We all know that video streaming apps like Netflix have been trending and creating a sensation in the world. Entertainment is a mandatory part of everyone’s life. People often go along with the changes in technology brings and adapt to it. Some years back, television and radio were the primary sources of indoor entertainment. They still exist, but they are not as prevalent as video streaming apps and new technology-based entertainment.
Video streaming Apps like Netflix keep users entertained and engaged throughout the day. Indoor activities are minimal and as the virus has us inside our homes, waiting for the situation to end, investing in a business that can shoot up earnings is a good idea. The pandemic is in favor of most online companies.
How are Video Streaming Apps Gaining Traction?
Video streaming platforms have gained a lot of popularity in recent times. They offer numerous content as documentaries, TV shows, and movies on one single platform. Thousands of movies and TV shows are telecasted for the viewers to watch for a subscription fee. These platforms also invest in filming their own shows and releases for the subscribers to watch. The idea behind this is to attract subscribers and retain the existing ones with their creativity, and it has achieved this.
The shows, videos, and documentaries are only available for subscribers; a word-of-mouth promotion can kindle the interest among non-subscribers and convert them. The idea behind this is to provide high-quality entertainment for the price the viewers pay and match their expectations. In the U.S. alone, the video streaming market earned a revenue of $24.1 Billion.
Netflix – Facts and Statistics:
- Netflix is an American-based video streaming platform.
- It has 208 million paid users in 2021.
- It earns an income of around $2.76 billion from its subscription services.
- The company invests in its own shows, streamed especially for its subscribers, and invests $7-$8 million per project depending on the genre.
- It offers three different packages for its subscribers- Basic, Standard, and Premium.
Elements Needed to Create an App like Netflix:
To create apps like Netflix, prepare a checklist of the following factors to proceed with app development.
- Have a clear-cut business plan. Define short-term and long-term goals and targets to spread out the idea. The goals should include budget, forecasts, backup plans, additional plans to implement, potential upgrades and initiatives to bring, etc.
- Verify your source of capital. There should be enough in-store to spend for necessary expenses and idea implementations.
- Conduct thorough market research, covering all the geographical locations you wish to launch your services in. Understand consumer behavior and preferences in those parts and what is trending.
- Research the regions you do not launch your services for and seek ideas from the ongoing business activities.
- Take only inspirations from the trends and work of your competitors. Avoid imitating their features as the probability of people opting for the existing features will be with the one who began the initiative. Concentrate on improvising the ideas and find ways to make them better.
- Create a unique selling point for your app. There should be a particular feature that contributes towards attracting people by standing out from the rest of the apps in the market.
- Conduct survey polls to understand the consumer’s mindset. Stay updated with the trends, their cost, and the best methods to implement them in your app.
- Approach a good developer with enough experience in creating video streaming apps.
- Enquire about the cost, features, packages, time is taken to deliver, etc.
- Add only the necessary features and ensure they fit the estimated budget as it is easy to get carried away by extra features.
- After the app gets developed, test the app for any technical errors.
- Launch the app on the platforms you desired to release it on.
- Upgrade the app frequently to make the app experience enjoyable and avoid monotony. Adding a couple more features after it begins can earn the app more attention and new installs while retaining customers.
Essential Features to Include in the App:
- Log in
To sign in and search and view the content.
- User profile
For the users to mention their basic details like name, date of birth, email address, etc.
- Content search
Search for content such as TV shows, movies, documentaries and stream them.
- Payment gateway
Include different payment methods like debit and credit cards, net banking, e-wallets to make the payment system easy.
Comment box regarding the content, expressing their experience with the same.
- Multi-language support
Support and provide multiple language systems for people from different regions and support.
- Screenshot blocking system
Block screenshotting ability to prevent infringement of privacy and prevalence of video or picture leaks.
- Admin panel
To monitor the activities of the users and administrate other activities.
Useful Technologies to Build Netflix Clone App:
Django, Flask, Go, Python, PHP, Go, Express, Laravel, etc.
Java, Kotlin, Swift, React native
Microsoft Azure, AWS, Google cloud platform, etc.
Ways to Channel Money – How Netflix did it:
To channel money for your Netflix clone app, its offer to the consumers should declare its quality and uniqueness. It should provide a sense of assurance and security to its users that their private information is locked from the reach of other users. Netflix’s primary source of revenue is subscriptions. It covers various regions of the world, offers multiple language support for people to feel comfortable using the platform, and provides a crystal clear quality of video streaming service to top it.
Initially, Netflix only operated selling and renting DVDs. With the advent of the Internet, the company recognized the need for revolutionary action and wisely took streaming services online to bring accessibility and quality in line with popular expectations. They provide numerous content in several languages, inviting people from different regions to avail the app.
Summarizing the above, to monetize the Netflix clone app, you need to:
- Provide good quality video streaming services
- Provide diverse content with language support
- Maintain quality of the content and app
- Good marketing support to reach a broad audience
Launching a Netflix clone built with the support of your wise decisions and an app developer’s technical experience will make the experience of app users shine through the existing Video Streaming Apps. Build your Netflix clone app after thinking through the process and plans. For the rewards awaits you.