Cost Considerations of a Netflix Like App
Posted By : Khushboo Arora | 29-Aug-2019
Netflix has grown exponentially in popularity to grab the top spot for video streaming services. It provides viewers with unlimited on-demand access to thousands of movies, TV shows, comedy specials, and web series on their smart devices or laptops. It takes up over 35% of the peak internet traffic in the US. According to Statista, Netflix had 93.8 million subscribers by the end of 2016.
Netflix has recently earned more popularity due to its expansions into the overseas market. Netflix’s success has inspired several media businesses to invest in video streaming platforms. In this blog post we explore the essential features that influence the development cost of Video Streaming apps like Netflix:
Genre-wise Categorisation: It is essential for video streaming mobile application developers to include the provision for categorizing videos into different genres. Viewers need the option to filter content as per their preference
Comments and Reviews: A video streaming app should enable viewers to review and comment on videos to enhance user engagement. Comments enable streaming businesses to improve their services with content refinement
Multilingual Support: Including multilingual content on a video streaming platform attracts a wide variety of viewers. In 2016 Netflix added multilingual content in its library due to which it increased its subscriber base by 93 million users.
Searchability: It is critical that OTT video streaming app developers build an easy to use interface with a search box option. The search box makes the task of locating the desired content easier and faster
Multiple Device Support: Media consumers today use a variety of devices to access the content. A video streaming app should, therefore, be compatible with multiple devices like iOS, Smart TVs, Window, PC, Mac OS, smartphones, etc
Easy Screen Sharing/ Mirroring Option: Screen mirroring option provides convenience to viewers' movie watching experience. Netflix, Amazon Prime Video, Hulu offer screen mirroring options to enable users’ watch their favorite movies on television screens.
User Profile: A user profile acts as a central location for viewers to manage their subscription including payment details, subscription renewal date, content preferences, content suggestions, history, and options to view their plan details.
Watch List: Including a watchlist in a video streaming app is essential to enable users to shortlist content for later viewing. Based on the watchlist, a notification can be pushed to remind users to watch shortlisted content
Secure Payment Gateway: A video streaming app should have a secure payment gateway to enable users’ to securely avail subscription packages. An app should include various payment gateways as per user preferences
Understanding Netflix’s Monetization Model
Video streaming apps work on a subscription-based monetization model. Users can select a subscription model as per their preferences. The first month of subscription is free for new users. The subscription models are segregated based on the quality of video a user would choose. The app charges a very nominal amount when a subscriber chooses a standard definition quality. To watch a video in high or ultra-high definition quality the user has to pay some extra amount for its subscription.
Let’s discuss other factors that decide the cost of video streaming app like “Netflix”
Cost of Licensing: Licensing a video service with all sorts of content requires investment in millions of dollars. As per Investopedia reports, Netflix has spent $13 billion on licensing in 2018. In the same year, the company was able to raise a profit of $16 billion.
The Platform you Choose: To develop a video streaming app like Netflix you need to decide the operating system for it. If you are new to the market they opt for Android first. The population of android users is more in comparison to other OS’s, therefore, investing in an Android video streaming app will be beneficial.
Geographical Location: the average per hour development cost of a video streaming app fluctuates from west to east. The cost fluctuates between $25 to $80 in an eastern country, while in western countries the average hourly cost varies from$80 to $200.
Oodles OTT Video Delivery Solutions
Video On Demand and Live Streaming: Our OTT developers are skilled at developing OTT video delivery solutions that are scalable for streaming rich media from across the globe. We provide live streaming and video-on-demand services to establish our media clients as viewers’ platform of choice.
Set-Top-Box Application Development: Our development services include native set-top box solutions that are engaging, fast and intuitive. We develop high quality, robust apps for various OTT and VOD platforms like Roku, Apple TV, Vewd TV, Samsung TV, WebOS SDK, Amazon Fire TV stick, Google Chromecast, Foxxum OTT and more.
Smart TV App Development: We create feature-packed Smart TV applications using advanced SDKs. Our developers build user-centric smart TV applications that enable media businesses to showcase their brand and market themselves better. We build Smart TV apps for Tizen, Opera, Hulu, Samsung Native, and others.
We develop video streaming architecture similar to Netflix and other popular OTT platforms. Our developers integrate Video Content Management Systems(CMS), Video chat and conferencing with existing OTT platforms. We enable clients to collaborate and communicate with businesses overseas and aid in business expansion. Our other features include recording and sharing of video content to enable teams and businesses to collaborate and work together more effectively.
Are you planning to launch a video streaming app with custom features? Oodles Technologies has set new benchmarks in the OTT space by creating a dynamic and user-friendly online video content platform. We enable video content providers to organize and manage their content with our advanced video solutions. Our in-depth expertise and proven methodologies play a critical role in delivering an engaging OTT platform for your business.