Remember a time when there was only one video device for the entire house called the television, and there would be little fights within the family over who would watch what show when? Such hassles and conflicts have been amicably and pleasurably resolved, thanks to the entry of video-on-demand applications.
What Is Video-On-Demand?
Video-on-demand, as the name implies, is a video solution available across the internet where you can watch what you want at any point in time. This is in stark contrast to the usual television which forces you to watch what they relay at a certain time.
As you can observe from the surface, this gives a lot of flexibility for the users and also gives a lot of room for entertainment/streaming companies to target multiple users at the same time, increasing exponentially the consumption of their content. Let us take a simple example. In a home where four people can sit and watch just one television for one hour, the cumulative consumption still remains one hour. The interest levels might also vary.
However, with a video-on-demand application, the cumulative time spent on consuming video content is effectively four hours, and that to come up with a considerable degree of personalization, making the consumption of video content even more effective.
Perhaps, it would’ve been easy for you to understand if we were talking about an app like Netflix instead of talking about a video-on-demand mobile app. This is the extent of black power that Netflix exercises over this particular stream of business. It is far ahead of even its nearest competitor in spite of being backed by a big brand name that has its presence in multiple verticals… Yes, we are talking about Amazon and its video offering, Amazon Prime.
Today, Netflix serves as the poster child and the primary case study for anyone who would like to build their own video-on-demand app.
Let us look at some aspects of Netflix in good detail and how you can learn from Netflix to replicate the same success in the video-on-demand space.
It has been estimated that the global video streaming market would be worth about $125 billion by the end of 2025. The extrapolation makes a lot of sense because the success of Netflix has opened a lot of different niches that an entrepreneur can explore. What has been brought to the world of entertainment by Netflix can be carried on to different domains like education, fitness, hobbies, celebrity engagements, and a lot more. If you are an aspiring entrepreneur, now would be a perfect time for you to start a video streaming app like Netflix.
Today, it has been estimated that about 15% of the world uses Netflix! That amounts to over 1.18 billion people on the planet. The pandemic played an instrumental role in the skyrocketing of the consumption of multiple digital services including Netflix. Since people did not have any other source of entertainment that existed earlier… Like shopping, movie theaters, drama, and hanging out and traveling, they had to resort to a method of entertainment and engagement that would let them stay at home. There was no better replacement for them than watching videos on-demand.
This habit has stuck to a lot of people, and it has become an integral part of the lifestyle. Considering all these transformations, the market is right now for anyone to launch their own video-on-demand app.
The Netflix Business Model
If you were to launch your own video-on-demand app, you will need to have a business model in place. There are different business models within this domain but the Netflix model, although it might not be theoretically the best, has a very special place.
Netflix does not have any free content. They have three different offerings, the basic, the standard, and the premium.
The basic plan does not include high-definition content and you can watch your content only on one device per login credentials. The standard includes history content at 1080 P and people can watch content on two devices. The premium content which costs about $18 a month gives people 4K and HDR videos and they can be viewed on four different screens.
In addition, outside the app, the platform also earns its revenue from people who still want to rent DVDs or pay monthly subscription fees for DVD rentals.
Looking Deeper Into The Business Model
On the surface, it might seem like having zero content available for free is a bad idea. A lot of businesses try to use the freemium business model, so people can get used to their app/business/offerings.
Even Netflix is the same! However, they come in instead of using their platform, using an already established leader in the space, YouTube. What makes them special when it comes to their core offering is the advantages that they bring.
Netflix is accessible across multiple devices, operating systems, and on the web. Therefore, this obliteration of confinement expands the audience for Netflix. The growing resolution of mobile phone screens, tablets, and desktop screens makes the viewing experience more immersive and real.
Netflix ensures that there are no advertisements that interfere with your viewing experience. How often have you felt frustrated when one of the most thrilling parts of the movie is interrupted by an ad? Netflix ensures that the entire experience is seamless without any intrusive advertisements. Netflix is living and breathing proof that people are willing to pay for privacy!
Netflix also includes with this app, a unique and intelligent recommendation algorithm. The algorithm/AI understands your viewing pattern and helps you discover content that is more likely to be consumed. This ensures that people stick to Netflix and do not migrate to other platforms for the want of better content. It cannot be denied that Netflix has content in Aberdeen. The only drawback is that you might not be able to find the right content. With this recommendation engine in place, Netflix solves this problem.
Although this one might not fall in the technical category, the biggest reason for the success of Netflix is the rich repository of content that they have. With such unique content, Netflix demands viewership like never before. It is to be noted that 80% of the most-watched original series belong to Netflix in the year 2020. With this level of confidence and command over content, any app like Netflix is bound to win in the game of video-on-demand.
The Relevance Of Netflix Clone
We know that the market is ripe and the profitability in the stream of video-on-demand is almost limitless. However, to build an app like Netflix from scratch would be a cumbersome and daunting undertaking. Alternatively, you can make use of a Netflix clone app.
A Netflix clone app is a white label solution that can be purchased as a product. The Netflix clone script is easy to customize and you can garnish the app with features identified of your choice.
The Netflix app clone script has been perfect, so you will not have any glitches to interfere with the expected basic functionality.
The Basic Features
Although you go for a Netflix app clone, it is important that you are aware of what could be considered the basic features of any video streaming app.
- The user should be able to register themselves easily and the registration should also create a profile for them where they can give details of their preferences.
- The app should have a robust search function where people can search for content that they want.
- Push notifications should be in place, so people are notified if there is any new upload of their favorite content.
- The app should facilitate the creation of a playlist where people can watch their favorite shows seamlessly.
- The content should also be made available offline but within the app, so people can download the content that they need to watch and watch it at a later time, especially during travel.
- The app should be supported on multiple operating systems and platforms, and your app support should be available in multiple languages based on your demographic targeting.
- The app should be able to cost itself on bigger screens by using casting devices.
- The app should be integrated with a payment gateway that can accept payments from multiple payment instruments including but not limited to debit cards, credit cards, internet banking, and wallets. The fulfillment of payments should be flawless and automated.
Now that you are aware of the lucrative market, the availability of the white label Netflix clone app, and the basic features, all that is left for you to do is to get in touch with the company that specializes in the Netflix clone app development and customization. They will take care to understand a requirement and present you with perfect solutions that will launch into the world of video streaming, so you can start streaming your revenue!