An app like Netflix
The Over-the-top media or OTT is a billion-dollar industry and is only projected to grow in the coming years. Binge-watching is a trend that has led viewers to cut the cord. While video streaming apps have increasingly become popular over the years, the novel pandemic has further pushed people to resort to watching movies and TV series while staying at home and physically distancing.
Founded by American entrepreneurs Reed Hastings and Marc Randolph, Netflix Inc., was established in 1997 as a video-rental company. In 2007, Netflix launched its streaming services and it is worth US$ 6.78 billion today. Without a doubt, Netflix continues to reign as the most popular streaming services. It does make you wonder how does a company that launched the concept of renting DVDs by mail become a streaming service giant.
The Netflix model depends on two factors — monetizing the business and embracing your audience. Carve a niche for your audience when imbibing functionality and features of Netflix and you may as well have a successful business yourself.
Step 1 Create an outline
What content you want to stream — entertainment related like HBO or NBC, fitness videos is another category that is really popular right now, or you simply want to start a How-to series with educational videos. The next step is to decide where you are going to source this content from — either create your own or use videos from other distributors. You can also choose to do both. Decide on your monetization model — PPV, advertising, or subscription.
Step 2 Figure out the technical aspects
Internet speed is of utmost importance since it affects the platform’s ability to stream the on-demand videos. Any standard definition video takes over 2 MB/second internet speed and this goes up with HD, 3D, or 4K broadcasting.
Consider cloud hosting platforms because:
· It allows quick access to video content
· It is cheaper than a hard drive
· It is flexible and scalable
Step 3 Technology Stack for Netflix-Like App
Here is a list of tools that can be used for app development:
Database: MySQL, MongoDB, Oracle, Cassandra
Cloud Hosting: Amazon web services
JS Libraries: React, WinJS;
BDaaS (Big Data as a Service): Amazon EMR;
Operating System: FreeBSD.
Step 4 MVP features of Netflix
To build an app like Netflix takes a lot of backend processing. You always need to be aware of technological advancements and ready for unpredictable obstacles. Such challenges can be met with the assistance of experienced app builders. The more features you want for the app, the costlier it will get.
Features you will need to add for a Netflix-like app:
1. Decide on a platform — iOS, Android, or both. Consider making an SVOD website
2. Design — The simpler the design, the easier you make for your audience to navigate through
3. Users Registration — Enabling registration through email and social media
4. Payment Gateway — Apple and Google offer special frameworks for using their APIs
5. Content Search — Search options by genre, reviews, age, language, etc
6. User Profile — Enable users to enlist their favorite moves and series
7. Push Notifications — Notifications informing viewers about new content
8. Settings — Basic settings like play/pause, rewind, subtitles on/off, volume control, audio track, etc.
Why invest in a streaming app like Netflix?
There are several ways to invest in new business and aim for the best revenue model. With using a tried and tested model of Netflix, it is the best way to initiate a concept and bespoke a path that becomes a revenue-generating model for you. Remember nobody wants another replica of Netflix; so think of features that are unique and can captivate your target audience.
If you have an idea that seems worth investing in but are not quite keen about the technical part of it; get in touch with us. Our team of experts can guide you and offer you a range of options.