Were you aware of the fact that US adults spend over 6 hours per day watching video content on average? This includes time spent on watching live and time-shifted TV content, app or website-based video content, connected-TV, etc. It should give you a fair idea of how much people are inclined on watching videos than any other form of content. If you want to make a video streaming app and turn it into a profitable business, this is the best time ever.
Netflix, the harbinger of the OTT revolution that has fueled the video streaming industry, is often kept as a benchmark for making a video streaming app. It focuses on providing easy navigation and search option to the users along with a great user interface. You will be amazed to learn that around 80% of the Netflix streams can be accredited to its robust AI-based recommendation system. This should help you figure out what features are important to start a video streaming app and make it popular in the contemporary.
The global pandemic has also contributed significantly to the exponential growth of the encrypted video streaming industry. One of the most prominent reasons why more people have started watching OTT content is because of the nationwide lockdowns that forced many to stay indoors. This was among the best entertainment sources they could have opted for. Now, the increased demand for new video content has also invited a large number of competitors. To excel in this space, you need to have a talented app development team or service provider.
This will help you create a video streaming solution that has exceptional UI-UX and offers a rich online experience to the viewers. Let’s delve deeper into how you should create your video streaming platform for the targeted audience in 2021.
Building your own video streaming app
Wondering how to make a video streaming app that stands out? Here are some of the most crucial aspects of creating a video streaming service that will decide the success of your venture.
- Research your niche
The first and most crucial determinant of the success of your video streaming app is your niche. You should thoroughly research the specific niche that you want to get into using your video creation endeavor. This will also help clear out who your target audience is.
- Content availability
The second thing that you should be mindful of before you start to develop a video streaming solution is the frequency of content. You will need to decide how often you will be putting up new content for your users. Consistency is the key to winning in the video streaming space, so make sure that you put up new content consistently at a pre-decided frequency. This also entails thinking about whether you will create your content or use videos from other distributors.
- The monetization aspect
A reputed video streaming app development service provider will offer you the option to choose from multiple monetization models so that you have the needed flexibility to generate revenue. Some of the most commonly offered types of monetization options are as follows.
- Advertising model
In this case, your users don’t have to pay a fee to obtain access to your content instead they have to watch the advertisement that is being shown on the portal. It offers free access to everyone and you will generate revenue from advertisements by different advertisers/marketers.
- Subscription model
The subscription video-on-demand model is the most commonly used one in the contemporary. Global players like Netflix and Amazon Prime Video also use this monetization method to charge their users. Users can select from different types of subscription plans to watch the content.
- Transactional model
This monetization method is also called as ‘Pay per View’ model. Here, the users have to pay and buy any specific content instead of getting access to a video library. It helps to generate a higher revenue since each content is being sold individually.
- Server-Side Ad Insertion model (SSAI)
The server-side ad insertion model uses the concept of dynamic advertising and displays different types of advertisements to different users based on their profiles. You can stitch the ads with the videos being displayed using a good OTT video streaming software and display the advertisements to the targeted audiences.
- Third-Party ad integration model
The top video app development service providers also give you the option to use third-party ad integration tools. It helps to maximize your topline by integrating with third-party advertisement services like Verizon Media, Google AdSense, Open X, etc.
- Essential requirements for video app
Before you jump into creating your video streaming application, you need to meticulously study the essential requirements for creating a highly dynamic application. Factors such as internet speed, hosting and computing infrastructure, security, network connectivity, payment gateways, etc. should be researched properly before you start with the app development process. They give you a fair and practical idea of how video streaming app work. You need to take a holistic approach to think about the essential requirements for video app creation.
7 Crucial features for your video streaming app
These are some of the most crucial features that your video streaming application must offer in today’s time to entertain a large and diverse audience.
- Easy login and registration
You should know that the attention span of an online visitor is very low. If you keep on asking them to share irrelevant information, they will lose their patience. Your login and registration process should ask for the most important details only and it should also offer an option to log in using social handles as it is far more convenient.
- User profile creation
You already know that around 80% of the Netflix stream happens because of its powerful recommendation system. You should always provide the option to create a good user profile as it helps your platform to learn more about the viewers and recommend relevant content to watch.
- Payment gateway
A dynamic payment gateway helps you in accepting payments from multiple sources. If you are targeting a global audience and want to create a web-based platform, it is very important to keep multiple payment options for your users to pay for their subscription charges online.
- Push notifications
Having the push notifications feature in your application can help to boost the engagement rate. It also helps to connect you with your viewers on a more personal note. They are more likely to open a push notification and learn about the new content available on the platform/application.
- Rich user settings
A rich user setting option will help to provide a great user experience. User settings focus on the convenience aspect of the platform, it can include features like pause and play button, language change option, subtitles, etc. Users find it easier to interact with platforms that have a wide range of user settings.
- Multi-language support
Your audiences should not be limited just because of language barriers. You should always create an application that allows users from different geographies to enjoy your content in their native/preferred language. This will help to increase the number of viewers and views on your platform.
- Admin panel access
This feature can be understood as a small application within your video streaming app. By using your admin panel, you can easily edit videos, moderate comments, upload and publish content, delete existing content, etc. It even allows you to add more users with the necessary permissions to help delegate tasks.
Conclusion
Choosing the right service provider for your video streaming app development can be tricky but finding the right one will give you an edge over the competition. You should always opt for service providers that have been in the industry for long as they have seen the market evolving and can help you build a video streaming app that is dynamic and feature-packed, without compromising on the user experience.
