Video streaming apps have become part of everyone’s lives. They offer a huge range of movies and TV shows, thereby capturing users’ attention. Apps like Netflix and Amazon Prime have majorly contributed to this rise in demand. Video streaming apps like Netflix often update their app to suit the trending customer requirements.
These are some of the facts and figures that prove the ways in which these apps are redefining the entertainment industry:
As per eMarketer research 2019, more than 182 million people have subscribed to video streaming services in the US.
According to a survey conducted by Frank N. Magid Associates, 14% of the millennials say they plan to cut cable and shift to OTT platforms.
As of 2018, more than 80% of the people have watched content through streaming services or the OTT app, according to Neilsen.
According to a new report from Concentric, the number of consumers getting their OTT subscriptions will grow over the next five years to more than 15.5 million US subscribers by 2024.
From the statistics and facts, it is evident that the video streaming app sector has appealing future prospects. This blog focuses on the factors to consider during the development of Netflix like app.
Technology to built OTT platform
An app like Netflix supports a huge range of customers, so there is a need to provide high-quality content without any glitches. Adopt a well-suited technology stack to offer the best user experience.
A server is one of the essential aspects that ensure high-quality content streaming to customers. The Java-based media server is capable of simultaneously handling multiple connections so that it would be the best choice for network management.
Content Delivery Network
People across the globe use video streaming applications, so a single content transmission cannot provide high-definition video content for all the users. A content delivery network means a cached content set up at a different geographical location. Based on the customers’ location, the streaming takes place from the nearest CDN. The RTMP is the widely used protocol followed by most of the OTT platforms.
Third-party cloud storage
Cloud storage is a crucial part of OTT development. With new content being added every day, there is a need for the app to be synchronized and responsive in all devices supported. Having an own server costs a lot so instead, developers can make use of third-party service providers like AWS. Developers can make use of the PaaS model. The cloud storage providers offer networking, server, middleware, and OS support for a subscription fee. Using PaaS and MBaaS models, developers can manage streaming servers and back-end servers effectively through the cloud.
Features to consider during OTT development
Every Netflix like app has the user-profile feature, which allows users to create a profile and edit it as and when they require. They can also create a list of favorite content that appears under their profiles.
Explore tab or search tab allows users to navigate through the app, search for content based on genre, title, actors, etc. There must be a segregated watch category so that users can easily choose a show/movie as per their preferences.
It is an intriguing way to capture the attention of the users. Users can store their favorite TV shows and movies in this category and watch them whenever they want. The watch later shows, and movies appear under a separate tab.
According to a survey, screen mirroring increases the customer base of the on-demand video streaming app. Screens mirroring facilitates users to watch the content on different screens.
Users can share their favorite shows on social media platforms like Facebook, Instagram, etc. It also increases the popularity of apps like Netflix.
Monetization strategies to consider for OTT platforms
Users have to choose a plan according to their interests, after a single payment for a specific period. They can watch the content without any interruptions. Except for the promotional ads for series on the platforms, there are no other advertisements in the apps based on subscription video-on-demand revenue model.
Transactional video-on-demand allows users to pay for videos as they watch. Google Play Movies & TV is based on this model. Users can either buy or rent movies and watch as per their convenience.
The video streamed on this platform is absolutely free for users. They gain revenue through ads. YouTube, a popular video streaming service owned by Google, is based on this model.
The bottom line
The growth and popularity of Netflix have led to the emergence of several video streaming platforms. New contenders are becoming more popular with the unique business strategy they employ. If you plan to invest in Netflix like app development, make use of the services offered by Appdupe. The on-demand video streaming app offered by us matches the latest market trends and resonates with users’ demands with its attractive feature set.
This is the right moment to invest in an app like Netflix
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