How to Develop Video Streaming App: Tips and Tricks To Choose the Right Niche
You can create a successful streaming app by modeling the business practices of Netflix, Hulu, DirecTV NOW, YouTube TV, and HBO Now. Never has it been easier to pitch content for your niche audience. The video streaming app market has exceeded over ten billion viewing hours. Conventional delivery methods are losing market share at alarming rates. Mobile video services are quickly taking their place.
There are several reasons for this, but one of the most significant is the paid subscription model that virtually eliminates advertising. This article discusses some of the most successful video streaming providers and the considerable differences between them. It culminates in an overview of how to you can create a streaming app.
Netflix
Not long ago, few would have predicted that Netflix would be mentioned in the same breath as the Emmy Awards. It pioneered modern media with its cord-cutting streaming app. The Netflix on-demand delivery method developed into a dominant media platform. Its business model grew to a valuation of over $100 billion with subscribers that exceeded 118 million.
There are four critical elements to the Netflix business model that can be applied to any Video-On-Demand (VOD) enterprise. Netflix is a Subscription-based VOD (SVOD) provider. Its strict adherence to the paid subscription model yields consistent income with low fixed costs. This results in a scalable video streaming app solution that was years ahead of anything available on the market at the time.
Scalability is the primary reason why Netflix can focus so much effort on growing their brand. The other is accessibility. Netflix is available on virtually any device that can play videos. Their users never need an alternate service. The company also employs third-party partnerships to supplement its direct services.
The retention of Netflix customers is impressive. Through providing original content without advertising, Netflix has brought viewers the product they always wanted. Negative influences from advertisers have staunched the growth of media giants like YouTube. It is hard to attract viewers once they have grown accustomed to Netflix’s uninterrupted programs; even if, they can cancel at any time. Each of these factors strengthens the Netflix business model, which in turn enables it to produce more original content. This grows both the customer base and the brand.
Hulu
Hulu is another popular cord-cutting streaming app. Its success is a testament to the growing trend of on-demand delivery platforms. One of Hulu’s specialties is live stream TV. It has a collection of one of the most diverse selections of movies and TV shows.
The company evolved from a dynamic partnership with TV networks. Over time, this grew into a joint venture with Comcast, Time Warner, Walt Disney, and 21st Century Fox to form a natural extension of its business model. Hulu currently employs a dual SVOD / Advertising VOD strategy.
The principal contributors to Hulu’s success are its onboarding, registration, payments, content, and monetization. Hulu excels at the onboarding and registration processes. These early engagements with customers enable the company to define user experiences and interact through social media. Hulu content is dependent upon variable payment plans. It supplements payment plans with sponsored ads. Other beneficial features include viewer categories, search functions, cloud-based storage, variable video qualities, Hulu Live TV, and video mirroring. Like Netflix, Hulu is available on virtually any device.
DirecTV NOW
DirectTV provides alternatives to a conventional TV via subscription that is supplemented by pay-per-view events (Transaction VOD). The live stream on DirectTV Now is a dominant product in this space. DirecTV Now recognized the growing demand for the type of continent diversity that Hulu provides. Its subscribers have a lot of movies and TV shows to choose from. DirecTV is also a leader in offering free trials.
YouTube TV
YouTube is the primary distributor of user-generated content. In recent years, it introduced live streaming with much success. The inclusion of live stream TV changes the dynamic of the platform. While YouTube dominates online video, its advertising model struggles to compete with subscription-based providers. There are many things to consider when analyzing the YouTube TV transition. Unlike other video streaming services listed here, YouTube viewers are more like users than customers. Marketing campaigns often influence their likes and dislikes. This viewer feedback issue does not significantly impact pure subscription models. YouTube’s AVOD business model takes away from the viewer’s experience.
HBO Now
HBO continued to develop its brand by introducing a quality video streaming app. Like Netflix, HBO demonstrated a strong presence at the Emmy Awards. Even though it is only a few years old, the amount of content on HBO Now is very competitive. In addition to its reputation for premier movies, HBO Now offers its customers original series, specials, and more. It employs a combined SVOD/TVOD model. HBO also uses third-party services to reach its audience.
How to start your own streaming service
Planning to create a streaming app should begin by examining the Netflix business model. Netflix keeps things simple. They provide a subscription-based on-demand streaming service with the option to cancel at any time. Customers have video access for all their devices.
These basic VOD practices can be combined with a balanced plan to succeed at any level. Your platform will need a niche market. This will allow you to match content with your brand. Knowing your target audience and getting them to identify with your platform will go a long way toward attracting long-term subscribers. Also, dedicate your efforts toward building a strong social media presence. As far as accepting payments, Braintree and Stripe should provide all the integration that you need.
Carefully plan your Netflix style platform around each of these aspects. Your brand will grow in a favorable business environment, and customers will become increasingly loyal because they are in accord with the programs you offer.
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