a particular segment of consumers. Niche content is the smartest way to set your OTT platform apart from the regular competition. And, when you stand out of the competition with a solid customer base, it lets you utilize different modes of monetization for revenue like satellite tv advertising.
Niche content means that you only cater to the needs of a small segment of the market. This helps to build more dedicated and loyal users than attracting random consumer crowds with general content. For instance, you can focus only on high-quality documentaries, romantic content or any other niche genre of content.
The easiest way to acquire a niche market is through regional or local content. The hidden regional contents are called dark markets, as they don’t receive an optimal distribution. Using a thorough analysis and discovery of a niche market, you can build your own empire of several millions of users.
Use your strengths to pick the right battles
When you know your strengths, it becomes easier to pick a niche market to attain and retain users. You can begin producing original content in a niche, which won’t be available on any other platform. The compelling nature of your original content will attract audiences and make them loyal to your channel, even if they use other platforms simultaneously.
The echo chamber of content
Based on the niche interest of a particular market segment, you can define a small yet effective range of content types. For instance, you can serve the sports viewing needs of consumers available in a particular location. Just know the type of sports people dominantly watch in that region. Then, you can broadcast the content and use a location targeting advertising platform to monetize your viewership.
The concept of niche OTT videos shows the real opportunities still available in the market. While on the surface you see giant players dominating the market, an in-depth analysis shows specific needs of audiences, which you can fulfil.
So, plan your content strategy smartly for a sustainable OTT business model.