Gone are the days when television was the primary source of entertainment; time changed and technology evolved, live video streaming apps came into the market and disrupted the entire industry. Video streaming apps such as Netflix, Amazon Prime, Twitch, and a few more provide ad-free viewing experience to its users all across the world.
These video streaming service providers offer a paid-subscription (users can subscribe to a free trial version active for 30 days) with different plans to meet every user’s streaming requirements. Despite being paid, these streaming apps are leaving the free streaming services behind.
- According to a report, more than 155 million people were using Netflix’s paid services by the end of 2019.
- The OTT streaming services app generates 40% of global internet traffic
- According to Statista, the revenue generated by the OTT media is projected to be 158.84 billion dollars by 2024.
- As per a Statista report, there are more than 180 million OTT users (USA alone) using Netflix, Amazon Prime, and Hulu.
- A Statista report unveiled that the OTT consumers in the USA spend almost 19 hours in a week on these platforms.
Don’t get amazed by these surprising figures as you can now make your own live streaming app. Providing live android video streaming services through a mobile application is indeed a billion-dollar business with a bright future and growing demand. And if you are thinking of developing such an android and ios application, then the first thing you must be thinking about is the cost of its development.
Popular Live Video Streaming and OTT Apps
Live Video Streaming Apps
- Facebook live
- Broadcast me
- Twitch TV
- Amazon Prime
- HBO Now
- Sling TV
Live Video Streaming Applications Trends 2020
- More consumers switching from cable connections to OTT apps
- The rise of VR (Virtual Reality) and AR (Augmented Reality)
- Focus on 360-degree video streaming
- Use of AI (Artificial Intelligence) and ML (Machine Learning) for the personalized live video experience
- The use of immersive streaming technology
- 8K will enter the industry
Basic Features of a Live Video Streaming App
Now when you are all geared up to find a reliable company for your live video streaming app development, it is good to have a clue about the basic features this should have:
- User registration and profile creation
- Content search
- Reviews and ratings
- Secure payment gateway
- Multiple devices’ streaming option
- Multiple language support
- Offline download feature
- Video quality
- Hosting other streamers
- Push notification
Which industries need live video streaming applications?
Considering the popularity of Periscope, Livestream, Netflix, and other apps, it is clear that live video streaming apps have created worldwide disruption. Live video streaming apps are highly demanded in the following industries-
To conduct online medical conferences, webinars, and other sessions from remote locations. Live video streaming applications can also help in training the interns by showing them live surgeries and other procedures. Healthcare and medical facilities can also use such apps to make important announcements, change in policies, and even remote patient monitoring in their various branches. This would remove the need for in-person visits, at least for the ones who want general consultations.
Live video streaming apps in the education industry have always been in demand. The onset of coronavirus has added fuel to the fire. With such applications, universities, schools, and other educational institutes can conduct online conferences, workshops, webinars, quizzes, and exams. The apps can also facilitate live broadcast events and real-time communication between the students. Besides, live streaming apps can also be a perfect medium for staff training.
Social media sector has grown by leaps and bounds over the past few years. The use of live video streaming applications in this segment has gained rapid momentum. Brands all around the world are focusing on creating unique and engaging content and showcasing them to their targeted audience in real-time. With live video streaming applications, brands can reach out to their audience and increase their network.
Cost of Video Streaming App Development
An approximate live video streaming app development cost starts from $20k to $35k. However, the exact cost of a live streaming app or a video streaming app is not possible as it depends on various factors:
Features of the app
The basic features that a live streaming application should have already been mentioned above. But, you may add or remove other features depending on your particular requirements. With the addition or removal of these features, the cost will vary.
Design of the app
The design of the application plays an important role in its success. An appealing and impressive video streaming app with a simple UI has a higher possibility of getting more number of customers than the one with the unappealing design. To design the app beautifully, you might need to hire more experienced designers with expertise in the latest designing platforms.
Tech stack needed for the development of the app
- Database and Cloud Services– Mongo DB, Oracle, Amazon S3, Amazon EC2, or any other
- Libraries and Frameworks- Win.JS, Node.JS, React, or any other
- DevOps Tools- Jenkins, Apache Mesos, Github, Sumo logic, or any other
Location of the mobile app development company
If you hire an in-house mobile app developer or the team permanently, then the cost will include training and recruitment costs. However, if you choose the app development services from a company, then the location of the company matters a lot.
How to Earn Through a Live Streaming Application?
There are many ways to earn money through a live streaming app; but, the major two are:
- Define models or subscription plans that users can buy to watch videos or view content on your android and ios app. To attract more customers, you can offer a free trial version with limited validity.
- Advertisements are a great way of earning money through your live streaming application.
Team Required to Build a Live Video Streaming App
To develop a live video streaming app, you need a full-fledged team comprising of:
- UI/UX designers
- Android or iOS developers (depending on your app’s specific requirements)
- Project managers
- App testing engineers
- Support providers
Why Choose Quytech to Develop a Live Video Streaming App?
Quytech is a well-known name in the field of mobile app development. The company develops scalable and next-generation applications that help your business to reach its targeted audience and grow in the market. Here are some of the other reasons why we are preferred for developing an OTT or live video streaming app:
Experienced and qualified developers
The team of developers working at Quytech is highly-qualified with expertise on all the latest tools and technologies required for developing a high-performing application that meets our client’s specific app requirements.
Systematic work approach
To ensure that every app is developed without any flaw, our team of developers follows a systematic work approach. Apart from that, we also conduct testing after completing every phase in the development.
We understand the fact that the design of the app is the first thing a user comes across. Therefore, we create innovative and attractive designs that depict your business idea clearly to your potential customers.
We have a proven record of developing and deploying every project within the committed time frame.
As there are many factors that contribute to the total cost of android & ios video streaming app development, it is good to note down your requirements prior to contacting a mobile app development company. And if you are naïve and don’t have any clue about the mobile app development process, then contact a reliable video streaming app development company, such as Quytech. For more details, you can share your app idea or requirements to the company and one of its professionals will provide you an approximate idea of the cost as well as a time of development.