When we speak of how the entertainment industry has evolved over the years, the major contribution goes to OTT platforms like Netflix. These apps have changed how people stream and watch their favorite content. Year-over-year, the growth of apps like Netflix has been tremendous.
Interesting facts about Netflix
The number of UK homes having Netflix subscription has increased to 52% in the first quarter of 2020.
According to the BARB establishment survey, 15.01 million people worldwide either have one subscription for either Netflix or Amazon prime video.
Netflix has the largest subscription count among video streaming apps. Over 60 million Americans have subscribed to Netflix.
As of 2019, Netflix has an annual revenue of $20.15 billion.
Netflix has a unique selling proposition, which has led to an increase in users over the years. Netflix has three subscription plans: basic, standard, and premium subscription plans starting from $8.99 to $15.99. Though the content available is the same for all users, the rates are differentiated based on the features offered to users. Understanding the methodology followed by Netflix app development would help budding entrepreneurs to develop their video streaming app.
How to start your video streaming service like Netflix?
Find your Niche
When we think of video streaming apps, we usually think of movies and web series. But actually, there are several categories to consider, such as Game streaming, Fitness streaming, and Sports streaming. Customers can rent their games and play via the game streaming platforms. Depending on the domain you have chosen, you can stream content to the users.
Content research
Once you decide on the niche, the next step involves finding the right content for your app. There are two ways to get a license for your content:
Rent the movie or show from the distributor as per your convenience.
Contact the copyrights owner directly, come up with an agreement or negotiation for the content.
Conduct audience polls and try to feature the most-watched genre movies/shows in Netflix clone.
Monetization methods
When it comes to monetization strategies for your app. The three popular modes are
Subscription video on demand (SVOD): A subscription fee has to be paid by the users; they can access all the content of the video streaming app clone. Amazon Prime Video, Netflix, Hulu are some of the apps that fall under this category.
Advertise video on demand (AVOD): Users can watch content for free, only catch is that Ads would be present. Youtube is a prominent app that comes under the AVOD category.
Transactional video on demand (TVOD): People have to rent or buy the content for watching. iTunes and Google movies are examples of apps based on the TVOD model.
Decide on features
For any video streaming platform, it is essential to decide on the features before the development process. Here is the list of significant features to consider for your app
Registration/ sign up
X-ray feature
Video quality adjustment
Webcast
Favorites list
Multiple streaming devices
Secure payment modes
Downloads
Social media sharing
Conclusion:
Building an app from scratch would lead to a lot of investment costs. Instead, entrepreneurs can take the tested and reliable path of readymade clone app by getting Netflix clone script from Appdupe. Contact us now!
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