Video Streaming Apps: A Lucrative Investment in Today’s On-demand Era!
· 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.
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:
1. Creation of a paid application with monthly, quarterly, or yearly subscription plans.
2. Freemium business model in which the end-users must be provided with some basic features for free and charged for other advanced features.
3. Through advertisements. This approach usually works better for reputed apps.
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.
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 a reliable 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 firstname.lastname@example.org