Even before the pandemic, the online education market was expected to reach US$ 350 billion by 2025 with an aim to adapt technology and make learning flexible. Backing this, Business Insider also reported that the global investments in online education had already reached US$18.66 billion in 2019 itself. But the coronavirus outbreak really boosted the educational streaming platforms and took them on another level. The pandemic made OTT platforms the cornerstone of the education system.
A data report published by Udemy – a top OTT platform for education said that since the pandemic there has been a 425% increase in enrolments, 55% increase in course creation and 80% increase in usage from businesses and governments entities. These statistical values make it evident that OTT platform for education is the next big thing!
So, if you are a digital investor planning to set up an OTT platform for education or a video creator wanting to host educational videos online – then you have made the right decision! Nonetheless, before you go ahead, you must know what are the important factors that should be taken into consideration while launching an OTT platform for education.
Here Are the Five Things You Must Consider Before Launching Education OTT Platform:
1. Target Audiences
In any given market understanding the target audience is the key. However, as video creators or business owners of an educational OTT platform it is important to thoroughly analyse the target audience. You must also know that OTT allows robust targeting and measurement, analysing every individual’s information. Hence, it is possible to target the audience discreetly and directly. From creating mailers to web marketing or making a sales strategy – you must identify and survey your audience. Educational OTT platforms commonly target their audience by:
Creating A Brand Identity on Social Networking Channels
Social networking channels are valuable for OTT platforms. The key is to be consistent on all social media channels to create an effective brand identity.
Sponsoring Events for the Audiences
Sponsoring or even hosting events can be a great way to target audiences. Emailers can be sent to invite audiences and interested individuals can be targeted.
Offering Free Classes or Discounts
Another way of capturing the target audience is by providing free classes or discounts. OTT platforms for education may also host free classes, courses or provide offers to attract the target market.
2. Centralised Video CMS
Having a safe and centralised video content management system or video CMS is another thing that you must consider before launching your OTT platform for education. The video CMS system should be purpose-built and enable users and video creators to manage and deliver video securely. Hence, having a centrally managed Video CMS makes sense as it offers to record lectures, add classroom videos, and even integrate 3rd-party media assets. Listed below are some of the perks of having a centralised video CMS:
• Users Can Store Relatively Larger Amounts of Videos
• Video CMS offers support for larger HD video files
• Optimizes Search Functionality
• Ensures An Organized Structure
3. Revenue Model for Online Educational Platforms
Creating and selling online courses through educational streaming platforms has gained immense demand and they are one of the top ways to make money online. But, owning an OTT platform for education is different and needs to have a defined revenue model. Live streaming for educational content or online courses offers one of the best business models to digital entrepreneurs, however, you must ensure that you have a structured revenue model. Listed below are some of the revenue models for used by top online educational platforms:
AVOD stands for Ad-Supported Video on Demand. This refers to monetization of video services that are made available to the end-user at no charge but rather show advertisements in any manner to the video on demand.
SVOD stands for Subscription Video on Demand. This refers to video streaming services that users must subscribe to in order to access.
TVOD stands for Transactional Video on Demand. It lets viewers purchase content on a pay-per-view basis
Server-Side Ad Insertion (SSAI)
SSAI is a process used to insert ads into a piece of high-quality, long-form content. It is similar to broadcast TV advertisements.
Third Party Ad Integration
At times OTT platforms use third-party ad integrations. This means an online ad in which a website operator or publisher presents content to the users.
4. Choosing Reliable Sources
Whether you create video content; have a live streaming for education or want to launch an exclusive OTT educational video platform – choosing reliable sources is essential. Technology advancements, virtual students and stimulated learning through online platforms are on rise. Choosing an online learning platform that is secure and reliable is extremely important.
So, how to launch a secure OTT platform or choose a reliable online video platform to host your videos? Here are some of the pointers you must take into consideration:
• Offer Technical Support & Domain Control
• Ensures Encrypted Streaming
• Use Global CDN (content delivery network)
• Robust Streaming API
5. Availability Of Analytics
Before launching an OTT video platform for education also consider the availability of analytics. Educational video platforms with analytics help the video creators, course instructors, IT administrators and the owners of OTT platforms. Through analytics, content can be moderated and the data can help evaluate the demand of specific content. This does not only help the teachers and the students to have an open learning environment, but also makes space for revenue generation and business sense.
Offering flexible learning technologies and advanced AI driven methods of learning through OTT platforms is significant for both educators and students. So, if you are interested in launching your very own OTT platform for education make sure you take care of the above listed five considerations. Speak to an expert from CONTUS VPlayed for Education