Do you remember the days when your family used to fight about what to watch next? Those days are no longer with us. Thanks to online movie streaming services, you can watch anything at any time, on any device. Furthermore, by 2025, the global video streaming market is expected to exceed $125 billion. And if you want to join in the fun, now is the time to do so.
Here are some interesting Netflix facts and statistics:
- Netflix’s audience accounts for 40% of all internet traffic worldwide.
- Netflix accounts for 8% of all binge-watching time in the world.
- Netflix’s streaming revenue in the United States will be around $7215 by the end of 2020.
Secrets of Netflix’s Success
Netflix is the industry leader in video streaming. Netflix started in 1997 as a DVD-by-mail service and now has over 118 million paid subscribers. More than half of households in the United States use this service. But what is it about Netflix that makes it so popular?
Netflix launched a website in 1998. In addition, the platform’s payment model shifted from “pay per rental” to “monthly subscription”.
Netflix focused on online streaming services in the early 2000s, and it paid off. Netflix finally launched the streaming service we know today in 2008.
The company is now renowned for its original series, television classics, and movies. In 2019, its revenue is expected to reach $17.63 billion. Before answering the question of how to start a streaming service, let’s take a closer look at Netflix.
The Business Model of Netflix
Netflix discovers that its subscribers own multiple interconnected digital devices and can watch their favorite shows on any of them at any time.
Furthermore, having a separate subscription for each member of a family makes no sense. Netflix offers four different subscription plans, each with its own set of features.
These plans specify which devices users can use to watch videos on and how many members can stream at the same time under a single subscription.
- The mobile plan allows you to watch SD videos on a single mobile/tablet device.
- The basic plan allows you to watch SD videos on any device at the same time.
- The standard plan allows you to watch HD videos on two devices at the same time.
- The premium plan allows you to watch HD videos on up to four screens at the same time.
Domestic DVD, domestic streaming, and international streaming are the three business segments that Netflix caters to. Netflix began with a domestic DVD model and gradually transitioned to video streaming.
Domestic streaming generates the most video of the three models. However, since 2018, this video streaming app has shifted its focus to the global market, producing and distributing content tailored to specific countries or regions. Netflix’s profitability has been steadily increasing since then.
Key Characteristics of an Online Video Streaming App
Netflix, a video-on-demand streaming app, has grown in popularity due to its exceptional features. If you want to make an app similar to Netflix, you should think about these features.
Create Multiple Accounts: Users can create up to five separate user profiles for each family member or friend after creating an account.
As a result, each profile can have its own favorites list, recently watched list, ratings, and personalized show and movie recommendations based on Netflix videos previously watched. A user’s watching history and saved list are also permanently deleted if he or she deletes a profile.
Multiple Control Levels:
When creating profiles, users can choose from four maturity levels, ranging from children to adults. If this is not enough, they can set a PIN in the Parental Controls section of Settings to prevent children from changing profiles.
Filters for Content Search:
Filters for Content Search: Netflix allows users to narrow their search using filters such as title, actors, directors, or genres to find the best content that matches their preferences.
An Online Video Streaming App’s Key Features
On-demand video platform Netflix has grown in popularity thanks to its unique features. If you are planning to build an app similar to Netflix, you should at least consider these features.
Multiple accounts can be created
After creating an account users can create up to five different user profiles for each family member or friend.
As a result, each profile can have its own favorites list, personalized show and movie recommendations based on a recently watched list, ratings, and previously watched Netflix videos.
Also, if a user deletes a profile, their viewing history and the saved list will be permanently deleted.
Multiple levels of control
There is some content on Netflix that is inappropriate for children. Users can choose between four maturity levels, ranging from children to adults when creating a profile.
If this is not enough, they can create a PIN under the ‘Parental Controls’ section of the settings to prevent children from changing profiles.
Filters for content search
It’s easy to get overwhelmed by a long list of movies and TV shows. Netflix users can refine their search using filters such as titles, actors, directors, or genres to find the best content that matches their preferences.
Adding Content to ‘My List
One of Netflix’s most useful sections is ‘My List’, which allows users to save their favorite content by tapping on the ‘plus (+)’ sign on each show or movie they want to watch later.
Ratings for Content
This app allows users to rate a movie or show by thumbs-up or thumbs-down, and Netflix will show them less similar content as a result.
Download Feature
This is why Netflix offers the option to download a list of shows or movies (up to 100 at a time) so that users can watch videos even when there is no signal. Furthermore, users can save all of their data by only allowing content download when their device is connected to WiFi.
Netflix Roulette
Similarly, most users spend more time deciding what to watch than actually watching something from the vast catalog of entertainment.
As a result, Netflix introduced a feature in which users can select a genre, type, or IMDB and then tap the spin button to explore a list of random content that matches their preferences.
Turn off Autoplay
This video streaming app, on the other hand, allows users to disable autoplay, which prevents Netflix from automatically playing the next episode when they are watching a TV show.
Delete Browsing History
Users may find such suggestions based on ‘because you have watched annoying. As a result, Netflix has made it possible for them to delete those blemishes from their Netflix history, making their streaming experience smoother and more enjoyable.
Tips for Creating a Netflix-like Video Streaming App
Here are some guidelines to keep in mind while developing a Netflix App
The foremost thing that almost every user notices is the interface. Make sure it’s easy to use and enjoyable to look at.
If you want to expand your user base to other countries, provide services in multiple languages, and so on, create a futuristic and future-proof app. It will eliminate the need for the app to be completely redesigned.
Allowing users to log in via multiple methods such as email, Facebook, mobile number, and so on will add an extra layer of convenience.
The mobile application should work seamlessly across multiple platforms, such as smartphones and tablets. The user data and payment gateway should be completely secure.
Create functionalities that will make it easier for users to watch, save, and share their favorite movies or shows before creating a video streaming app.
Factors influencing the cost of developing a video streaming app
The price of a video streaming app is determined by a variety of factors. Some of the most significant are:
App Features: We have already discussed the key features that you should include in your app in order to succeed in the market. The app development cost will vary depending on the number of features you want to include in your application.
App Platform: The modern technology utilized for robust Netflix clone app development also helps determine the development cost.
Swift, Objective-C, Kotlin Java, React Native, and other technologies may be included. You should select technology based on the problems you want to solve and the goals you want to achieve.
Location of development company: Most businesses outsource app development to focus on their core idea and in-house operations.
When planning to outsource, keep the location of the mobile app development company in mind as it is an important factor in cost estimation.
The rate of app development varies by country. In North America, for example, development rates range from $50 to $250 per hour, whereas app development services in India range from $15 to $80 per hour.
When you hire Indian mobile app developers, you will get the same work done at a much lower cost than in the United States.
Other popular video streaming apps around the world include:
- Prime Video on Amazon
- YouTube
- The availability of HBO in the US.
- Hulu, Twitch, and Crackle
Final Thoughts
People have been shifting away from text-based content and toward audio and then video in recent years.
Bloggers are also becoming vloggers in order to retain and grow their following. With all of this video content being created online, platforms or mobile apps are required to expand its reach.
There are currently a plethora of video streaming apps on the market, but none can compete with Netflix.
If you believe your idea has the potential to outperform the video streaming market, contact the experts at a reputable mobile app development company.
