- YouTube, one of the best video uploading and sharing platform, has about 2 billion monthly active users.
- The famous video streaming app- Netflix has over 183 million subscribers and plans to spend $26 billion annually by the year 2028.
- By the year 2027, the worth of the global streaming market is expected to reach $180 billion.
These staggering numbers forecasted by Comparitech.com,
a leading portal for technical research, show how monumental the video
streaming industry is going to become. No wonder why the video streaming app
development has gained momentum in just a few years. Several big
names in the corporate world are investing heavily in this arena.
If you too are thinking of investing in a video
streaming app, this article is the right read for you. Here we have outlined
the top reasons why it is a thoughtful investment. But before we dive deeper,
let us also glance at the reasons for the massive popularity of these apps amongst
the end-users. The end-viewers enjoy the following:
- Easy access to unlimited content and freedom of choice
- HD viewing experience in real-time
- Ad-free entertainment unlike traditional television programs
- Mobility and portability
- Feasibility of watching at our timing and comfort
- No need for extra investment in the equipment like TV, a Smartphone with high-speed internet is enough
- No botheration about data storage
Potential Benefits of Investing in Video
Streaming App Development
Passionate online community
Viewing
habits have changed enormously in the past few years. Millennials and Next-gen users are especially drawn
towards these modes of entertainment as it offers quality, flexibility, richer
content due to which they are pretty passionate about these on-demand video
streaming platforms. These groups form a loyal and passionate community.
Elevated user-engagement
The
video sharing apps include a wide range of high-resolution content such as web
series, TV shows, movies, etc. and categorized in genres like thriller, action,
comedy, romantic, etc. All these are available to the users at their finger-tips
and at affordable prices. What else does a user want? As a result, compared to
other less appealing entertainment models, these platforms promise an enhanced
user engagement.
Access to unlimited customer-base
The
target audience for these apps is not limited to any particular location but
distributed across the globe. Also, these apps display content in diverse
languages for countless users to access conveniently. Due to this, the app
owners can rest assured about getting access to a massive number of users, if
the app is well-built and suits the need of multiple users.
Easy sharing options through social
apps
These
apps can leverage the power of social sharing by the integration of social
media links for the users to share the content in a hassle-free manner. If the
content is liked by the users, chances are that the app gets viral in a short time-span
while enhancing the brand image.
Enormous opportunities for revenue
generation
Regular revenues can be generated from these apps because rising numbers of users subscribe almost daily. But for making money out of these apps, it is crucial to hit the right target and ensure high customer engagement. After that, monetization of the app can be done with the use of 3 different models as below:
- Creation of a paid application with monthly, quarterly, or yearly subscription plans.
- Freemium business model in which the end-users must be provided with some basic features for free and charged for other advanced features.
- Through advertisements. This approach usually works better for reputed apps.
Futuristic Investment
Digital
media consumption has touched a new height in the last couple of years. This market
is soaring like never before. So, if we look at the bigger picture, video
streaming applications are quite future-friendly. The viewers seem to like this
concept quite a lot and every year, the number of users is exponentially
rising. The statistics from several market research companies forecast the same.
So, this is undoubtedly a good investment.
Final Words
In today’s era of 4G speeds of the internet, mobile users
are addicted to on-demand services like instant access to high-resolution videos
in minutes and ad-free entertainment. Video streaming apps provide all these and
therefore have become one of the most emerging business models.
So, if you are convinced
about the benefits of investing in them and want to create one, Biz4Solutions,
is are liable technology partner. We are one of the eminent web and mobile application development companies based in
Texas known for developing amazing apps with new-age features and user-centric
capabilities. We provide top-of-the-line social networking
app development services to global clients.
Contact us for more detail or reach out to us at sales.enquiry@biz4solutions.com.
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