Television shows no longer enjoy the same popularity as they seemed to years ago. There is hardly any audience left for these series as users are switching to other digital channels. People are no longer interested in those typical shows often interrupted by a number of commercials. Now, customers seek unique content that they can watch as per their convenience rather than according to the set schedules. Hence, online streaming apps that offer a plethora of series and movies that resonate with the demands of Millenials. In fact, binge-watching is the new trend that is only becoming popular with each passing day. Moreover, with the global lockdown, these media streaming platforms have witnessed exponential growth, be it Netflix, Amazon Prime, or any other portal.
Users simply need to buy a subscription of these channels, select the plan that suits them, make the payments and they can watch their favorite shows anytime, anywhere. Considering the type of content that intrigues people these days and their thirst for something fresh every week, these online platforms will soon replace televisions completely.
If you are planning to launch your video streaming service, then this is the perfect time to try your luck. However, before you start with a mobile app development service, there are a few things that you must know. To help you understand this industry better, here are a few key points that you should go through. Have a read.
Understanding the Market for Online Streaming Apps
Gone are the days when we used to wait for our favorite T.V. shows all day and watch it on television screens with untimely commercials disturbing our experience. Thanks to technological evolutions and digital transformation, the media & entertainment industry has taken a significant leap and for all the good reasons. Many business giants are investing in online streaming apps to offer user-engaging and smart content. They are making wise decisions to cover more markets and reach the maximum audience and the best example is Netflix. This mobile app has gained immense popularity worldwide and has inspired many entrepreneurs to come up with a medium with unlimited content that people can watch anytime. There are no commercials and some streaming apps even include live sports, serving users of every age group and demographics.
Although Netflix was the pioneer in this category and covers over 190 countries, there are more than 50 options available at present and more ideas are coming up soon. Their libraries include movies, TV shows, sports, documentaries, and exclusive series produced for these channels only. Have a look at these numbers and statistics that will certainly lure you to step into the market without any delay
- With about 150 million subscribers, Netflix accounts for 8% of the time spent by viewers watching online videos.
- The app generates almost 40% of the global online traffic with annual revenue of over $15-18 billion.
- All other online streaming apps are enjoying revenue growth of over 40% every year.
- By 2024, the market for on-demand video apps will reach $73.9 billion.
- The traffic on these portals will continue to grow by 50% every year.
What Makes Netflix a Global Success?
The success and popularity of Netflix is no hidden truth. No matter what profession you are in, what age group you belong to, which country you live in, Netflix is constant. So, what is the secret behind this fame and success? Well, we have the answer to that and we are sure these points will inspire you to introduce the equally effective app. Here we go:
Original Concept: As we said that Netflix was the first of its kind, a mobile application that coined the concept of online streaming. Application development firms build apps that offer high-quality videos and engaging content to viewers. Yes, you cannot replace this position but can come up with an idea that stands out from already existing options.
24*7 Service: This was the primary motive of Netflix – to enable users to watch their favorite shows at any time. There are no interruptions, no unwanted ads, and top-notch service all the time. You can even download videos to watch later without the internet connection.
Free-Trial Period: Netflix has taken a smart move by offering a one-month free trial service to users. They can select any plan from the options given and enjoy 30 days of free services. If they liked the service, they can subscribe to it by making the payment.
Ad-Free Content: You can watch anything on Netflix without worrying about ads and commercials that often hinder the fun while watching your favorite movies or shows. This surely makes binge-watching more enjoyable.
Ratings & Reviews: The ultimate goal of any app is to keep the users happy and retain them for long. Netflix preens itself for impeccable user engagement and all the credit goes to seamless app design, easy navigation, and top-notch quality. The app showcases amazing reviews and feedback from viewers.
What Are the Essential Features of an OTT Video Streaming App?
For an app to be successful, it must comprise a set of excellent features that collaborate together to offer flawless services. Before you kick start your journey to launching an online streaming app, you must be familiar with what you should offer to users. Have a look:
User Registration: Like any other on-demand app, the OTT app also requires users to get registered through their social media account, email id, or phone number. Once they are signed in, they can manage their profiles and other details on the platform.
Video-Sharing: As these apps are mostly integrated with social media portals, users can share or receive videos or links with their friends who use the same app. This will make the user experience more enriching and entertaining.
Multi-language Support: If you need to reach a global audience, then it is essential that your app supports multiple languages. Allow users to watch the videos in the language they prefer.
Multiple Device Support: Your app should be compatible with all the devices and platforms. Therefore, go for hybrid app development to get an app that is responsive to both Android and iOS operating systems and also can be accessed through phones, laptops, tabs, etc.
Live Video Streaming: Live streaming can add value to your app. There are many events and shows that users want to watch live but they couldn’t, whatever may be the reason. Hence, tie-up with the makers of these shows and include live streaming of sports, fitness sessions, stand up shows, and more.
Secure Payment Gateway: One reason that users find it difficult to rely on online platforms is the risk of cyber theft. Ask your mobile app developers to ensure the security aspects of the app and create a payment gateway that is free from any infringement.
Download: Netflix offers its users a download feature so that they can watch movies and shows while traveling or anywhere without the internet connection. Give an option to download the videos which can be removed after a specific time period.
Create a Video Playlist: With so many genres and regional shows on one channel, the audience can have a hard time remembering the videos they would like to watch. So, include a playlist feature where they can add all the movies and shows that they find interesting.
Reviews and Ratings:
No app or service can attain success without the support and feedback of its users. Therefore, add a space where viewers can submit their queries, reviews, and ratings so that you can enhance your performance as per their demands.
Push Notifications: This is a common feature that you can see in any app. Push notifications update users about all the latest offers, discounts, new videos, payment dates, etc.
We, at A3logics, have a team of expert developers who are proficient in building feature-rich apps. Our quality assurance service providers keep a close watch on every aspect of the app to ensure that you get nothing but the best product.
- Video Resolution
- ChatBot Integration
- Traffic Analytics
- Ad Management
- Banner Ad Display
Technology Stack for Video Streaming App Like Netflix
Here is a look at all the key tools and technologies that are used in media streaming app development :
Java, Python, Swift, Kotlin
MySQL, MongoDB, Cassandra
What Are the Factors Affecting the Cost of Online Video Streaming Mobile Apps?
There is no one answer to how much it would cost to develop an app like Netflix but based on various components, the final cost is decided. To make things simpler for you, we have listed the primary factors that we consider while quoting the total cost.
App Features: This works on a simple rule. The more features you will add, the costlier the app would be. So, the best way is to opt for basic features in the beginning and once you get an audience, update the app regularly.
App Platform: The platform for which you want to build the app also matters a lot. The platform that you select makes a considerable difference between the amount as Android development is more expensive than iOS. Also, if you want an app that is compatible with all the devices, you will have to shell out a huge amount.
App Design: No wonder that complex designs would put a strain on your budget and it won’t even engage the audience. Thus, the better idea is to pick a simple UX/UI design for the app that is easy to understand and navigate.
Location of the Development Company: The location of app developers also affects the final cost. If you seek app development services in the USA, you will have to spend more than what companies from India demand.
Resource Team Involved in the Development Process
We are immensely proud to say that A3logics has combined expertise with experience perfectly. Our team includes professionals from different domains who will leave no stone unturned to deliver you an app that stands out. The team that will work on your project will consist of:
- 1 UX Designer
- 2 Android App Developers or 2 iOS App Developers
- 1 Backend developer
- 2 Quality Analyst
- 1 Business Analyst
- 1 Project Manager
How Much Does It Cost to Develop an Online Streaming App?
We have mentioned the range of costs for every development phase. Based on whether you want a simple app or one with advanced features, we have specified the minimum and maximum amount.
130 – 145 hours
$5,000 – $15,000
850 – 950 hours (Android or iOS)
$30K – $50K
$40K – $50K
$28K – $38K
With quality analysis and add-on features, the numbers will only rise.
Here is everything that you need to know from features to cost. Here we have considered Netflix as the demo app if you want you can get Watchseries. to alternative app models too. With some additional functionalities you would have to yourself what you wanted. Yes, comprehending all the aspects is complicated but the end result will be worth all the efforts
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