Creating the perfect RFP for OTT: A Comprehensive Guide (Free Template)

The Request for Proposal (RFP) process can be daunting, but with the right approach and understanding, it can significantly streamline the vendor selection process and ensure you get the best possible solution for your OTT business needs.

In our 20 year experience in the streaming business, we have seen hundreds of RFPs and built a guide on how to create and execute a successful RFP - all based on our experience and best practices to ensure no stone is left unturned when describing the requirements for an OTT streaming service.

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First things first: Understanding the scope

Before diving into the RFP, it's crucial to have a clear understanding of your OTT project’s scope. This includes knowing what your project entails, what it does not, and the specific outcomes you aim to achieve. Clearly define your goals, requirements, and the problems you seek to solve with the OTT vendor coming in to help you build the streaming platform. This clarity will guide the entire RFP process and ensure you stay focused on your objectives.

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Customizing the RFP Template

Every project is unique, so it’s important to customize the RFP template to fit your specific needs. We have compiled an immense number of features, platforms and other requirements for you to modify in our OTT RFP Template. Modify the document to reflect your business requirements and unique scenarios - this might include adjusting sections, adding specific questions, or tailoring requirements to better suit your business objectives.

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Key Components of the RFP

1. Executive summary

Summarize the purpose of the RFP, your company’s future plans, and the desired results from the vendor. This section sets the stage for vendors to understand your overarching goals.

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2. RFP process requirements and format

Outline the process for participation, including key dates and submission guidelines. Make sure to specify the response format, which might include technical architecture, compliance requirements, project plans, and support and maintenance details.

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‍3. Introduction and background‍

Provide a brief introduction to your company and the background leading to the vendor search. Highlight market conditions, competition, and the need for innovation and development.

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4. Current state

Describe your current setup, including what is working, what is not, existing services, challenges, and opportunities. Providing an overview of current and forecasted users, monetization models, live platforms, and existing architecture will help vendors tailor their proposals to your needs.

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5. Specification of requirements

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a) Platform requirements
Specify the platforms your streaming service will support, such as Amazon Fire TV, Android, Apple TV, and more. This ensures vendors understand the scope of device compatibility you need.

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b) Content support requirements
Define the types of content your service will handle, like 24/7 live streaming, video on demand (VOD), live events, and external live feeds. This helps vendors know what kind of content infrastructure to propose.

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c) Back-end Requirements
Highlight the essential back-end features needed, such as:

1. Metadata editing: The ability to modify content details
2. Ad manager: Tools for managing advertisements
3. Video CMS: A system for organizing and managing video content
4. Analytics: Insights into user behavior and content performance
5. Multi DRM: Digital rights management to protect content

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d) Front-end requirements
Detail the front-end features, which improve user experience, such as:

1. Navigation: Intuitive menus and clickable images
2. User Interaction: Features like "Continue Watching," favorites lists, and personalized watch lists
3. Content Display: Showing relevant metadata and providing search capabilities

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6. Service level requirements

Define the level of support you expect from the vendor in various operations, like account management, migration from previous solutions, payment processing, ads setup, technical configurations, branding, content management, legal compliance, quality assurance, store and release management, support and maintenance, reporting and analytics, product management, and customer marketing.

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7. Evaluation and award criteria

Establish how you will evaluate proposals, focusing on:

1. Economy: Cost-effectiveness and total cost of ownership
2. Fulfillment of requirements: How well the proposal meets your needs
3. Workflow and delivery plan: Vendor’s ability to commit to and deliver on the RFP
4. Overall evaluation: Quality of services, willingness to collaborate, and supplier availability
5. Supplier evaluation: The vendor’s experience, references, and market success
6. Terms and Conditions Include your company’s terms and conditions to regulate the business relationship between you and the supplier

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Taking Action

Once your RFP is customized and ready, distribute it to a select group of vendors - either my email the vendors of your interest, or publicly announcing the issuing of RFP (on your website, news, LinkedIn etc). Ensure that the vendors have enough time to prepare their responses and schedule presentations if necessary. Evaluate the proposals based on your predefined criteria and conduct negotiations to finalize the contract with the chosen vendor.

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The only template you need

A well-prepared RFP is a powerful tool to help you find the best vendor for your needs. Get your copy of our OTT RFP template and get started straight away.