How Much Does It Cost To Develop An App Like Netflix?
How Much Does It Cost To Develop An App Like Netflix?
Live video streaming apps like Netflix, YouTube, and Amazon Prime Video are attracting online users with their services. They are allowing users to watch the latest movies, podcasts, web series, and live TV shows at any time with high-quality resolution.
Today, through this article, we would like to guide businesses who are in plans to develop Netflix-like the best video streaming apps for Android or iPhone. Herein, we have given the best information to help you in the entire mobile app development process.
We have also provided you an estimated price for Netflix-like the best video streaming apps in 2022.
What Is A Netflix App?
Netflix is a popular video streaming application that is available across 190 countries around the world. It is a top entertainment app in the world. This subscription-based streaming app is featured on Android and iOS app stores. Users of Netflix can broadcast and watch live TV shows and movies anytime from anywhere.
The app is available for Android, iOS, macOS, Windows, and also Mi TV-like smart devices.
Here are a few key statistics about Netflix:
- As of 18th April 2022, Netflix has captured a 4.5/5 star rating and over one billion installs on Google Play Store.
- On the other hand, the app has generated a 3.9/5 star rating from 24.8K ratings and has 21 million daily iPhone users.
- With an increase of nearly 24 million subscriptions, the total number of Netflix-like trending video streaming application users is reached 209 million in 2021.
- USA and Canada are the two most revenue generating countries for Netflix app. These markets have occupied a user share of approximately 35% of total subscriber share. Europe, the Middle East, Asia, and African regions are next leading markets for Netflix.
- Netflix is being downloaded on iOS and Android platforms approximately 16.4 million times per month.
- The COVID pandemic has extended the scope for Netflix-like Android video streaming apps. During the period 2019-2021, the app has added over 100 million new users.
- On the revenues front, with an increase of 24%, the Netflix music streaming mobile app generated approximately $25 billion in business in 2020. In the first two quarters of 2021, the app recorded $14.5 billion in revenues.
These statistics might clear all your queries about the cloning of the best video streaming app like Netflix. So, netflix-like mobile app development will have a bright scope in the future.
Which Countries Have High Demand For Online Video Streaming Services?
Since Netflix-like famous music and TV shows streaming mobile application comprises massive entertainment content libraries and offers various subscription plans as per user interests, it has gained popularity for its reliable services from the global audience.
The below figure depicts the leading demand markets for Netflix-like music streaming apps in 2021.
The above figure represents that the United States of America is the top leading market for Netflix downloads and usage, with a nearly 67 million subscriber base. Followed by Brazil with 18 million and the UK with 13 million have stood as the second and third largest revenue-generating markets for Netflix applications.
It is the right time to launch a Netflix-like trending music/video streaming app in 2022 to grab the market opportunities and commercialize the demand metrics.
If you are looking to hire the best mobile app development company USA, you are on the right platform now. USM Business Systems is one of the leading mobile app development companies USA. At USM, with a team of professional and expert mobile app developers, designers, and testers, we ensure to deliver a robust mobile application that improves the outcomes of your business.
If you would like to outsource your video streaming mobile app development project to a USM-like top custom app development agency in the USA, here are features that we add to make your application unique.
Here we go!
Must-Have Features and Functionalities In Online 7 Video Streaming Apps
Here are features that you must add while cloning popular streaming apps like Netflix.
- Simple User registration and login
- Social media Login access
- Search feature for browsing video content effortlessly.
- Multi-language support
- Integration of Encrypted payment APIs
- In-app e-wallet facility
- Zoom-in and Zoom-out functionality for better viewing experiences
- Favorite watch lists
- Offline video watching flexibility is an advanced feature that makes your app stand out from the crowd.
- Live video streaming flexibility.
- Easy and simple steps to purchase subscriptions
- Make sure that your media streaming apps should be compatible with multiple devices.
- Create and save favorite playlists feature for improving user personalization and experiences.
- In-app push notifications and SMS Alerts will help you in sending personalized video content recommendations to subscribers.
- Reviews and ratings feature help your brand to analyze the app performance.
- The in-app AI Chatbot feature will assist your users to get instant responses and also takes your brand name to new heights.
- Quick setting features help your users to edit their profile information or toggle their preferences.
These are a few significant features that you must consider while video streaming app development.
USM Business Systems, one of the best mobile software development companies USA, with a group of creative mobile application developers develops futuristic Netflix clone apps using the latest technologies, tools, and frameworks.
How Much Will It Cost For Netflix Clone App Development?
Estimating the cost of mobile apps is a bit challenging and the most complex task for businesses. But, being the largest AI app development firm in the USA, we help you estimate the app price easier using the below simple calculation.
Mobile app development costs = the number of app development hours of application developers * the hourly rate of mobile app development agencies that you hire.
It means that the cost of custom android apps or iPhone apps can be easily calculated using the above formula.
Being the largest mobile app developer in America, we estimate that the cost to develop a native video streaming app will be around $25,000-$35,000.
If you would like to develop a hybrid or cross-platform application with basic functionalities, the development costs would range from $35,000-$60,000+. Similarly, an advanced AI-powered video streaming app might range from $70,000-$100,000+.
However, the cost of Netflix clone app development is impacted based on various hidden factors. They include:
- Mobile app development type (native, cross-platform, or hybrid)
- Number of features added and their complexity level in the feature development process
- Mobile applications development platform type Android and iOS
- UI design complexity level
- Technologies and tools used for the application development process
- The region of mobile app developers
- App developer’s hiring model (in-house development or freelancing or project outsourcing)
These are hidden factors that influence the overall price of mobile app development. USM, one of the best custom mobile apps development companies USA, creates flawless, robust, and collaborative mobile apps, including video streaming apps.
Our application development team has deep knowledge of integrating next-generation mobile technologies such as Artificial Intelligence, Machine Learning, Natural Language Processing, Deep Learning, Blockchain, and Data Analytics to create out-of-the applications that meet your business vision.
Best Strategies For Monetizing Video Streaming Applications
App monetization is the best way to generate money from your applications. Businesses can earn money by implementing monetization strategies as follows:
- Charges on subscriptions plans
- In-app advertising
- Charge an extra amount for multiple views
- Online shopping apps promotion
Implementation of these app monetization strategies will help organizations add more profits over time.
Netflix clone app development is the right and profitable decision for businesses since the demand for online video streaming apps is increasing at a rapid pace. USM is here to develop creative and highly responsive online music streaming apps that meets your business objectives.
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