The pandemic outbreak was the game-changer of the video streaming market. These apps became more popular during this time period. The lockdown has almost tied all of us in quarantine with very few options for entertainment. The video streaming apps are one of those few options.
Apart from the pandemic, people have upgraded their choices and are no longer interested in watching stereotypical television shows. They get inspired by the OTT content and have become more addicted. This gradual shift from people has boosted up the video streaming apps to come up with new exciting ideas.
In the current scenario, this is the most profitable business for entrepreneurs to plunge into. So, this is the right time to discuss with you the insights on launching a video streaming app like Netflix to kick-start your digital business.
How does an app like Netflix work?
When I say video streaming apps, you might surely think about Netflix, right? Yes, it is a leading video streaming platform. It is highly reputed and offers a wide range of video content for people. Netflix, like a video streaming app, runs on the concept of Subscription Video On Demand( SVOD).
It has both monthly and yearly subscriptions plans, and the users can opt for one among those. By opting for a subscription, the users get access to watch various video content. By subscribing, the users will get access to stream movies, original content, series, and shows on SD, HD, and Ultra HD quality.
How to get started with developing a Netflix clone app?
Before starting with app development, there are certain things to consider. Have a deep look into them,
Conduct your market research
Every business entity aims to launch a unique product or service. So the first step towards it is market research. Collect every detail about the video streaming market to analyze the recent trends and demands. There might be entrepreneurs like you with similar ideas. To stay ahead of the competition, proper research on the market requirement is important.
Identify your competitors’ strategies.
Even though you have your own ideas, it is absolutely essential to know your competitors’ strategies. The video streaming market has a plethora of key players, and only a handful of apps are succeeding in the market. All these can be observed through your competitor analysis. So, identify the areas where they lag and bridge them through your app.
You can also research the popularity of those apps based on the contents and subscription plans they offer their users. This can also become a benchmark for your business ideas. So, do not even miss a chance to explore each of your competitors.
Decide on your revenue model
When it comes to video streaming apps, there are several revenue-generating streams. You can select the most feasible one according to your business ideas. Some of the famous business models of video streaming apps are SVOD, AVOD, TVOD, etc. It is upto the type of service that you are planning to offer your users. So, based on that, you can finalize your revenue model.
Go with MVP features
While developing your Netflix clone, you can opt for the basic features. Since your app is at the initial stages of launching, it is fine to go with MVP features. These MVP features are cost-effective and will also be a great start for your app.
Hire an experienced team of developers
The success of your app depends on the team of developers you chose. There are plenty of app development firms that are mastering clone app development. You can approach them to get your ready-made app with which you can kick start your business in no time.
From them, you can purchase your ready-to-launch Netflix clone for a grandeur start for your digital business.
What is the expenditure to develop a Netflix clone app?
Developing an app with resemblances to the original Netflix app is quite a challenging task. All these will impact the expenses of the app development. If you are not aware of the factors influencing the cost of developing an app, have a brief look at the below passage,
App platform
As you all know, there are types of app platforms – Android and iOS. These apps involve different development mechanisms and will obviously impact the cost of the app. In general point of view, the iOS apps cost higher in comparison to the Android apps. If you wish to launch your app on both the arena, the cost will increase.
App features
The features of an app also have an impact on the cost factor. The number of advanced features you opt-in the app will result in an increase in the cost. The best way to bring down the cost is by incorporating only the major features. Anyhow your app will undergo numerous changes in the future. So at that time, you can incorporate the rest of the features.
UX/UI design
As the saying goes, “The first impression is the best impression,” the design and outlook of the Netflix clone app will draw more users to the app. Opt for the best and nominal color background and themes that can allure the users. On the other hand, you should also consider the budget because it will also influence the cost of the app.
The geographical location of the app developers
You might think, what does the location have to do with the app development cost? Yes, there are several instances to it. In case you hire developers from the US or UK, they will charge quite a lot of money as a fee. But in Asian countries like India, Singapore, and in west European countries, the app development cost is much affordable.
This is the reason why entrepreneurs highly prefer these countries to develop their apps. Along with this, the app developers will get paid for the total number of hours they spend in the development.
Wrapping up,
Post-pandemic, video streaming services attained a benchmark in the market. They have utilized this pandemic situation as a ladder to climb up and succeed in their business. This wave has paved a long way for entrepreneurs to make their entry into the market. Hurry up! entrepreneurs, and make your hay when the market is shining with your well-featured Netflix clone.
