This post includes information for tech startups or entrepreneurs. Herein we’ve curated 4 important features, which you can consider during video on-demand app development.
The subscription on-demand video apps like Netflix and Hulu have become so integrated into our lives as we do use other essential on-demand apps like Uber to book a taxi. Well, this niche has been experiencing a sudden boom from the last few years, especially these apps, which are named as Netflix, YouTube, HBO NOW, Hulu and Starz.
Before heading to the main section of this post, let’s first check what latest reports from Sensor Tower Store Intelligence say about these on-demand mobile applications.
- According to the latest report from Sensor Tower, you can see the top 10 U.S. SVOD (Subscription Video On-demand) mobile apps for the last quarter. And, the first five mobile apps were the same in ranking as these were in 2017.
- On the other hand, shedding light on the latest report from Sensor Tower Store Intelligence, the third quarter 2018 revenue growth, the U.S. App Store and Google Play users spent an estimated $329 million in the 10 highest earning subscription video on-demand (SVOD) mobile applications. These represented growths of 43% over Q3 2017.
- In this image, you can check the top five U.S. mobile SVOD apps of 3rd quarter 2018 revenue growth. The app, Netflix, has experienced a boom in revenue.
Well, you have gone through with the latest reports, including revenue growth of subscription video on-demand apps in 2018. Let’s check out more about how strong this niche is?
Insights of Video On-demand: The Market Size, Stats & Trends
The video on-demand services let users video on-demand apps like Netflix or Hulu to decide when and where they want to watch the TV series or movies.
If you want to create subscription video on-demand apps like Netflix, Hulu or YouTube, then you need to check the following statistics. According to Statista:
- The worldwide revenue of video subscription apps was US$23.7 billion in 2017.
In 2018, the revenue in subscription video streaming (SVoD) segment amounts to US$19,572 million.
- The revenue is expected to show an annual growth rate (CAGR 2018-22) of 5.1%, resulting in a market volume of US$23,883 million by 2022.
- In global comparison, the most revenue is generated in the United States (i.e. US$11,335 million in 2018).
- 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.
- Netflix has become the top players in subscription video on-demand services. And, the United States is one of the top regions to start with the on-demand video streaming services.
- According to the latest report from TechCrunch, Netflix is testing a new feature, which lets users instantly replay scenes.
- 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.
- Another report from TechCrunch.com, Netflix is launching a new feature on the iOS device that will make it easier to watch its shows when you are offline. This feature, smart downloads, will automatically delete a downloaded episode after users finished watching, then download the next one, but when users are connected to Wi-Fi.
4 Important Features to be Considered While Developing Video On-demand Apps like Netflix or Hulu
1. User Registration, Search & Watch List
When it comes to the video-streaming app like Netflix, one of the basic features is user registration. By including this feature, app user will be able to access the video-streaming app. So, such feature like user registration must be easy to use for users. The next essential feature is to allow your app users to search for videos in video-on-demand apps like Netflix. Such a feature must design in a way that every age group can easily use the streaming app. It must enable app users to download the video to watch any time without any hassle. This feature, watch list, allows your app users to download videos to watch anytime and anywhere.
Image Source: netflix
Being a startup or entrepreneur, if you are planning to create an app for on-demand solutions, then you need to include such features while developing video on-demand app.
2. Share The Screen or Screen Mirroring
The next essential feature is to allow your app users to share the screen, it is essential to integrate screen mirroring. Such feature lets your app users switch the media for a better viewing experience. To provide ease to your video streaming app users, it is pivotal to consider during video on-demand app development.
Image Source: adeprin
Alike Netflix & Hulu apps, you should consider such important feature in order to get Netflix like success. By including such feature, you can provide convenient solutions to them in terms of features.
3. Real-Time Analytics
If we see features from the admin’s perspective, then real-time analytics is one of the important features while developing an on-demand video apps like Netflix or Hulu. With this feature, app user (admin) can see the viewers and broadcasters in terms of graphs. By including this, they can easily know the performance of the videos in real-time. So, this type of feature is important to integrate during video streaming apps development.
Image Source: tatacliq
By providing such feature like real-time analytics, the admin/user will easily get to know the analytics in real-time.
4. Payment Gateway Integration
In (SVOD) subscription video on-demand tracking app, payment gateway integration is one of the core features, which can’t be neglected by you while developing video streaming apps like Hulu or Netflix. In order to provide convenience to your app users during subscription, it is important to offer a seamless online platform for payment. So, you need to be very careful while including this type of app feature.
To provide ease and convenience to them, you need to provide feature from which they can easily pay through wallet apps, debit/credit cards, and PayPal.
Image Source: netflix
So, the more convenience you provide to your users, they will be more engaging with the online platform or mobile app, which you offer. Additionally, don’t forget to embrace multi-currency support while developing video on-demand apps like Netflix or Hulu.
Should You Go With The Subscription On-demand App Development?
Being an on-demand video startup, if you have ever thought of creating an app like Netflix, Hulu, or YouTube, then it is a high time to go with it. Before taking any decision, you need to check this graph. The entertainment industry will experience a boom in near future. Moreover, live streaming is going to be the future of this sector.
Therefore, it is safe to say that you need to embark with the subscription on-demand app development.
If you are having an app idea on the video on-demand apps like Netflix or Hulu, then you can cross-verify it with us as we are a leading iOS app development company and we’ve already developed over 60 on-demand video-streaming apps along with unique features and functionalities.
In case, if you may have any query or confusion regarding on-demand video streaming video app development or how much does it cost to Netflix like apps, how to make money with an app idea, or mobile app development cost calculator, 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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