Since the world was shut down because of the pandemic, the use of online video streaming applications like Netflix or Amazon Prime has increased enormously. The NPD Group says the weekly usage of Netflix increased to 72 percent in the USA since Covid-19.
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In 2020, Netflix had first-quarter earnings of around $709 million, matched with $344 million in 2019. Revenue was boosted to $5.77 billion from $4.52 billion compared to the previous year.
Netflix First Quarter Revenue and Earnings Comparison of 2019-2020
Read More: How Netflix Changed Streaming?
It is always recommended that you begin with an MVP. This scenario will let you trim down costs while getting a clearer understanding of your target audience’s requirements. As an outcome, you will release a product personalized to your customers.
Read More: Essential Features of On-Demand Service App
Top Features for On-Demand Video Streaming App like NetFlix, Hulu
The feature allows users and customers to sign in through email or social media accounts and even create profiles. Netflix enables users to have up to 5 profiles for an account, offering multiple accesses to video content.
Content is a significant feature of any video streaming app. To make the content search process more comfortable, blend a selection of genres, reviews, and ratings.
Both iOS (Apple) or Android (Google) platforms have their payment solutions offering developers with APIs. However, they charge a transaction commission through their system.
However, if you are building a streaming platform such as Netflix for web devices, you require blending a payment gateway.
Offer users access to comments for discussing content and engaging customers within a video streaming platform. If you modernize this feature, the development cost and time will increase.
Notifications and push messages are essential features that automatically inform members about their favorite shows, movies, or episodes with recommendations. This scenario will boost customer engagements as they won’t have to track data on their own. One can send notifications directly to user emails or smartphones. If you have a mobile application, users will receive push messages through it, which is very handy.
Read More: Key On-Demand App Statistics 2020: Survey, Research, and Figures
User settings comprise a selection of language, audio tracks, play, pause access, enabling subtitles, and other options to facilitate users to engage and interact with the platform easily.
When developing a video streaming application like Netflix, add as many languages support as possible. This addition directly impacts the customer numbers that your app solution can have in the current entertainment scenario.
This functionality is irreplaceable and is severely related to copyright protection. Screenshot blocking checks customers from taking pictures and recording the content.
It works as an individual application right inside a video streaming platform. One can handle and manage the entire content of the system like editing, moderation, publishing, and deletion of material. It further includes adding other users and controls various accesses.
You need and must make sure that your video streaming app is accessible to users continuously from any of the platforms, including desktop, tablets, or mobile phones.
Better UI/UX influence people. For instance, a video streaming app like Netflix and Amazon Prime should have an undemanding design, effortless navigations, showcase content as per user view and search.
The app needs to monitor what content is of interest to different users. It should pull content as per user searches, their content history, saved and downloaded material. This scenario will assist in the marketing and promotion of content to get more user visibility.
More Functionality for On-Demand Application includes:
13. Live Video Streaming
14. Social Sharing
15. Geo-Blocking
16. Download Functionalities
17. Multiple user profiles
18. Social Media Login & Sign-ups
Requirements for a Video Streaming App like NetFlix, Hulu
Have a content delivery network (CDN) to deliver steady connectivity, system accessibility, and shun server overloading. Blend scalable data storage to maintain video content and other information.
One needs to make sure of the superior security of user data, payments, and copyrights. You can use SSL encryption, data access control, referrer, domain restriction, geo-blocking, and screenshot ban to protect your digital assets.
With numerous users accessing the On-Demand platform simultaneously, it has to process multiple requests while delivering a flawless user experience swiftly. To resolve this, one can create a microservices architecture using modern technologies to enhance scalability and trim down infrastructure costs.
Read More: How much Does it Cost to Build a Netflix-like App?
The costs differ uncontrollably as per your preferred mobile app development method through an experienced iOS App Development Company or a proficient Android App Development Company. While customized app development for your video streaming solution costs you thousands of dollars, there are affordable subscription plans.
Use this template to understand what you need and learn how you can build your next ‘winning’ MVP.
We are a leading video conferencing and On-Demand Streaming App Development Company with a decade of experience building robust apps. If you are exploring the costing, development plan, or want to hire mobile app developers, as a top Mobile App Development Company, we can guide you and develop your technology project as per your requirements.
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Netflix, Uber, Airbnb, and more launched MVPs faster to test their product in the market. Build yours in 3 simple steps and become a market leader now.
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