Revenue in Video Streaming apps is expected to show an annual growth rate (CAGR 2019-2024) of 4.6%, resulting in a market volume of US$30,410m by 2024. In this blog post, we will explain to you details about Video Streaming App Cost, Features, Technologies
In recent years, video streaming apps have witnessed rapid growth due to the proliferation of smart devices, high-speed internet connectivity, and diverse digital media platforms. On-demand apps offer users complete control over the ability to watch content without advertisements, the option to watch content on different devices, as well as fulfill their need to watch content anytime, anywhere.
On-demand video streaming apps like YouTube and Netflix have emerged as the most preferred choice of people to entertain and refresh their minds. According to Statista Reports 2018, subscription video-on-demand services brought in an estimated 11.3 billion.
Do you want to develop Your Own video Streaming App
The video streaming app development market has not only widespread reach, but it also has shown an immense effect on the entertainment business’s profit. With Android and iOS-based video streaming mobile applications, users can easily access original content as per their likes/ preferences for hours. Users have several reasons to opt for the on-demand video app as it is based on modern attributes and helps to overcome the traditional entertainment industry challenges.
In this blog, we showcase the growth rate and advanced features for on-demand video app and Streaming app development costs. It is important to collaborate with iPhone Application Development Company to leverage these features.
Growth of Video Streaming App Market
- Revenue in the Video Streaming (SVoD) segment amounts to US$24,248m in 2019.
- Smartphones crossed 2 billion marks in 2014 and are expected to reach 4.6 billion by 2019
- As of 2019, there are 182 million OTT subscription video service users in the U.S
Must-Have Features in Video Streaming Apps
Multilingual Content
To expand your videos and business, it is essential to reach beyond the geographical regions and areas. The multilingual content feature helps to reach the users at the global and international levels. It allows translating the languages to the native language with subtitles.
Search
By integrating the search feature, it helps to identify the series easily from the list as per the alphabetical order. This has turned into a must-have feature in video streaming mobile applications. Design the search option in the form that it should be visible to every age group.
Watchlist
Watchlist helps to filter the favourite content of the user from the list. It helps to save time and keep track of the series. All popular video streaming apps like Netflix and Amazon Prime have an inbuilt Watchlist feature, as it makes it easy for the users to access the videos.
Push Notification
The push notification helps to connect with the users and send reminders for the next episode of the series and new launches. It also boosts the promotions and offers of the app.
Live Video Streaming
Integrate live video streaming features to the app as it has turned into a need of the hour. The live video streaming feature helps users to watch live shows.
Review and Ratings
This feature benefits to increase the engagement on the platform and improves decisions. Allow users to leave their suggestions as it will help to get the customer’s view, along with this it also increases the trust factor among the audience.
User Registration and Login
In order to streamline the process, in a video streamlining app, there should be a user registration process. In order to leverage the features of the app, users should officially register. Along with this to make the registration process easier, the mobile app development process should also include registration with social media platforms. By social media integration, the service registration process can be easier and faster for the users.
Real-time Group Chat
In video streaming applications, to turn the platform more engaging, dedicated app developers should integrate a real-time group chat feature. It will allow users to discuss the programs with each other and recommend other series, which will help to get the views, spread awareness about the programs, and increase engagement. Through chats, you can also know the opinion of the users and improve your content in a better way and deliver it as per user preference.
Comments
Offer a comment section to the users on particular episodes to share their views. It will help you to know in the initial stage how your users are reacting or connected with the content. The addition of the Comment section will help you to improve your story during the run time and it will help you to know what users expected in the particular episode.
Multiplatform support
Develop the video streaming app, which supports cross platforms. To reach a wider audience, introduce your app on all platforms including Android, iOS, and web. By targeting the widest range of devices, you can target maximum users and increase your brand awareness.
Designing
Don’t miss to focus on the designing factor, as it helps an ability to attract and connect the users with the theme. The layout should be attractive and not so boring that users lose interest. UI and UX are based on interactive and engaging attributes, it will help you to entertain users for the long term.
User Friendly
The video streaming app should be based on a user-friendly interface. Users should be able to navigate the apps easily and without any technical skills or support. Apps should have extraordinary functionalities and features but when it comes to user perspective, it should be easy to use. Along with this, developers should design in a way everyone can leverage the benefits of the app.
Recording
In the hassle of living, users may not catch up with all the live sessions. Video app streaming should have a recording feature in the app. So, users can record it and watch it later in their free time.
Live Sessions
To connect with users and entertain them for a long time, it is important to have some live sessions with them constantly. It will help you to have discussions about programs or daily lives and know their views and what their expectations are related to content or app. Live sessions will help you to reduce the communication gap between users and video streaming app management.
Related Post: Guide on Video Streaming App Development like Netflix
Top Most Video Streaming Apps
Most popular video streaming services in the United States
| Sr. No | Video Streaming Apps | No. of Users (In Millions) |
| 1. | YouTube | 197.5 |
| 2. | Netflix | 72.9 |
| 3. | Hulu | 55.6 |
| 4. | Vimeo | 35.5 |
| 5. | Dailymotion | 21.1 |
| 6. | Amazon Prime Video | 20.7 |
How Much Does it cost to develop Video Streaming Apps?
The video streaming app development cost is dependent on several factors such as App Features, Design, platforms, and the location of the app developers.
App Features
Features have a direct impact on the prices of video streaming apps. More features in the app will lead to rising prices. If you are launching the app the first time, so just launch it with core features. It will help you to observe the market with less investment. After reaching a wider audience, you can upgrade the app with advanced features.
App Design
Designing elements like UI and UX are the major aspects of mobile applications. With attractive fonts and colours, it is also essential that users can easily access the functionality. To maintain long term relationships, it is essential that users can easily access functionalities.
App Platforms
There are two major types of video streaming app platforms and they are Android and iOS. Android app development differs from iOS and it is less expensive also.
Location of Developers
The cost of a video streaming app differs according to the regions and areas.
Related Post: How to develop a Video Streaming App like Netflix?
Conclusion
The number of video streaming mobile applications are rapidly growing on Android and iOS platforms. There is high competition for video streaming apps, and the number of downloads of popular apps is also growing. It is essential to attract users with the modern and latest integrated features and technologies which helps to stay ahead in the future market competition.
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