Video Streaming Application: Overview
Netflix, a popular streaming on-demand video application, has significantly impacted the entertainment industry, generating 26.6 per cent of online video stream traffic and attracting entrepreneurs to the sector. Businesses, mobile app developers, and OTT app developers are studying commercial models and technical aspects to build similar apps to free platforms like Netflix. This article provides an accurate picture of the streaming video (SVoD) marketplace.
The on demand app development company market has grown at a rate that has never been ever before. It was valued at US$ 376.06 billion by 2020 and is predicted to be worth USD 932.39 billion, at an annual rate of 12.1 per cent until 2028.
History of NETFLIX
Scotts Valley, founded by Marc Randolph and Reed Hastings, has become the leading online entertainment platform, Netflix. Initially a web-based movie rental service, Netflix has since grown to over 150 million subscribers worldwide. After the pandemic, the company experienced rapid growth, gaining 36 million users by 2020 and 18.2 million by 2021, with the growth expected to stabilize in 2022.
What are the Types of Streaming Apps?
If you’ve finally decided to develop your video streaming application the first thing you must be certain about is the kind of video streaming app you’re planning to create. This is where mobile app consulting services can help. Three kinds of apps stream video.
- Video On Demand Streaming
- Live Broadcasting Apps
- Audio Streaming
How Much Does It Cost to Build a Video Streaming App Like Netflix?
The cost of mobile app development services in USA for an app like Netflix is contingent on a variety of aspects ranging from the quantity and extent of features available to the location of the developer and level of experience. The price for simple Netflix app development is between $15,000 to $30,000.
The final price of a video streaming platform depends on the features required, with a higher price for advanced features like multi-screen support and UI/UX design. Factors influencing this price include heavy infrastructure.
App Features: Live video streaming apps with basic features are priced between $12,000 and $25,000. Advanced features, like multi-screens and multi-lingual compatibility, increase costs, so it's wise to choose the bare minimum.
App Design: Users seek a minimalist style in video streaming applications, with basic UI design costing $5000, while complex apps with high-quality graphics can cost up to $10,000 due to development time and technical requirements.
Number of Platforms: Android dominates the video streaming market, but high costs and resolution issues make app development between $15,000 and $30,000.
Location of App Developers: Developers' hourly rates vary based on region, with European, US, or Western European companies charging higher ($60,000) for enterprise mobile app development company compared to Indian companies ($15,000).
The Experience of Application Developers: Android and iOS app development companies working in the same place, even within the walls of the same office, also are paid at different rates, which depend on the years of experience they’ve gained in the field of niche technology. There are three types of developers: middle-level developers junior developers and senior developers.
Top 7 Features for On-Demand Video Streaming Apps Like Netflix
Before you start figuring out how to launch an online streaming service similar to Netflix we need to know what features you should include in your Netflix-clone application.
- Profile Management and Registration of Users
- Content from the Search Engine
- Payment Gateway
- Watchlist
- Social Characteristics
- Screencasting or Screen Mirroring
- Multi-language Support
Technologies that Ensure that Your Netflix-clone Application is Effective
- 5G Technology
- Blockchain
- Artificial Intelligence
- Machine Learning
Final Thoughts
Making a streaming app similar to Netflix is a challenging task, but it's crucial to delegate the responsibility to experts. Partnering with A3Logics as a video streaming app development company can provide experience in creating amazing applications and ensure the project is completed within the specified time frame.
For more details: https://www.a3logics.com/blog/video-streaming-apps-like-netflix
