Launching a new streaming service? Here’s what you need to know!
Streaming services are a massive business nowadays, and there are many options for platforms on the market. However, there is always room for one more, and this could create a fantastic business for you. If you want to learn more about what needs to be done when launching a new streaming service, keep reading.
Find a niche
One of the most important things you need to do is decide on a niche to fit in. You can’t expect to compete directly against general streaming giants like Netflix or Amazon Prime initially. Instead, you should look to coming up with a niche that you can fit in.
For example, Shudder is a streaming service built specifically for fans of horror, thriller, and suspense movies. While some platforms might have a modest selection of films like this, there is always a chance that a film addict could blaze through them really quickly. Anyone who really likes this type of film should look into a subscription for a niche platform such as this.
It is also a model that could work in other areas. For example, parents might want to invest in a kid-friendly streaming platform that they can use to entertain their children each day. Choosing to work to fit into a niche like this with a new streaming platform gives you the ability to grow a small dedicated audience and then expand out naturally.
You need to make sure that you have the technical support to back up your plans to launch the content. The infrastructure here is key, as no-one likes it when a streaming platform goes down for any length of time. If you do not have the technical know-how on your team to set up the software needed for the platform, you are going to have to reach out to experts like those at Red Bee.
This need for high-end software often goes beyond just the one platform. You need to make sure that it will be compatible with different regions, in addition to various smart TVs. A mobile app is also a must for streaming nowadays, and you will have to include audio description and maybe even additional language support. This is going to be a big job, and you need the right people beside you to help out.
This might prove to be one of the most difficult parts of setting up the new service, but you need to make sure that you get your subscription model right. People want to ensure that they are getting a good deal with their streaming services. Since they will most likely already be signed up to some of the most popular platforms, you need to make sure that you can offer a competitive service.
Many companies have already received criticism for pricing their services too high and not offering a good level of content in return. You need to make sure that you find the right balance between price and content on offer, and that can be very difficult to do correctly.
Before you know it, you could have a streaming service that is ready to launch. However, there is no doubt that this is going to be quite the endeavour to launch successfully. In a highly competitive field like this, you need to ensure that your streaming service is going to be near-perfect, as well as having the draw needed for customers to sign up. Think carefully about what form you would like this service to take, and get ready to introduce the world to your new streaming platform.