The increase of the subscribers for a video streaming platform like Netflix can be simply witnessed on our nearby people as most of them must have a subscription to one or the other streaming platform. As per the latest record Netflix had estimated a growth of 7 million subscribers for the month of March 2020 but due to Covid-19, the actual increase in subscribers was 15 million in just one month.
That fact alone is proof that there is a huge demand for original and unique video streaming service. So it is no surprise that I see a lot of people asking the question on How to create an app like Netflix and how much does it cost.
Steps to create a video streaming website
Type of Content
Before launching the planning to create a video streaming platform the first clear perspective that you want to explain is what type of content you are going to offer your audience. It won’t concern if you are going to provide same content like the one that Netflix gives as Netflix is already dominating it. You should always try to fulfill a particular niche in a video streaming market as Netflix is a generalized entertainment platform.
Availability of Content
The type of content you wish to offer should also be checked for its availability or its content creators. The accessibility and quality of content creators will also play a key role in the performance or popularity of the platform. A long term contract should be carried with the content creators depending on the type of content you wish to offer.
There are various ways a video streaming platform can be monetized. The most popular one is to charge a monthly or yearly subscription fee if you think your target audience would prefer that or you can place advertisements on your platform and provide your content to the users for free. The monetization strategy mostly depends on the type and size of your target audience.
List out the resources required to fulfill your requirements
Once your requirements are finalized it is time to list out all the resources that you would require to fulfill your requirements. The resources would include Finance, Technology Stack, Total team members with required expertise or a professionally experienced agency, etc. The technology stack that you might require can be referred below
Development, Testing & Launch
Once the required resources are procured or arranged it is time to start the final development. Once the development is completed it is tested aggressively in various environments for its effective performance. After the testing team gives a go-ahead for the launch the final launching formalities like licensing are completed and the website or app is launched on a particular Platform.
Measure and Improve
Based on your audience measure required KPI’s. Besides, move through the user reviews which can give you a way of how you can further improve your platforms and gain more user engagements.
Hope following the above steps will lead you to a successful launch of a video streaming platform like Netflix.