Is A Live-streaming Video App Like Netflix, On Your Card?
Why Developing An App LikeNetflix Is An Ideal Investment Choice For You?
Binge-watching is the new fact that covers the need of the hour of the Millenials. Today modern people love to stay hooked to something worthy of their attention and this need is well-answered by Netflix service, which is drawing viewers across the distance of the ocean.
Some of the most jaw-dropping facts about Netflix states that it is the world's leading subscription service to watch TV episodes and movies on same platform. It allows the streaming licensed and rented content on DVD and Blu-ray discs via mail.
Netflix is the world's leading premium video-on-demand service with approximately 220 million global paid subscribers. It is predicted that Netflix's stock price will reach $500 by mid-2023 and then escalate to $800 by the end of 2024.
It is available for iOS and Android and is free to download, but charges for in-app purchases.
With such a great pool of advantages, which fit the demand of today's consumers, Netflix turns out to be an incredible option for investors to make smart investment decision.
Are you willing to discover where to get such an efficient and power-packed app?
Transform your idea into reality with WebClues Infotech.
Why Should You Choose WebClues Infotech For Building A Live Streaming Video App Like Netflix?
An app like Netflix requires a huge deal of technological advancements and expertise to handle the unpredictable Tech-challenges, and such obstacles can be met with the assistance of highly experienced app builders like WebClues Infotech.
At WebClues Infotech, we have a robust brood of well-efficient app developers , designers and QA analysts, who hold the years of experience in crafting some of the most successful app solutions for a wider range of industries.
Our extensive set of exposure has helped Fortune 500, promising start-ups and renowned brands from the globe , to trigger their popularity and revenue goal to a great extent.
Carve A Niche For Your Users With Captivating Features And Substantial Functionality LikeNetflix
Netflix is a sure-shot way to garner the attention of the audience, not just from a specific base, but audiences coming from different walks of life are also inclined towards its functionalities. Eventually, it concludes to be a proven and an ideal choice to incur profit out of it. With the app like Netflix, you get an ample amount of reasons to get the monetary benefits and make a strong passage for your sales funnel.
Factors That Makes Video Streaming App A Grand Success
We are going to list the main steps you should undertake before you start learning how to create SVOD like Netflix.
01. App Monetization
Succinctly, the monetization of video platforms can only be expected based on the subscription model. This allows users to get variable plans for the viewers. The different plans like monthly, quarterly, or annually can be added including the free trial versions for a month. It will really trigger the excitement of the user.
The users can subscribe to all video libraries or only some part, allowing you to monetize the app. You must follow the steps as following:
- Creating a plan for users
- Automated repetitive payments
- Free trial version
- Auto-updating/discounts
- Video advertising
02. Multi-currency support
Netflix has gained popularity throughout the world. Consequently, its users have also increased across the globe. Therefore, you need to integrate the multi-currency support allowing users to pay as per their preference and convenience.
03. Video sharing and streaming
Netflix is the most popular video streaming app service that streams approximately 250 million hours of video per day to around 98 million paid subscribers in 190 countries.
With the help of Netflix, you can watch movies, TV shows, and documentaries on various devices and it does give an incredible viewing experience. Users use the Netflix to stream movies and TV shows on their screens and as the utilization of Netflix is so simple, it can be handled and managed by anyone easily.
Netflix can be watched on a computer, by simply logging to netflix.com, and also the feasibility of accessing the incredible content from anywhere in the world.
04. Smart Downloads
As the name suggests the Smart Downloads feature automatically deletes the episode once the user has finished watching it, and then further download the next one with a stable Wi-Fi network. With this feature, users avoid the clutter of deleting and downloading content manually.
Why Investing In A Live Streaming App Like Netflix Is The Right Choice?
When launching a new business indeed there are multiple ways to invest and get the best revenue out of your business goal, but at the same time investing within a concept like Netflix model, does not guarantee immediate astonishing success. Therefore, you must figure out the best ways to initiate a concept which holds the better version of Netflix, and becomes a revenue-generating model for you.
A significant aim to turn into a competitor of Netflix can only be proven to be an ideal choice when there is a prominent profit to be incurred out of it. Remember, nobody wants to get a mobile app, which has nothing unique & different to offer, hence you must obtain those mandatory features along with something UNIQUE & CAPTIVATING which pick the best out of your concept.
Some Statistics To Prove The Demand For An App Like Netflix
Netflix is a leading player in the global online streaming industry, with a net worth of $146 billion in 2023 and a market cap of $160.98 billion in February, making it the world's 69th most valuable company by market cap. In 2023, the company had more than 220.6 million subscribers worldwide. However, competition is increasing as major players such as Disney, Warner Bros, and Hulu are pulling out of the market, leaving a void in the quality of content.
Despite increased competition, Netflix continues to be the largest streaming service in 2023, To stay ahead of the competition, Netflix is continuing to produce high-quality content and offer a wide range of streaming options.
Where Do The Existing Players Stand?
$10 Billion
$6 Billion
$1.7 Billion
$1.5 Billion
Netflix is charting on top in the battle of the streaming video services but it is facing increased competition from industry stalwarts. Netflix's growth has been phenomenal but there are other industry leaders who are turning the competition stiff enough. This war of better functionalities and features has given enough options to users to relish the live-streaming video platform. These big players in the market are soaring the competition high; clearly stating the potential of live-streaming video app platforms.
How To Create An App Like Netflix
Before creating an app like Netflix some important points have to be taken into consideration such as choice of platform, design, mode of payment, etc. The integration of these points requires a complete business plan.
Follow the below steps in order to build a step by step strategy to create a Netflix-like streaming app:
Hire an efficient app development company
Begin with the right strategy to initiate an
app like Netflix
Build a business model
Utilize the tech stack to build the app
Include MVP features to decide the wireframe
Comprehend the technological essentials
Features Essential To Make Video Streaming App LikeNetflix
List the content in the already existing library or use an integrated search feature.
Netflix offers the new TV shows and films according to the preferences.
Users can create up to five separate profiles in a single account.
Add search categories to the service; users can rate films viewed, then the app will sort out films you like more precisely.
Advanced Features Which Are Must In Your Video Streaming App
Indeed the MVP is an integral part of Netflix app development. It helps the mobile app to secure a better way to reach the RIGHT audience by integrating the required features & functionalities, however, the basic features & the functionalities are mandatory which cannot be given a skip, such as:
User-registration
This is the very first feature which can't be ignored at any given cost, here users can register via email and social networks. This allows users to conveniently access the app.
Payment gateway
This allows users to make the payment without any hassle by just clicking on one single button.
User profile
Within this users can add their favorite movies or watch their own preferred content.
Content search
This allows users to select the different content genres, also based on the selection by user reviews.
Chat and comments
It lets the communication to take place amongst the users to leave a comment.
Push-notifications
In this feature, users are notified by the messages to watch any new or upcoming TV show, season or a series.
Settings
The very selection of audio track, subtitles on/off, play/pause, rewind, volume control, etc. can be set and maintained through this feature.
Multiple language support
This feature lets the various languages to be used on the platform, letting the app to have more users.
Blocking of screenshots
It is majorly done for the protection of the copyright, allowing users to not violate the protection.
Admin Panel
This one is the obligatory feature for users to have in the app, the admin will have access to all content to manage videos and users, block users if necessary, and so on.
Technology Stack For Netflix-Like App
Here you will find the list of the main tools that should be used for the development…
For Android
Development
For Backend
Development
For iOS
Development
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How Much Does It Cost To Build An App Like Netflix?
It's not that easy to estimate the development cost of an app like Netflix. We have to know target platforms, defined set of features, scope or complexity of the project, average developer cost, and many more.
Also, the cost of creating an app may vary from country to country and region to region.
In order to lessen the expense of building an app like Netflix, you need to hire a notable organization that has broad experience in developing an on-demand video streaming app. We being an experienced mobile app development company know the most recent patterns and innovations utilized in developing an app at a very financially savvy cost.
The final cost can be determined only after having a thorough discussion with our app developers and experts.
Which Industries Are Benefiting From On-demand Apps?
There are several industrial sectors that are witnessing a renaissance in the way they operate after the arrival and growth in demand for online apps. Some of them are listed below.
HEALTHCARE
With the on-demand apps it is now possible to book appointments and even get blood reports and other medication with the comfort of the tap of your finger.
FOOD
Zomato, UberEats, Swiggy etc. are the prime examples of the value of online delivery apps in the food business. These apps have bridged the distance between restaurants and customers to provide them with the convenience of having a meal at the comfort of their home.
ENTERTAINMENT
Whether it is about social media, audio, video etc. on demand apps in the entertainment sector are revolutionising the industry.
DELIVERY
Players like Big Basket have proved that on-demand apps are one of the best ways to have a two-fold advantage-one of boosting the sales and second providing customers a convenient experience.
PERSONAL CARE
From salon booking to wedding bridal makeup, whatever your needs are now you need not abide by the hectic traditional path of extensive searching. Just use your phones and choose the best nearest to you.
TRANSPORTATION
Uber and Ola have fulfilled the desires of many to travel with the entire family in cars. The online delivery apps are changing the face of how transportation works to make the lives of citizens better and better.
