How to Develop an On-Demand Video Streaming App: Feature Set and Monetization Model
Media consumption has been through some drastic changes in recent years. TV audiences are quitting traditional cable and satellite TV experience and shifting towards mobile on-demand video streaming app services, affecting some of the biggest telecommunications companies at the very heart.
So, what do you do after a stressful day at work or during a long journey? What are your most common discussion topics during Dinner/Lunch with friends or colleagues? And what is your favorite indoor activity from the last couple of years?
Well, one of the answers to these questions will somehow connect to online shows and online movie streaming services. Modern people of any age like spending their dull time watching movies and online shows on video streaming apps. So, the main attraction of on-demand video streaming apps, it sits in your pocket and entertains you with the worldwide content of shows and movies.
Some Video Stream Apps and Their Statistics
There are a couple of popular video streaming apps like Netflix and Hulu; Modern technologies allow you to use these apps on almost all gadgets varying from Smartphones to smart TVs. The success of video streaming apps is inevitable. There are several entrepreneurs and SMEs who desire such a business, and they constantly gather information about the On-Demand apps, cost, and success ratio, and the companies who develop these types of applications.
This graph is only going up in the upcoming years. Planning to have your Video streaming app and looking to add your share to this graph next year?
The Future is On-demand Video Streaming Apps
With the success of the most famous video streaming apps, Netflix and Amazon Prime, the world is now switching to On-Demand video streaming apps, and it is quite obvious that more of the audiences are now enjoying the video streaming apps and they are switching their television to the video streaming apps.
The number of subscription videos on demand will grow from 250 million in 2018 to 450 million in 2022.
So what are the features in all these apps that are making them so popular among the audience and making them quit the conventional cable TV experience?
I was wondering about the business models of these companies that they are generating such an enormous amount of revenue and growing every year.
If you want to know the benefits of On-Demand Video Business, click here.
We got everything covered for you; follow us till the conclusion to discover every one of your answers.
How are we so much confident about our insight and research about On-Demand Video Streaming Apps?
As WebMob Technologies is a proud Tech Partner of “Ela Tv: On-Demand Video Streaming App”. Yes, we have recently developed & launched this on-demand video streaming service for one of our clients, and with 10,000+ downloads within a short span across the Apple app store and Google play store makes us proud, and we are glad that it is accepted & appreciated by users.
Some Features And Development Guide Of On-Demand Video Streaming
Here are some of the features and business models that can help and guide you to develop a market disruptive On-Demand Video Streaming Platform that can compete with the market leaders.
The first impression is always vital. The user’s journey begins from here. So, for a convenient user experience, this screen should allow the user to navigate through every feature of the app. Along with that, access to some of the recent releases, popular content, and categorized listings right on the home screen enable the user to dive directly into entertainment.
Search & Exploration:
The search section can enable users to find publishers, movies, and shows. Show some trending searches. Keep in mind that your search functionality should be intuitive and user-friendly; it should be fine-tuned with auto-correct and autocomplete suggestions, so the users don’t need to spend time typing in titles every time they search.
The favorite list is a home for everything users want to keep track of. Users can collect movies, shows, etc. they find interesting by adding them to their favorite lists. It allows the user to watch their favorite content without going through the searching and exploring process every time.
Allowing users to mirror their video content from their mobile to their TV sets is a big plus in the app. Mobile screen-casting to the TV with the Chromecast or any other way is a very attractive feature for the users as some people are not a fan of watching their favorite movies on a small mobile screen, so this feature gives them the freedom to watch their content on the bigger screen as well without paying a single extra penny for that.
To make this platform more interactive for the user, you should also allow your users to rate and review the shows and movies they’ve watched. Users should also be able to share the content with their friends via social networks. The sharing feature also works as a free promotional tool.
Video Streaming Quality:
On top of every feature mentioned above, the most important and which matters a lot is Video Streaming Quality. The main aspect of this app is to provide entertainment on-demand to users; unless the video streaming quality and user experience are not good enough, it’s not possible to impress the users.
To scope up this challenge, some aspects have to be kept in mind for developing an on-demand video streaming app, like implementing cloud storage service and bandwidth adaptive streaming. This reduces latency and gives the best quality experience to a large number of the user base.
Security & Content Piracy:
Content piracy is one of the major issues in the entertainment industry. To prevent the piracy of your content, security features like not allowing users to take screenshots or screen Recordings of content are very important. To ensure that the users are not taking false leverage of the app device, limitation security is a must.
I hope you got a fair idea of what users are looking for in an On-demand video streaming app. Now, the big question that arises is How we can earn money from an on-demand video streaming app?
Multiple monetization methods can be used to generate a handsome amount of revenue from video streaming services. All the existing market leaders have different monetization methods according to their business models. Here are a few monetization methods that you can opt for.
The subscription model is widely popular and extremely successful for some of the market leaders like Netflix. The user needs to purchase monthly or yearly plans to enjoy the content. In this case, the business model is to generate revenue from the subscription amount paid by the users.
Rent or Purchase Content:
If you don’t want to implement the subscription option, then this is the best alternative to is. The user might not be willing to pay for a whole subscription package if he/she just wants to watch a single movie.
Giving the option to log in to your app and browse through the content for free and just charging them for the content they want to watch might be a good option for users.
Very popular monetization method among content creators in today’s world, but it might be a frustrating one for the viewers. We all are familiar with the advertisement popping up in the middle of the video content. This is a very good monetization method. Brands are willing to pay a handsome amount of money to showcase their ads between your video content.
Ela TV is providing its content for rent to the users, and alongside that, Ela TV also generates revenue from the ads. We have taken this monetization method one step ahead. Not only just implemented regular ads from the Google IMA but also from “Ela It”.
Ela IT is a feature in the Ela TV app in which the local business has to pay a certain amount to add their business and offers. The ads that are going to display to the user will be location-specific, which enables more particular targeting of the ads to the relevant and nearby people, who can get benefit from their business and offers.
Widely acclaimed monetization method not just for video streaming apps but for all the apps out there. In this method, the user gets to download the app free from the app store and play store. They can register for the app for free and use the basic features for free. To access some of the features in the app, the user has to pay a particular amount of money to access that feature or content.
I hope you are clear in your head to choose or combine the above-mentioned monetization method. Are ready to get money flowing for you?
If you are planning to develop your own on-demand video streaming app? That was all the insights from our end for you for the initial phase.
If you want to know the benefits of On-Demand Video Business, click here.
Are you working on a live video streaming app concept? Work only with a reputed video streaming development company.
At WebMobTech, we have the finest team of developers who are well-versed with all the latest technological advancements. We believe in your idea and innovate it to become a digital revolutionary.Get a quote
As the On-Demand industry has already spread out its branches, each one is posing a lucrative prospect.
What is your take on On-Demand app development? Would you like to seize the opportunities it offers?
Want to know more in detail about how your content will be managed, secured, and delivered to your audience effectively? Contact us, and We would love to discuss your thoughts and share our experience & learning our team got from working on an On-Demand Video Streaming App. WebMob Technologies can guide & assist you through your next market-disruptive On-Demand Video Streaming Platform.
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