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Netflix is now attracting TV viewers from all over the world. What is the secret to such fervor? Multiple service packages provide easy access to a plethora of TV shows, movies, original shows, and documentaries. While people become addicted to Netflix's video streaming services, businesses are going above and beyond to create similar apps like Netflix with additional features that can beat the Netflix fever.
Here are some interesting Netflix facts and statistics:
- Netflix's audience accounts for 40% of all internet traffic worldwide.
- Netflix accounts for 8% of all binge-watching time in the world.
- Netflix's streaming revenue in the United States will be around $7215 by the end of 2020.
The Business Model of Netflix
Netflix discovers that its subscribers own multiple interconnected digital devices and can watch their favorite shows on any of them at any time. Furthermore, having a separate subscription for each member of a family makes no sense. Given that Netflix has four subscription plans, each with its own set of features. These plans specify which devices users can use to watch videos on and how many members can stream at the same time under a single subscription.
- The mobile plan allows you to watch SD videos on a single mobile/tablet device.
- The basic plan allows you to watch SD videos on any device at the same time.
- The standard plan allows you to watch HD videos on two devices at the same time.
- The premium plan allows you to watch HD videos on up to four screens at the same time.
Netflix serves three business segments: domestic DVD, domestic streaming, and international streaming. Netflix began with a domestic DVD model and gradually transitioned to video streaming. Domestic streaming generates the most video of the three models. However, since 2018, this video streaming app has begun to focus on the global market by producing and providing country-specific or area-specific content. Netflix's profitability has been steadily increasing since then.
Key Characteristics of an Online Video Streaming App
Netflix, a video-on-demand streaming app, has grown in popularity due to its exceptional features. If you want to create an app like Netflix, you must at least consider these features.
Setup Multiple Accounts: Once an account is created, users can add up to five separate user profiles for each family member or friend. As a result, each profile can have its own favorite list, recently watched list, ratings, and personalized show and movie suggestions based on previously watched videos on Netflix. Also, if a user deletes a profile, his or her watching history and saved list are permanently deleted.
Multiple Control Levels:
Users can choose between four maturity levels when creating profiles, ranging from children to adults. If this is insufficient, they can create a PIN under the ‘Parental Controls' section in Settings to prevent children from switching profiles.
Filters for Content Search:
Filters for Content Search: Netflix allows users to narrow their search using filters such as title, actors, directors, or genres to find the best content that matches their preferences.
Adding Content to ‘My List
Ratings for Content:
Ratings for Content: This app allows users to rate a movie or show by thumbs-up or thumbs-down, and Netflix will show them less similar content as a result.
Download Feature:
Download Feature: This is why Netflix offers the option to download a list of shows or movies (up to 100 at a time) so that users can watch videos even when there is no signal. Furthermore, users can save all of their data by only allowing content download when their device is connected to WiFi.
Netflix Roulette:
Netflix Roulette: Similarly, most users spend more time deciding what to watch than actually watching something from the vast catalog of entertainment. As a result, Netflix introduced a feature in which users can select a genre, type, or IMDB, and then tap the spin button to explore a list of random content that matches their preferences.
Turn off Autoplay:
Turn off Autoplay: This video streaming app, on the other hand, allows users to disable autoplay, which prevents Netflix from automatically playing the next episode when they are watching a TV show.
Delete Browsing History:
Delete Browsing History: Users may find such suggestions based on ‘because you have watched...' annoying. As a result, Netflix has made it possible for them to delete those blemishes from their Netflix history, making their streaming experience smoother and more enjoyable.
Tips for Creating a Netflix-like Video Streaming App
Here are some guidelines to keep in mind while developing a Netflix clone app.
The interface is the first thing that users notice. Make sure it's easy to use and enjoyable to look at.
If you want to expand your user base to other countries, provide services in multiple languages, and so on, create a futuristic and future-proof app. It will eliminate the need for the app to be completely redesigned.
Allowing users to log in via multiple methods such as email, Facebook, mobile number, and so on will add an extra layer of convenience.
The mobile application should work seamlessly across multiple platforms, such as smartphones and tablets.
The user data and payment gateway should be completely secure.
Create functionalities that will make it easier for users to watch, save, and share their favorite movies or shows before creating a video streaming app.
Factors influencing the cost of developing a video streaming app
The price of a video streaming app is determined by a variety of factors. Some of the most significant are:
App Features: We have already discussed the key features that you should include in your app in order to succeed in the market. The app development cost will vary depending on the number of features you want to include in your application.
App Platform: The technology used to create and maintain a Netflix clone app development determines the development cost. Swift, Objective-C, Kotlin Java, React Native, and other technologies may be included. You should select technology based on the problems you want to solve and the goals you want to achieve.
Location of development company: Most businesses outsource app development to focus on their core idea and in-house operations. When planning to outsource, keep the location of the mobile app development company in mind as it is an important factor in cost estimation.
The rate of app development varies by country. In North America, for example, development rates range from $50 to $250 per hour, whereas app development services in India range from $15 to $80 per hour.
When you hire Indian mobile app developers, you will get the same work done at a much lower cost than in the United States.
Other popular video streaming apps around the world include:
- Prime Video on Amazon
- YouTube
- HBO Now is now available in the United States.
- Hulu, Twitch, and Crackle
Final Thoughts
People have been shifting away from text-based content and toward audio and then video in recent years. Bloggers are also becoming vloggers in order to retain and grow their following. With all of this video content being created online, platforms or mobile apps are required to expand its reach.
There are currently a plethora of video streaming apps on the market, but none can compete with Netflix. If you believe your idea has the potential to outperform the video streaming market, contact the experts at a reputable mobile app development company.
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