The live streaming services are extremely popular today. The industry leaders are Netflix, HBO, HULU and Amazon prime. They offer users various content from favorite TV shows to sport shows and documentaries. The growing development of streaming industry was possible thanks to the transition from conventional ways of watching TV content at first to desktop mode and as a result in the end to mobile format. Users now prefer to watch their favorite show while on the go and don’t depend on their location. All this drivers resulted in enormous subscriptions to the above mentioned streaming services that of course provide their own apps. If you would like to join the likes of Netflix or Hulu and create a video streaming app, first you need to learn a thing or two about the core features and development cost.
What are the basic features of Netflix-like app?
The feature that Netflix has fall into the following categories: genre wise content, search/explore option, social integration, multilingual, watchlist, etc.
Genre wise content. In order to cater for the audience of different ages and tastes you should make sure that the content your video streaming app provided is versatile and belongs to different genres. Then everyone will be able to find something for themselves.
Search or Explore option is a must because this way your users will get an opportunity to look for new shows or receive recommendations based on the content they already watches.
Integrating social media into your live streaming video will allow your users to share shows posted on your service on their timelines. This way more their contacts will get to know about your app and make them the potential users.
Providing multilinguality feature in your app is important if you want to extend your business to more countries and nations and not limit it with boundaries of the country it is based in. Following the successful example of Netflix, that added multilingual support on their service in 2016 and thus increased the number of its subscribers by 200%. You can also include subtitles in other languages and audio dub.
Give your users the opportunity to keep a record of the shows they watched or are just planning to watch in the future by providing a watchlist feature. Watchlist usually contains several categories such as already watched shows, ongoing and featured series or custom lists made by users. For more deep user experience you can add user profile feature that will combine watchlist and users ratings of the shows.
Which monetization strategy do Netflix-like services use?
When launching your own video streaming service, sure you are expecting to earn money with its help. One of the main methods to generate income from streaming apps is subscription. In order to watch their favorite shows users will have to pay for it. You can offer them basic subscription plan to stream shows in low quality and premium subscription fee to watch shows in Full HD. You can also use advertisements as a way to earn more. However you should also offer your users an ad-free option.