We hope that the reason you are here is that either you are planning to build an app on-demand video streaming app solution or you want to know about the cost to develop apps like Hulu or Netflix. We would say the heartiest welcome since you are at the perfect place. Also, planning to invest money in such a fantastic network of content delivery is to be appreciated. Why?
Because the popularity of these OTT apps or the on-demand video streaming apps has increased considerably in these years, many users are attracted to these platforms due to all the content’ freshness. Not to forget that they have entangled many from the old cable connections by coming up with a tremendous transition.
Some years ago, no one knew what a VOD meant. But in the USA alone it is used by 51 per cent of homes. It is an abbreviation for Video-On-Demand, which makes it possible to stream videos.
The market of the VOD apps
The global market of the VOD would double in its size by the year 2023.
Over 51 million households in the US are streaming content through the VOD platform.
Every day people spend approximately 100 minutes on the VOD apps and are paying an average of $8.53 per month for a service.
It is also predicted that North America will be replaced by the Asia Pacific from the year 2021 as the world’s most significant region for OTT video revenue.
By these statistics, we can see that the on-demand video streaming app sector is the next-gen business trend.
Approximately, there are about 182 million users who have subscribed to these platforms, and the number is not stable, as it is multiplying every passing day. With the consumption of these contents by the users, the scope of the on-demand video streaming app has also developed.
Differences and meanings
Before we jump into what these platforms should contain, etc., we need to know about the differences. Here are some commonly used synonyms for VOD video streaming solutions
VOD v/s OTT: While OTT works on an internet connection only, VOD requires either satellite or the internet for working.
OTT SVOD v/s AVOD: The only thing making AVOD different from SVOD is its business model. While AVOD stands for Ad-supported video on demand, SVOD means subscription video on demand. Some examples are: YouTube and Pluto TV are two popular AVOD’s and Amazon Prime and Netflix are the two popular SVOD.
Present tycoons of the on-demand video streaming platform
There is a wide range of VOD platforms that are attracting a lot of users towards their end with their excellent services across the world, which can also be an inspiration for you. The two essential yet promising platforms are mentioned right here:
Netflix: With a vast library of content, this platform is across 190 countries. The pandemic situation led so many viewers inside the world of Netflix to watch their favourite TV shows, movies, and series on it.
Hulu: The app is owned by Walt Disney, and its equity stakeholder is NBC universal. The app allows app subscribers to access the contents beforehand of 30 days before they are aired.
There are many other VOD platforms such as XUMO, Apple TV+, HBO Now etc. that are ruling the entertainment industry.
Now let’s talk about the reason behind the success of the apps; the features. How it can be useful and how they are serving a great purpose here.
Features of VOD app development
Integrate social features
People would prefer recommendations than trying something new. Most of the people watch the series and movies that trend on social media. Using social media will help your platform grow as many other apps are growing.
The Search option is crucial for a VOD app. Make sure that this option is visible for all age groups. Your skill lies in how many celebrity options and filters you add in the drop-down menu because the more the possibilities, the more the traction of users.
To broaden the demographic limit and to expand your business beyond the limits, you must try to bring in a large number of audience. The analytics should be increased by taking the languages of users into consideration. Please make sure that the app includes multiple languages as having a single language wouldn’t have brought the app like Netflix to the top.
Your platform must contain the user profile, where users can manage their information, including the payment option they prefer, suggested information that they want to view, along with the suggested contents with respect to their history.
The part to be added in the platform without fail is the Watchlist functionality. This part is where users can add things that would like/wish to watch later. The reason it is important is that most of the VOD apps are famous because of this feature.
This is the best part, since it would be more beneficial for users, as they will have the option to access the app from any displays like TV, Desktop etc. instead of just from the mobile apps. This feature can be implemented by developing apps that are accessible on both mobile phones and TVs.
Add social media
Give your users a choice to share their opinions or feedback with their group/network on social media platforms. It is an integral part of the whole VOD experience.
It’s the development time!
The approximate time it will take for on-demand video streaming app development is approximately six months. But it is one of the cost-consuming methods, as you would have to rent the assistance of a development firm, and then it would involve various apparatus like content delivery networks and setup of hosting.
But by getting in touch with the professional developers, who offer on-demand video streaming app solutions, all you have to provide is your choice about the logo, colour combinations, and additional plug-ins etc. You will have the full support from our development team during the whole process and even after the operation of the development, as we provide post-launch support too.
We hope you have read through the blog now and have got a basic idea about the things that need your consideration. However, it still lies in your hand about what are going to be the particular functionalities in your app.
Unleash your thoughts and come up with the best plan for a thriving business and our team will help you with the best video-streaming app solution. Hurry!
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