While many cable businesses around the globe seem to struggle in keeping their subscribers the number of OTT services is skyrocketing. More and more subscribers run for this type of service and a recent forecast sees 100 million OTT subs being reached in 2015. They must be doing something right, don’t they?
Here is a brief list for you on the elements that I believe make a TV platform successful. It might not be complete, but I believe it summarizes the essence of what drives such a business:
Customer focus: OTT services have – when successful – a relentless focus on providing a great customer experience. That includes the usability of its services, the pricing, the customer service and all aspects of its business. They really want to make the customer happy.
Product innovation: just streaming some TV alone is not enough. A great product is innovative and more than just TV. You ensure that your product is available everywhere (and not only in the living room) and that it is probably bundled with other useful offers (e.g. an internet and mobile flat). Innovation and Bundling are the key words here.
Content rules: when your content sucks, your best service is obsolete. Have the content that your audience is really craving for. When you plan to have a platform build on cheap C rated movies, you get a C rated audience and believe me: there is no money to be made there. Invest in some premium and also niche content. And then you have premium subscribers.
Have money and patience: many believe a TV platform can nowadays be launched on the cheap – given that the technology (and cheap content) is so readily available. However, when you are really planning to make an impact, you better are in the for the long run and you are better willing to invest some decent money. You need to have not just some technology but great one; you want to buy some good content; and you want to invest in excellent customer service. That does not come cheap and does not develop fast.
When you manage to be more than just a commodity and have really wholeheartedly subscribed to the idea of relentless customer service, you almost certainly will make an impact.
Sounds too easy? Well, I admit it does – and that is why many business people these days think it is no big deal to launch a TV platform and go for it. But many of them also fail. Because what might sound so easy, does also involve a lot of work and experience. Selecting the proper technology, training your staff in selling and servicing a TV product, choosing the proper content and offering it in a fashion that is appealing to the audience – that all requires skill, experience and know-how.
So, when you are thinking about having your own TV platform, do not hesitate and contact us: we can make sure that you also will be successful with your TV product. Let us help with our insight and many years of successfully launching TV around the world.
Contact me know if you want to build your TV business.