How Much Does It Cost To Develop a Streaming Service Like Netflix, Disney+, Hangouts, or TikTok? [2024]
Nirav Upadhyay
6th Apr, 2020
Love to watch web series? Yesss! Then you must be a true fan of Stranger Things and House of Cards. Nowadays, video streaming services like Netflix and Amazon Prime Video are a major source of entertainment for people.
Video streaming services are one of the most profitable and sustainable businesses. Many entrepreneurs are looking to jump on the bandwagon by creating a winsome video streaming app like Netflix. If you are also searching terms like “app developers near me” to curate awe-stunning video streaming apps, then believe us, your mouse roaming in the right direction.
Being a leading mobile app development company, we have ample expertise in crafting successful video streaming apps like Netflix. In this particular article, we will discuss how much does it costs to build a streaming service, how to hire mobile app developers, leading video streaming apps worldwide and much more.
Before diving into the depth, let’s discuss some basics of video streaming app development. Let’s start the show…
What Are Video Streaming Services?
As the name implies, video streaming services are kind of entertainment services that offer video content with a web or digital platform. The video content includes exclusive web shows, web series, movies, and other video-based entertainment. Big brands like Amazon and Walt Disney are leveraging these market trends.
You Must Be Wondering?
Why are video streaming services so popular?
Gone are the days when people had limited choices in terms of video content. Television & Movies were the only thing for entertainment but now things are completely changed. Video streaming services like Netflix offer a better experience for users.
Phew! It’s all about curating the right content for the right people. As we all are concordant on the point that on-demand services have been a buzzword for a couple of years and video streaming is one of the core services in on-demand app development. Also, users are addicted to video streaming services because of the ease of entertainment and rich content.
Must-Have Features For Netflix like App
Video streaming apps are completely different from traditional T.V. in terms of the streaming experience, users’ perspective, and enriching app experiences. For a mobile app, essential features and user interface decides how much it is going to be appreciated by users. So, take a look at the important features of your dream video streaming app.
Dashboard
- Admin & User Panel
- Easy Social Media Login
- Fast Users Registration
Content Preference
- Smooth Content Search
- Personalize Content For Each User
- Content Recommendation As Per History
Content Privacy
- Screenshots Blocking
- Block Screen Recording
- Geo-Blocking Protection
User Engagement
- Attracting Push Notification
- Chat & Comment Features
- Review, Rating, & Feedback
Technical Features
- Content Management System (CMS)
- Out-&-Out Multiscreen Compatibility
- HD Transcoding & Lucid Channel
Subscription Plans
- Safe & Secure Payment Gateway
- Alluring Cart User Interface
- Allow All Payment Module
Things To Consider While Creating App Like Netflix
No matter if it’s a new business or app development, there are some important things that need to be considered. Creating your own video streaming app is not a piece of cake as it seems, all you have to do is proper market research and hire a suitable mobile app development company. Here, We are jotting down the most important things to know before building streaming services like Netflix.
Market Research
In terms of creating a Netflix clone app, you should research about Netflix market share. As per the Statista, “The most popular video streaming service as of September 2019 was YouTube, with 163.75 million monthly active users. Netflix ranked second with 46.55 million MAU, followed by Hulu with just under 26.5 million.” It is shocking that Netflix ranked top worldwide in just a couple of years.
According to Statista, “In 2019, Netflix’s streaming content obligations amounted to 19.49 billion U.S. dollars, up from 19.28 billion in the previous year. The 2019 figure was partially comprised of 4.4 billion included in current content liabilities and 3.3 billion U.S. dollars of non-current content liabilities.” As the above report indicates, Netflix has a rapid growth cycle that simply means the industry has lots of potential.
Acquainted With Technology
Let’s assume, if you don’t have any technical background or coding knowledge, then it would be very tough to develop mobile apps like Netflix. On the contrary, if you are acquainted with the latest technology, then it would be helpful from hiring app developers to make a winsome app like Netflix.
Do you know?
Netflix uses Java, MySQL, Gluster, Apache Tomcat, Hive, Chukwa, Cassandra and Hadoop for making alluring UI and smooth user experience.
For winsome app development, you should hire mobile app developers or a suitable mobile app development company like Auxano Global Services to make successful Netflix clone app development. Here are some essential techniques to build video streaming services.
App Development Language
- Java
- Kotlin
- Python
- Swift
- JavaScript
App Development Framework
- Flutter
- React Native
- js & Win.js
App Development Method
- Native App Development (Android, iOS)
- Cross-platform App Development
- Hybrid App Development
Database & Cloud Services
- MySQL
- Oracle
- Atlas-DB
- Amazon-S3
DevOps
- GitHub & Gradle
- Hub Commander (Netflix OSS)
- Sumo Logic & CloudTrail
Competitor Strategy & Targeted Audience
The targeted audience and competitor strategy is one of the most important factors for one who wishes to build an app like Netflix. People are already glued with big brands i.e. Netflix, Amazon Prime Video, and Hulu, so it is tough to engage users towards new video streaming services. Target Audience and Competitor Strategy are the factors to sustain in the competition.
Target Audience:
Most video streaming services have the same audience. As per the reports, the age group between 18-55 years is most likely to use streaming services. On the contrary, the business class people have more chances to pay and watch these services. Video content in regional languages is still less compared to English. So, while you are planning to build your own video streaming services, always consider your own targeting audiences with regional languages.
Competitors Strategy:
You should be aware of the competitions, to make headway. In case you’re planning to build video streaming services like Netflix, do proper research on Netflix app reviews, users’ feedback, and their problems.
The only way to beat the competition is to jot down the problems their users are facing and try to give solutions in terms of app features. If you stumble to find out issues, then try to read negative reviews and feedback about the Netflix app.
Monetizing Model
The best part of any mobile app is its revenue model. Let’s assume, if a mobile app is an instant hit on the app store but unable to make good ROI, then everything is worthless. So it’s better to curate and monetize plans before creating it. The art of enriching customer experiences with making profits is somewhat every entrepreneur striving for.
Revenue Model For Any Mobile App:
- Paid Application
- Freemium App (Free + Premium features)
- In-App Purchases
- Advertisement (Text, Video, Carousel)
- Sponsored Content & Ads
Monetize Model For App Like Netflix:
- Various Subscription Plans
- Exclusive Paid Content
- Sponsored Content
- Advertisement (Text, Video, Carousel)
- No Ads Live Streaming Plans
Hire Mobile App Developers
You can easily find app developers by searching for terms like “app developers near me”. It’s very important to hire mobile app developers for crafting successful mobile apps. There are several ways to hire app developers i.e. freelancers or hire resources from a mobile app development company. Hiring freelancers seems easy and cost-saving, but this strategy is not suitable for building an app like Netflix.
It requires ample expertise and experience to create video streaming apps, thus, we recommended to hire mobile app developers from a reputed mobile app development company like Auxano Global Services. Our dedicated app developers are inquisitive as well as experienced for creating astounding feature-rich apps.
How Much Does it Cost to Build Streaming Services Like Netflix?
Phew! The most possible question from your side. First of all, we have to conclude that without having actual requirements, app development cost estimation is quite tough. If you’re also searching for overall cost estimation for building services like Netflix, we recommend contacting us with your app requirements to calculate an exact app development cost.
Here Are Brief Cost Estimation For App Like Netflix-
In case you want to cut down overall app development cost, then there are few hacks. First of all, jot down your business needs and app requirements. After curating a list of features, prioritize your app features to build as a primary development cycle. Also, you can use cross-platform app development instead of native app development to save cost and overall development time.
Still, Have Any Doubts?
Discuss your requirements with our experts. We are a renowned mobile app development company with a vast portfolio in the same domain. Our passionate mobile app developers have ample expertise in decoding complex ideas into winsome applications.
Conclusion
While wrapping up this article, one thing is pretty clear that building video streaming services is profitable. We discussed the must-have features for creating an app like Netflix, monetize plans, market research and overall app development cost to build streaming apps like Netflix. In concise, precasting plans and a perfect app development partner is essential for crafting a feature-rich video streaming app.
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Frequently Asked Questions
How Much Does It Cost To Develop a Netflix like App in 2023?
How Much Does it Cost to Hire Netflix App Developers in 2023?
Why Choose Auxano Global Services for Your Netflix like App Development?
Which is the Best Video Streaming App Development Company?
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About The Author
Nirav Upadhyay
Nirav Upadhyay is a Digital marketing Head at Auxano Global Services, a renowned Digital Marketing Company. He started his career as an SEO Analyst in 2006 and has been in the field ever since. He excels at Search Engine Optimization, SMM, SEM and Product Marketing. Alongside his work as a Digital Marketing Head, Nirav also contributes to publications such as Entrepreneur, Bloomberg Businessweek, CIO, Huffington Post, The Drum and TNW.