Back in the 1920s when television was first introduced, people were startled by the power of modern technology. Little did they know that something more powerful is on the way that would isolate televisions forever. Internet is one such powerful, magical invention that has transformed everything that it touches.
According to the recent Global Digital report, it is estimated to be nearly 4.3 billion internet users all around the world which is increasing every year.
With the advancement of internet and mobile technologies, online video streaming applications like Netflix are sprouting and pushing the old televisions in the dark drawing-room corners.
With its rich content, smooth user interface and easy access, the media platform Netflix is winning millions of hearts all around the world.
Read Also: Why Should You Invest in Video Streaming App Development?
According to the Netflix financial report 2018, the company’s annual revenue has crossed total $15.79 billion while in 2018, the company had earned a total amount of $1.21 billion.
Share of respondents using Netflix in the United Kingdom (UK) from 2015 to 2016, by age group
Like all other mobile applications, video streaming apps are also in its boom now.
Let us give a detailed insight regarding the cost and features of video streaming apps so that you can also develop an app like Netflix.
Know More About Netflix
As we all know, Netflix is the most popular and widely used streaming media these days. A study reveals that this platform has already crossed more than 150 million users globally. However, the idea of Netflix is quite old, more than twenty years.
It was during 1997-1998 when two Americans Reed Hastings and Marc Randolph brought the revolutionary idea of online movie rental. Their idea freed the customers from the hassle of receiving and returning DVDs from the local stores.
By 2006, the number of Netflix subscribers increased to 4.2 million which inspired the team to change the concept of movie watching once again. And as a result during 2007 they introduced online movie or video streaming allowing the subscribers to enjoy live shows and movies directly on their computers.
Key Features of Netflix
The key features of Netflix that make it unique in the market are as follows:
- High-quality streaming
- Original content
- Ad-free movie and shows streaming
- Valuing the viewers – their experiences and ratings
- 30days free trial
Why Should One Use the Video Streaming Apps?
How cruel it sounds when you need to leave a movie in the middle and rush for urgent work. Unlike a smartphone or a tab, it is inconvenient to carry your laptop everywhere you go.
With a fast and smooth video-streaming app, you will never miss your favourite shows or movies even if you are not at home. Take a glance over the benefits of using a video streaming app:
- Free Access: You can access and browse a video streaming app anywhere and at any moment. It is like carrying a whole television inside your pocket.
- Customize Shows: One can easily watch and re-watch their favourite shows and movies that will be saved in the cloud. Also, they can choose the type of content they prefer to watch.
- Time-saving: Apart from customizable content, these streaming apps also help in saving a lot of time. There is no tension of missing the important match or show. The app will store everything for you.
- Ad-Free Content: Unlike televisions or other platforms, you can enjoy ad-free content for hours using a mobile video streaming app.
- Different Payment Schemes: Another benefit of using a video streaming app is its payment schemes. You can share the account with multiple users, maybe your friends or family and share the payment. Hence it becomes affordable as well.
How Can Video Streaming Apps Benefit Your Business?
It is true that in today’s busy world, people hardly get enough time to snuggle in their couches with a bowl full of snacks and watch their favourite shows. Watching television has eventually become an old concept.
Streaming media is a new-age concept that has changed the way people used to watch shows, movies or other content on television or their computers using DVDs.
Every TV production house is now trying to make their services digital and reach to a broader audience. Apart from that, some entrepreneurs are trying to develop video streaming apps with new and unique content to engage the viewers.
Let us brief the business advantages of a mobile video streaming app:
- Easy Access: All they need is a mobile device, headphones or other sound equipment and a decent internet connection – subscribers can enjoy watching their favourite shows and movies anywhere they go anytime.
- Wide Audience: With the help of a video streaming app, you will get the potential audience who will invest their time and money on your app and explore the content you share. These apps do not limit your business by geographical range. The videos can reach millions of people.
- Live Streaming: Some apps allow live streaming of sports, news, or any other events where many people can’t reach physically. These Live streaming apps help to reach a wider audience remotely.
- Unique and Rich Content: Unique content always invites more audience than the usual ones. Through your video streaming app, you can deliver some rich and unique content to the subscribers to retain their interest.
- Audience Feedback: Collecting audience feedback for the mobile app is easy. You can set the feedback forms of polls that will pop up while closing or opening the app and your audience can drop their feedback.
- Tracking Analytics: Using smart technology you can always keep a track about the analytics and overall performance of the app and ensure the better customer experience. Also with the use of analytical tools, you can evaluate audience behaviour and engagement every time they interact with the app. This is how you can know your potential customers.
- Free of Advertisement: Advertisements are the pillars of any business but for the viewers, the advertisement might look disturbing as they often stream in the middle of a movie or show. The subscribers of a video streaming app can enjoy a movie without being distracted by the advertisements.
Read Also: Top 10 Live Streaming Apps
Let’s Learn the Important Factors to Develop an App Like Netflix
In case you are dreaming to develop your successful video streaming app like Netflix, then these are the following things or features that may influence the app cost:
- Integrate Social Media: Social media is not only limited to communicating with your dear ones, but it has evolved into a strong marketing and advertising platform. Integrating your app with sites like Facebook, YouTube, Twitter, Instagram will help you in sharing the videos directly on social media and invite more people.
- Live Video Streaming: Live streaming feature can engage your viewers and make their experience with your app interesting.
- Monetization: Include email marketing, sponsorships, in-app advertisements, affiliate marketing, in-app purchase, and others to ensure earning from your app.
- User Experience: Help your users to make an easily manageable profile on your app. Make it customizable so that the users can choose the type of content they want to watch, scroll through the viewed content to find their favourite ones to re-watch, check their subscription details and pay for up-gradation without hassle.
- Review: Let the viewers review your app and share their experiences and opinions. Their review and ratings will not increase their involvement with the app but will also help you to understand what they are looking for.
- Subscription and Payment: Convert your viewers into potential customers by offering lucrative subscription offers and features. Different subscription packages with multiple features and benefits, e.g. unlimited content, ad-free content and others might lure viewers to subscribe.
- User Registration: User registration will help the users to one-time register into their account on the device. This feature helps them to use directly without wasting time logging in every time until they decide to shift to another device.
- Multiple Device support: Let the user access his or her account on multiple devices at the same time.
Cost to Develop an App Like Netflix
Over the past few years, Netflix has spread its wings and reached in every corner of the world. It has only been possible because of the increasing rate of mobile and internet users.
The statistics of Netflix are shocking as it reveals that nearly 58% of US adults watch Netflix regularly and 1 billion hours per week is the average amount of the total hours of Netflix streaming among the subscribers.
However, every successful app needs some good amount of time and money investment. But the first thing you need to build a clone application like Netflix is a strong team.
Without a team of professionals, app development will not bring the success you are expecting.
However, let’s meet the team:
- UX Designer: UX designers will give your app a smooth and attractive interface.
- Android/iOS Developers: These professionals will help the app perform without any difficulty on various mobile platforms like Android or iOS.
- Backend Developer: Starting from taking care of the data to the server performativity – these backend developers ensure the software and the server is running smoothly.
- Quality Analyst: The responsibility does not end with just developing the app. Quality assurance is necessary. The primary job of a quality analyst, in this case, is to test the quality and performance of the app before and after its launch.
- Business Analyst: Without strong business strategies it becomes difficult for the new app to adjust to the competitive market. Business analysts are there to boost the growth with their incredible smart strategies.
- Project Manager: The entire project is executed, monitored and managed with the help of a project manager, who is also responsible to release the project or the app within the deadline.
The cost to develop an app like Netflix usually depends on several factors which primarily include:
- Multiple features that you would like to add to enhance the user experience.
- Mobile platforms that you choose to release and perform the app.
- App complexity and designs to boost performance.
- Maintenance charges.
However, the average cost to develop a video streaming mobile app like Netflix is estimated to be around $10,000 to $25,000.
The per-hour cost of the app developers also depend per location – in North America, the average per hour rate is nearly $140 while in the Eastern countries the rate becomes nearly $60 per hour depending on the app complexities.
Read Also: 10 Best Free Music Apps For Android & iOS
Bottom Line
Now that you have all the information that you were looking for developing an app like Netflix, are you now ready to step into the competition of the video streaming market and make your brand successful?
