The pandemic crisis has left us no option other than locking ourselves in our house. This increased the use of Video Streaming App like Netflix, Amazon Prime, and many other apps on the list.
Netflix is known by almost everyone as it is a giant in the domain of video streaming app. It is because of the collection of movies it provides and according to the reports, Netflix is the most popular Video Streaming App.We have seen a drastic change in the video streaming domain until now from the development of Television to video streaming app. This could only be possible because of the advancement of technology that shifted the audience online.During the lockdown, people preferred the video streaming app instead of a TV broadcast network.
Statistics of Video Streaming App
Netflix is among the best video streaming app across the world. Such video streaming apps have become a necessary part of our livelihood.
- Netflix holds 71% of the global streaming video-on-demand market.
- According to the reports, by the end of 2021, the total worth of video streaming apps will be more than $10,691 million.
- As per the reports, in 2018, the revenue of Netflix was $15,589 billion and by 2022 it will see a hike of 2.3% of annual growth that is $17.086 billion.
- Netflix users spend 100 million hours a day watching the content.
- According to Statista, 32% of TV households across the world would have a video on demand subscribers by the year 2022.
- The average time a user spends on watching TV now is just 25 minutes a day.
- Netflix holds 63% of the market in the USA
- By the year 2024, the Video streaming industry is predicted to reach $73.9 Billion.
Advantages Of Netflix:
|30-day free trial
|Wide range of ‘Original TV shows’
|Offers high-interest movies and series
|Download content and watch it offline
|Affordable membership plans
|Create favorite lists (Parental controls)
|Stream on multiple devices at once (premium plan)
The Business Model For Video Streaming App Like Netflix
- Subscription Based
- Accessibility on multiple devices
- No advertising
- Native content- Netflix Originals
Features To Develop A Video Streaming App Like Netflix
A video streaming app can be built either from scratch or a video streaming app clone can be modified according to your requirement. You must consider the given below points to choose the suitable development process-
- Time Frame
- Development Cost
With the help of these points, your Netflix Clone Application can be personalized and the strategies can be made keeping all your points in mind. But for this, you must hire a skilled and highly experienced mobile app development company.The following are the main features of an on-demand video streaming app.
1. Basic Features
Customer (Website + App)
Admin (Web Panel)
|Register/ Sign Up
|Mobile Number Verification
|Recently Added Shows/Movies/Series
|Manage Program Categories (Hollywood/Bollywood/Horror/Suspense etc)
|Advanced Analytics and Reports
|Search(by title, people Genre)
|Filter shows (Suggested shows Years /A-Z /Z-A)
|payment and billing details Management
|Gift Card/ Promo codes Management
|Redeem gift card/ promo code
|Update/Upgrade subscription plans
|Subtitle appearance settings
|Manage Featured programs
|Like/ Dislike shows
|Manage Downloadable shows
2. Add-On Features
Customer (Website + App)
Admin (Web Panel)
|Review and Ratings
|Manage Review and Ratings
|Manage most searched shows
|Banner ad display
|Offline shows (Downloadable)
|Comment on shows
Resource Team To Build Netflix Clone Application
The resource team that is required to develop Netflix Clone Application will consist of:
- Business Analyst
- Project Manager
- UX Designer
- Android App Developers
- iOS App Developers
- Backend developer
- Quality Analyst
Cost To Develop A Video Streaming App Like Netflix
The cost to develop a video streaming app like Netflix will be around $55,000 to $60,000 and the time to develop will be approx. 160-180 days. This cost and time estimation is given according to the features that are mentioned above and you will get the clone app like Netflix.
Performance is the key to any successful video streaming apps and there is no shortcut to it. Although there are already many great players in this field and many people in the market have already taken this step. In addition to the issue, Netflix is the game-changer to the video-on-demand industry and has brought unlimited streaming capabilities online.