What pops up in your mind instantly when you hear the word “on-demand video streaming industry?” If you are a user of one such service, you will think about the entertainment it offers. But, if you are a completely business-minded person, you will probably arrive at the quality of service and high revenue. The on-demand media streaming apps came to the market almost two decades back and have been thriving ever since. Netflix is one such giant in the video streaming market. It has three main competitors at present:
- Amazon Prime
- Disney+ Hotstar
- Hulu
These video streaming services are also being used widely by people across the globe. Moving on to Netflix, it has around 67 million subscribers around the world. It would be apt to state the fact that the Netflix brand has been revolutionizing the media streaming market for more than a decade now. Inspired by a brand that is such a huge success, many entrepreneurs will be interested in launching a similar OTT platform for their business. Businesspersons with this idea can set up their entertainment platform with a Netflix clone app solution.
A few facts that you do not know about Netflix:
Below-mentioned is a list of facts that very few people know about Netflix. These certitudes will motivate multiple business persons to launch their own video streaming brand in the market.
- Though there are many competitors in the video streaming market, Netflix proves to be one with the highest number of subscribers in the year 2020. (167 million)
- More than 60 million adults in the US have a paid Netflix subscription.
- More than 41% of users are watching shows without subscribing by sharing accounts. .
- It is technologically advanced than any of its competitors in the video streaming market.
- It is one of the first streaming services to be available on any device you can name. (iPhone, Tablets, Smartphones, PS3, etc.)
- Netflix is the first international streaming service provider.
- Netflix has won more Emmy nominations than HBO in the past years.
- The COVID-19 pandemic has subsequently increased the number of Netflix subscribers.
- More than 40% of Netflix users are from the US and Canada.
- The net worth of Netflix is around $162 billion as of April 200.
All these facts and statistics stand evident to the certitude that launching an app like Netflix and providing instant, and uninterrupted video streaming services will help you become a hit in the market and generate high revenue.
Why do users lean towards video streaming platforms?
People are dependent on these streaming services to a greater extent at present. The traditional method of paying for a cable TV subscription and fighting over what to watch has now ended. So, this is probably the apt time to launch your online streaming service with a Netflix clone script. A few key elements as to why people opt for media streaming apps are listed below:
Quick access:
People are always open to all genres of entertainment. They have open minds to try out any good TV show or movie at any time. With an online app, they can get instant access to such shows or movies. You can include a variety of shows to keep your users tuned to your app. Also, the user’s need for a new movie or series will be fulfilled by these streaming platforms.
Reduced expenses:
Subscription fees to apps like Netflix are less when compared to spending on a cable connection at home. This reduced spending is also one of the crucial reasons due to which users prefer subscribing to an OTT platform.
Customized packages:
Every streaming service offers personalized packages at fixed fees. Users love the idea of choosing a membership package that suits their needs. For instance, a user who needs a subscription that can allow streaming in upto two devices should not have to be stuck with a package that lets more than two users to stream and pay high charges.
Preference-based suggestions:
If users have a particular show in mind, they can find it using the search option and stream without any interference. On the contrary, if they need suggestions, these video streaming apps have algorithms that will display a list of suggestions or show recommendations based on their preferences or previously watched shows or movies.
Account sharing facility:
The OTT platforms allow users to stream different content on multiple devices with a subscription to just one package. The total number of devices that will be allowed to stream video content will differ from package to package. On a successful subscription, users can log in from different devices and stream any show or movie without any interruptions. You can also include this attribute to your complete clone script for Netflix available at nominal prices.
Ad-free services:
Advertisements right in the middle of an interesting show or movie will sometimes spoil the users’ streaming experience. This is a major drawback of a traditional cable TV connection. But, the OTT platforms oversaw this issue and came up with an amazing solution. Users who have a paid subscription do not have to wait for advertisements to get over. They can enjoy ad-free streaming services at any time of the day.
Watch online feature:
This facility offers users the convenience of streaming their favorite shows or movies in the offline mode. Users can download any video they want, and it will be available in the Downloads section. On successful download, users can access the content even without the Internet. Offline viewing is one of the vital benefits due to which users opt for online streaming services.
Begin your journey in the video streaming industry:The first step towards launching a media streaming service app is to have a set of clear and precise requirements and to hire a flexible Netflix clone app development company. A user and the business owner-beneficial streaming app will be a huge success in the market. So, get started with your development process right away and yield a high profit in the video streaming industry.
