A Detailed Guide to Netflix-like OTT App Development [+Cost]
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Ankit Patel - February 15, 2024
- 6 min read
When it’s time to unwind and relax, many of us turn to the familiar phrase “Netflix and Chill.” It’s a cozy way to spend our weekends, escaping into the exciting world of movies and shows from the comfort of our homes.
For a while, nearly everyone in this world loved Netflix and this is the reason OTT platform development was all the rage.
By 2029, experts predict the OTT market will be worth a whopping $429.40 billion.
OTT apps learn what viewers like. They suggest shows and movies based on what they enjoy watching. It’s like having a friend who knows exactly what you are in the mood for. These reasons make OTT apps popular because they offer more flexibility, choices, and a tailored experience for each viewer. Like seemingly every other app in the world, OTT app development comes with its own set of rules.
In this blog post, we will talk about how to build your own Netflix like video streaming app and the costs associated with it.
Global Market Statistics for OTT App Development
- OTT market revenue is expected to grow from $295.40 billion in 2023 to $420.10 billion by 2028.
- India’s OTT video market is valued at $3,666.00 million in 2023 and is projected to reach $5,586.00 million by 2028.
- Netflix is the world’s largest OTT provider, boasting over 247.15 million paid subscribers and generated $33.7 billion revenue in 2023.
- Approximately 4.22 billion users are anticipated in the OTT video market by 2027.
Why People Choose OTT Apps Over Traditional Platforms?
Here are a few reasons why people prefer OTT apps over traditional platforms:
• Watch Anytime, Anywhere
On-demand video streaming lets users watch their favorite shows and movies whenever they want, no matter where they are. They can use their phone or tablet and are not tied to a specific place like traditional TV.
• No Ads or Fewer Ads
On-demand video streaming apps often have fewer or no ads interrupting shows. Traditional TV can have many commercials, but with OTT, a user can enjoy your content without constant interruptions.
• Lots of Options
There are so many shows and movies on OTT apps. People can explore different genres and discover new things to watch.
About Netflix Video Streaming App
Netflix is a famous subscription-based video streaming app where users can watch TV shows, web series, movies, documentaries, and original content on their smartphone, tablet, or TV. Crunching the numbers as of the third quarter of 2023, Netflix had approximately 247.2 million people who paid to use their service worldwide.
Image source: Dribbble
• Benefits of Netflix App:
- Users can watch as many TV shows and movies as they want whenever they want for a relatively low monthly subscription.
- There’s a free trial for one month where users can watch all they want for free.
- Compared to traditional cable or satellite TV, Netflix can offer a more affordable way to access a vast library of content.
Different Kinds of OTT Streaming Apps
When it comes to developing video streaming apps, there are three main types of OTT app development services offered in the market:
1. Service-based OTT Streaming Apps
These apps offer various services through online streaming, providing users with access to diverse content or functionalities.
Examples: Robinhood, Uber
2. Content and Communication OTT Streaming Apps
These apps combine content consumption with communication features, offering a multifunctional experience.
Examples: Hulu, Netflix, Skype
3. OTT in the Form of Devices
These are physical devices that enable Over-The-Top streaming services, allowing users to access content on their TVs or other screens.
Examples: Apple TV, Samsung TV, Hulu
Reasons Why Should You Invest in Netflix-like OTT App Development?
Creating a video streaming app for your business is a smart choice. It’s not just about keeping up with the latest technology, but it’s also a way to make more money for your business. Here are some reasons why should you invest in the Netflix clone app:
• Growing Market
The OTT market is booming, with a projected value of $429.40 billion by 2029. This growth is driven by increasing internet penetration, mobile device usage, and consumer demand for on-demand content.
• Content is King
If you have unique, high-quality content that caters to a specific niche or offers something fresh, you can build a loyal audience and stand out in the crowded market.
• Brand Visibility and Recognition
Having your own OTT app can make your brand more famous. It’s like putting your business name on a big stage, making more people know about what you offer.
• Diverse Revenue Streams
You’re not limited to just subscription fees. You can explore advertising, pay-per-view options, or in-app purchases based on your content and audience.
• Customer Loyalty and Engagement
Offering a personalized and enjoyable experience through your app makes customers happy. Happy customers are likely to stick around, becoming loyal to your brand and recommending it to others.
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Essential Features to Include in OTT Platform
Building a successful OTT app like Netflix requires incorporating several key features to attract and retain users. Here’s a list of essential features to consider:
• User Authentication (Sign Up and Log In)
Lets users create their profiles, helping the platform understand their tastes. This, in turn, leads to better content suggestions based on their viewing history.
• Multilingual Content Availability
Allows users to enjoy content in their preferred language, making the platform more inclusive and appealing to a diverse audience.
• Search and Filtering
Enables users to quickly find the content they love, saving time and ensuring a more enjoyable viewing experience.
• Watchlist and Continue Watching
It permits users to create a list of shows or movies they want to watch later and easily pick up where they left off. This adds convenience and enhances user satisfaction.
• Multi-Device Compatibility
Develop the platform for various devices like smartphones, tablets, smart TVs, and streaming sticks to reach a wider audience.
• Offline Viewing
Allow users to download content for watching without an internet connection.
• Live Streaming
Offer live events or channels to expand content variety.
• Social Integration
Allows users to share their favorite content with friends, fostering a sense of community. It also helps them discover new shows or movies recommended by others.
• Playback Controls
Provide standard controls like play, pause, rewind, fast forward, volume adjustment, and subtitles/closed captions.
• Multi-Language Support
Cater to a wider audience by offering the app in various languages.
• In-App Purchases
Gives users the option to access premium content or additional features, enhancing their experience and providing more choices for entertainment.
• Payment Gateway Integration
Ensures a smooth and secure payment process when users decide to purchase premium content or services, creating a hassle-free experience.
Step-by-Step Guide to Build a Video Streaming App Like Netflix
If you want to build an OTT app like Netflix you must follow these steps:
Step 1: Define Your Niche & Target Audience
Ask yourself some questions and find the right solution.
- What type of content will you offer?
- Who is your ideal viewer?
- What makes your app unique compared to existing platforms?
Step 2: Secure Content Licensing Deals
Negotiate with studios, production companies, or individual creators for content rights. Consider original content production if resources allow.
Step 3: Choose Your Monetization Model
Making money through your platform is the main goal of creating a video streaming app. So, it’s important to choose a monetization model wisely.
Step 4: Design Your App
Draw how your app will look and what buttons will do. Focus on the user interface (UI) and user experience (UX) for a seamless and intuitive experience.
Step 5: Hire a Company
Hire an experienced OTT app development company that knows how to make robust and scalable video streaming apps.
Step 6: Test and Launch Your App
Try your app on different devices to make sure it works well. Fix any problems you find. Put your app on the app stores so people can download and use it.
How Much Will It Cost To Develop An Ott Platform Like Netflix?
The cost to develop an OTT platform like Netflix is between $25,000 and $35,000 for a single platform. If you want the app to work on multiple devices (Android, iOS, Tablet), it might cost between $35,000 and $60,000.
If you want to add advanced features like personalized recommendations using artificial intelligence (AI) or machine learning (ML), the cost could go up to $100,000 or more.
This is just a rough estimation, the actual cost depends on a few things like app design, the complexity of features, development team & location, and platform scope (web, mobile, smart TVs). And, don’t forget about maintenance and support costs – they can add up too!
If you think the budget is too much, you can buy a readymade Netflix clone app available in the market and it would only cost you around $10,000 to $20,000.
How Can XongoLab Help You Build a Robust OTT App?
XongoLab can be a valuable partner for your OTT platform development journey. We have the expertise, experience, and technology to build a platform like Netflix, Amazon Prime, Hotstar, or Hulu that meets your specific needs and helps you achieve your business goals.
Contact us now and discuss your vision for Netflix-like OTT app development with us to know the development timeline and how much it will cost.
Wrapping Up
Mobile apps for the media and entertainment industry have taken the world by storm and an OTT app allows your streaming business to go beyond local boundaries. By leveraging the capabilities of an Over-The-Top application, your business gains the ability to connect with a diverse and international audience. This not only broadens your customer base but also opens up new opportunities for growth and revenue generation. So if you are looking to create your own OTT app hiring a reliable partner like us can open a plethora of opportunities.
Ankit Patel is a Director of Sales & Marketing at XongoLab Technologies LLP and PeppyOcean, A leading mobile app development companies. In his free time, He likes to write articles about technology, marketing, business, web, and mobile. His articles featured on YourStory, E27, Datafloq, JaxEnter, TechTarget, eLearningAdobe, DesignWebKit, InstantShift, Business Magazine, SimpleProgrammer, and many more.
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