Since the world has almost shut down due to pandemic, the usage of online video streaming apps such as Netflix, Amazon Prime, Hulu has increased tremendously. The NPD Group says the weekly usage of Netflix rose to 72% in the United States since Covid-19. Moreover, in April, Netflix reported the addition of a record of 15.77 million paid subscribers globally in the first quarter which is double the new subscribers it expected. Due to this growth in popularity, video streaming services have become a highly competitive industry segment. Let’s first see what ‘Streaming’ means and what video streaming apps do?
Streaming refers to a method of continuous transmission of audio or video files from a server to a client. Streaming is what happens when users watch TV or listen to podcasts on devices. Streaming is real-time and is different from downloading. Video streaming apps basically stream video files from the server and also allow you to download videos on your local device.
This entertainment media industry is going to be the next big thing on phones and other devices. It is beneficial for people to make a handsome investment in the field to generate a fair deal of revenue in return.
Here’re some of the statistics for understand the market value and user for On Demand video streaming application like Netflix.
Source: Video Streaming (SV0D)
Source: Video Streaming (SV0D)
Ever thought why Netflix is so popular and how you can stand up in such a competitive market? Let’s identify the features of on-demand video streaming apps.
The app should allow easy registration and login process. It should integrate social media login and sign-ups rather than the tedious process of typing email addresses and passwords. This helps in saving user’s time and not letting them lose their patience over login and sign-ups.
A video streaming app should be able to track what content is of interest to the end-user. The app should be able to pull content based on what user searches, their previously watched shows or movies, saved content, and downloaded content. This will help in the promotion of content as well as getting more views from users.
An on-demand video screening app such as Netflix must have various subscription plans and multiple payment options. After all, this feature is the heart of the app for the product owners as this is going to generate revenue to them. Moreover, apps must allow payment through multiple options such as Cards, Wallets, UPI, Net banking, etc to provide hassle-free onboarding.
It’s not a big secret now that UI/UX plays an important role in the success of an application. The design of the application highly influences how people feel about your application. A video streaming app should have easy navigations, simple design, content-focused, and highly interactive.
Read More: Top UI/UX Trends for 2020
Users should be updated about their shows, subscription plans, missed episodes, or newly released content based on their interests and previously watched videos. Push notifications are easy to implement and highly beneficial to keep transparency between the app and users. All you have to do is to keep track of user’s activity and send notifications at the right time, this will prevent you from losing your audience and keeping them engaged.
On-demand video streaming apps like Netflix are always high in demand because it allows users to watch videos from any platform such as a tablet, desktop, or mobile phone. You should ensure that your video streaming app is accessible to users all the time from any platform.
The cost of development of video streaming apps depends on many factors such as the quality of the application, UX design, frontend, and back-end features, etc. Streaming video applications require a large development infrastructure and fairly heavy data flow support. These characteristics will affect the cost of development of video streaming apps like Netflix. The more the advanced features in the app more will be the cost. Some of the factors affecting the cost of video streaming apps are:
The exact cost of a video streaming app can be calculated after features and technology to be used for development are decided. The costing includes the entire implementation of the application from requirements gathering, coding, testing to deployment. Hence, costing depends on multiple aspects of development.
OneClick IT Consultancy is a leading video conferencing app development company with nearly a decade of experience in creating robust apps. If you are looking to know more about the costing, development plan, or want to hire video streaming app developers, reach out to us today. Contact us for more inquiries.