This post includes information for those tech startups and entrepreneurs who belong to the entertainment category. Herein you’ll walk through a few winning strategies from Netflix, which make Netflix so popular among users.
Breaking down all the records, and it seems that the well-known movie streaming app, which does not require any introduction we believe. Well, it is all about Netflix, one of the top earning apps. This movie streaming app has already broken all the records, and it has created a buzz in an online video streaming niche.
Apparently, this craze is not easily going to fade away. The video distribution company, Netflix, is one of the largest media distribution companies across the globe. Nevertheless, Netflix is mainly known to provide an online platform, which enables its app users to watch TV shows and movies on various mobiles, Macs, Smart TVs, and PCs.
Netflix provides services under three segments such as international streaming, domestic streaming, and domestic DVDs. It also enables access and views more than 1 billion hours of TV shows.
Now, let’s move to know more about a few important stats, facts, and the latest trends of Netflix.
Netflix: Stats, Facts & Latest Trends
The online movies streaming app, Netflix, has a historical performance.
- As per the latest report from Sensor Tower, Netflix app has already set the new records on consumer spending on apps. In November 2018, Netflix pulled in an estimated $86.6 million in the worldwide consumer spending across iOS and Android apps. The combined figure is 77% higher than $49 million it generated last November.
- In July 2018, it grossed an estimated $84.7 million. And, till now, Netflix has grossed over $1.58 billion on mobile.
- According to the latest report from TechCrunch. “The company saw growth of 9.6 million paying subscribers in Q1 (Quarter 1), with revenue of $4.5B.”
- According to The Global Internet Phenomena 2018 Report, “Netflix accounted for 15% of all global downstream traffic volume in 2017.”
Image Source: sandvine
- Netflix’s U.S app revenue grew 76% year-over-year in November. Other countries are also involving on the other hand. For instance, Brazil grew 94%, Germany was 90%, South Korea was 107% and Japan was 175%.
- As per another latest report from Sensor Tower, which is all about the top mobile apps by revenue for November 2018. Netflix has reached its highest ranking in the App Store Revenue and the overall revenue.
- According to the latest report from SimilarWeb, “Currently, the Google Play Rank of Netflix app is #1 in the entertainment category.” In this graph, you can see the growing graph of ranking.
- In Q3, Netflix gained approximately 7 million new subscribers, with 5.87 million from International markets.
- Another latest report from TechCrunch says that Netflix loves to test new ideas and features for its customers. And its latest experiment is an odd new feature that allows viewers to watch a scene again. The spokesperson has confirmed that the company is working on the new feature, enabling Netflix members to rewatch favorite scenes and memorable moments with just one click.
- Netflix added 8.8 million paid subscribers across the globe. Netflix has released its fourth-quarter earnings report, and the revenue was $4.19 billion.
- Recently, Netflix has secured the top position in the list of top-grossing SVOD apps of 2018 with user spending of close to $965 million, showing 92% of growth from the previous year. The revenue of the app estimates is from Sensor Tower’s Store Intelligence platform.
- As per another report from TechCrunch, Netflix is launching a new feature, which is mainly aimed at better inserting its brand into those online conversations: Instagram Story integration. First launching on iOS platform, Netflix will allow users to share their favorite movies and shows to their Instagram Story directly from Netflix mobile app.
Undeniably, one of the popular movie streaming apps, Netflix, is taking over the Internet. And, it is worth watching to check a few winning strategies, which make Netflix so popular. Herein we’ve written some winning strategies from Netflix, which you can adapt during app development of streaming services like Netflix.
3 Winning Strategies to Consider While Developing a Successful Movie Streaming App like Netflix
1. Create a Global Online Platform
When creating an app like Netflix, you just need to keep in mind this phrase “bigger is better”. To target audience in bulk, you just need to create a global online platform. Just like Netflix, the company knows the current format in which people do want to see movies and the popular TV shows. The key factor is that you just need to understand the different prospects of customers just like Netflix. In order to target the audience in large number, you need to create an online platform globally along with quality video content.
In this competitive world, it is important to create an online platform, which is accessible for all. In this way, tech startups can grab their users’ attention without putting efforts.
It is also worth watching to check out the keyword “apps like Netflix” and its interest over time. According to the latest trends from Google Trends –
And, talking about the interest by region, then Canada, the United States, United Kingdom, and India are in the list.
With over 100 million paid subscribers, the craze of Netflix has become been increasing since 2014. So, make sure that you go global. In this way, you can target the mass audience.
2. Provide Your Users What They Are Looking Forward
The next important strategy is to provide your users what they are looking forward. So, all you need to analyze the market, your customers’ needs and you need to think even more what you can provide your users as per the latest trends. As long as Netflix is concerned, it provides solutions for those problems of customers which even they did not realize they had, especially in video streaming.
All top of it, you need to focus on solving the problems of users who love watching streaming video contents on apps. You can also pay attention to your users’ complaints regarding the video contents and provide solution for the same.
Sometimes, it is totally different when it comes to what is the best-suited for your business and your customers’ requirements. However, if we’re taking an example of Netflix, it provides exactly what its users need. And, make sure that you quickly adapt the fast-changing trend globally.
3. Make Things Seamless for Users of Every Age Group
One of the best things about Netflix is that it makes the online platform seamless. And, the user of every age group can access it on their own. An affordable online platform gives access to unlimited TV shows, movies, and different episodes from popular series. Well, Netflix has made things affordable and easily accessible that has driven users.
Image Source: netflix
Being a startup, you just need to develop a strategy, which helps you to reach more and more customers and can help you to double the revenue of your business. You can also reach your audience through social media and emails. If you have ever planned to develop an online movie streaming app like Netflix, then you need to adopt the tactics, which can add value to your customers’ lives and businesses.
The internet has become more diverse. If you as a startup want to dive into the niche of entertainment along with video streaming app like Netflix, then there are huge opportunities that come in your way to create a successful app for streaming services like Netflix.
In case, if you still have any query like –
- How much does it cost to develop an app like Netflix?
- What’s the development cost breakdown of movie streaming apps and to hire Android app developers in India?
- Is it beneficial to create an MVP (Minimum Viable Product) of movie streaming apps like Netflix?
- What’s the right way to approach a mobile app development company to create an app like Netflix type services?
- How to make money with an app idea?
Then, you can get in touch with us through our contact us form. One of our sales representatives will revert to you as soon as possible. The consultation is absolutely free of cost.
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