Ok, Let’s start with a question that-How many of us are watching television today?
Let’s admit this that our favourite pastime from eras is now in its last days. Earlier or later the craze of television is extinct for sure. We can easily witness that people have already lost their interest from TV, after the arrival of the internet and video streaming apps.
Video streaming app development is the future of the entertainment world. After witnessing great popularity of video streaming apps in the marketplace, the majority of the prominent market players are ready to invest a substantial amount in building a video streaming app.
Now the pre-produced contents are the next big thing in online digital marketing. Video streaming is trending with a great extent, and one-third of all paid materials are accounted for videos. 80% of the companies who used videos for their marketing are stated that they had a direct impact on their customers.
Videos will help to tap the global internet traffic and improve the businesses to address a broad base of customers. While the attention is moving towards pre-produced videos, there are even more significant trend upcoming – live streaming videos.
Overview of Live Video Streaming Market
According to statista.com
- Profits in the Video Streaming (SVoD) segment will reach to 25.8 million USD in 2020.
- Revenue is anticipated to show an annual growth rate (CAGR 2020-2024) of 4.1%, resulting in a market volume of 30.4 million USD by 2024.
- User invasion is 15.2% in 2020 and is projected to hit 16.9% by 2024.
- The average revenue per user presently amounts to 22.92USD.
- In global comparison, most income is generated in the United States (11.95 million USD in 2020).
Challenges in Video Streaming App Development
Video streaming apps are seeing entertaining but do we know what kind of challenges comes while developing these apps. One of the significant challenges in video streaming app development is of storing and transferring the vast data. The process of transferring the data can be costly, time-consuming and can also be bandwidth-intensive.
Usually, the price of the infrastructure would vary with the smaller changes of reusability after the enhancement of the features and functionalities of these live video streaming apps. Content transcoding and content distribution analysis can also be act as the challenges and can prove to be relatively complicated for video streaming app developers.
Best video streaming apps
We all are very much familiar and engage with video streaming apps like Netflix and Amazon. Though there are many other video streaming apps in the market currently, these two have dominated the Indian market.
Netflix is the most popular video streaming app which offers an array of entertainment. The app comprises of multiple categories that stream TV shows, movies, comedy specials, and original programming for a monthly subscription fee.
Users can sign up to five different profiles on a single account. The app offers multiple screens and quadrel screen features on which two or more than two users can relish the app at the same time.
Features of Netflix
- An outstanding collection of content
- Enhanced interface
- Useful recommendation system
- Reliable performance
- More costly than other services
- Titles come and go frequently
- Limited brand-new content
Amazon Prime Video
Amazon has already set its benchmark in the E-commerce industry; now, Amazon has set its roots in the entertainment world as well. With Amazon prime video streaming app, it gives competition to Netflix up to a level.
The app has offered various movies, television shows, and original programming. After the partnership with Viacom, MTV, it has become the first choice when it comes for the segment of comedy and children’s content.
- A varied collection of content
- Comprises Amazon Prime benefits
- Effective original shows
- Hardly gets brand-new videos
- Not accessible on some platforms
How to create a video streaming app?
So, we have gone through all the high points and established step by step process:
- Determine the end user.
- Select the streaming codecs.
- Choose which devices will support your application.
- Check the average bandwidth speed in a particular region or county for which you are planning to develop the Video Streaming App.
- Add additional features and functionality.
Benefits of Live Video Streaming App
- Live video sharing
- Local storage
- In-app purchase
- Picture in picture and background mode
Besides, video streaming can be used not only as a marketing tool but as an independent business if you develop your app. Selecting the right niche and monetization approaches can lead you to phenomenal success. Today, companies get puzzled over the features and functionalities of the app and find it hard to choose the best out of all the options for their business.
If you have been looking for a development team to develop your exclusive video streaming app, let our video streaming app development company help you decide the best features and functionalities to have in the app. If you have any queries, get in touch with SVAP Infotech, and we will help you. You can also visit our website to see the best mobile app development solutions developed by our competent developers. Hire video streaming developer from SVAP Infotech and relish a tremendous success.