Market outlook and Important factors to consider during on-demand video streaming app development

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There has been a change in the tide when it comes to the entertainment sector. Earlier people preferred watching content on television and in theaters. Now with the options on-demand video streaming solution offers, it seems to be a more viable choice for customers. When you think about OTT apps, they offer a theatre-like experience at home. People can use the headphones and stream uninterrupted HD movies and TV shows with the comfort of sitting on their sofa. 

The relationship between supply and demand should always be in equilibrium, abiding by the formula video streaming solution offers fresh and brand new content to its customers. According to Streaming Observer, cable television is losing 14,000 subscribers every single day in the US. Many traditional television channels are entirely shifting to the online sector. Budding entrepreneurs can prosper by investing in the flourishing on-demand streaming apps.

Market overview of OTT apps 

As mentioned earlier, OTT apps have gained popularity and the number of subscribers is increasing with each passing year. In order to sustain in the entertainment industry, there is a compulsion to change as per technological trends and customers’ requirements. The top players in the streaming industry have achieved unparalleled success by including features as per changing market trends. Let’s look at the popular video streaming apps and their newly introduced features:

Netflix

Netflix initially started as a DVD rental store and as a video streaming app and in 2007, they started streaming services. As of 2019, Netflix has revenue of $2015.6 crores. As the coronavirus has led to the shutdown of theatres across the globe, there are many movie premieres occurring in on-demand streaming apps like Netflix, Amazon Prime Video. 

The latest addition to the Netflix app: It’s nearly impossible for the customers to catch up with the sheer number of TV shows and movies. As an aid customer to quickly watch the shows, Netflix introduced a new feature to control and modify the watch speed. Just like YouTube customers can increase their watch speed to 1.25x or 1.5x, etc., they can enjoy their favorite movies and pay attention to more details by slowing watch speed to .75x and .5x speeds.

Amazon Prime Video 

Amazon Prime Video has over 150 million subscribers as of 2019. It is the second most preferred video streaming app solution in the US. Apart from the endless list of top-rated shows and movies, Amazon Prime Video offers subscribers exclusive deals and free delivery on Amazon. 

Here are some new additions to Amazon prime video features

For a single account, different profiles can be set for as per users’ age. There are kids settings and adult settings available. As per the setting changes made, users can stream the content. X-ray features provide behind the scenes information, access IMDb profiles of actors, and so on. 

 Crucial steps involved in building on-demand video streaming apps 

The necessity of streaming content from anywhere in the world illustrates the requirements of a powerful streaming service to deliver content without any glitches. Here are some of the crucial steps to undertake to build the amazing on-demand video streaming app solution 

Reliable content delivery Network: CDN is the cached version of the original server positioned at different geographical locations to stream uninterrupted content. The content delivery network is a must-have solution to scale your streaming app’s functionality to suit your customer bandwidth requirements. When users shift to different video streaming resolutions, the transmission must be smooth. Also, the video must be streamed without any interruptions.

Efficient hosting server: As the on-demand video streaming app gets popular the number of users will increase so your app must be capable of handling the increase in the users. There are two important steps to be abided to achieve it: First is having efficient load balancing algorithms in place to handle the increase in customer traffic. Second, reliable cloud storage services, such as Amazon S3 and Google Azure. 

Eliminate buffering: Customers will not wait for a prolonged duration for the content to load. Best-in-quality video streaming functionality will provide the necessary facility to stream content without any buffering. MPEG-DASH, Microsoft Smooth Streaming, HTTP live streaming are some of the popular choices available.

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Impressive UI/UX design: Customers’ first impression of the product is based on its appearance. So it is essential to employ skilled UI/UX developers to offer consistent and amazing solutions.  

Test the product: The product must undergo varying levels of testing to ensure the product is as per customer expectations. The software glitches and bugs evaluated at the testing stage are resolved at the later levels. 

The bottom line

Video streaming solutions are one of the key players in the market. By deploying on-demand video streaming app solutions with exquisite features and rich libraries of movies & shows, entrepreneurs can capture the presence of customers within weeks of launch. Perform thorough analysis and go through the features offered by popular OTT apps before venturing into the app development process.

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