Video Streaming App Development | How Much Does It Cost To Develop a Live Streaming App
If we think for a minute, video streaming app development is a profitable business.?
Since video streaming is closely connected with the gaming and entertainment sector, the user base is monumental, which is true, a potential market to target and earn millions of dollars.?
You can get started with the flow by considering developing a user-centric video streaming app for mobile and desktop users.?
But your major focus should be on mobile platforms as more than half of the world's population is using smartphones.?
Take this blog as a guide, because I’ll be briefing you (interested readers) on how to build a live streaming app including live streaming features, cost, and other important factors in mind.?
Let’s get started…!
What is Video Live Streaming Market Size and Growth?
It was incredible reading the statistics on the video streaming market.?
The video streaming segment has rising popularity among people, especially children and youngsters.?
Talking about the market size, the video streaming market is expected to reach US$80.83bn in 2022, worldwide.?
The market size of video streaming is growing at a CAGR of 11.4% resulting in projected revenue of US$139.20bn by 2027.
And you will be surprised to know that most projected revenue generated from the US region amounts to?US$34,100.00m in 2022.?
Making it hanging on the top position compared globally. The other top four competitive regions are China (with US$18,360), the United Kingdom (with US$3,237 ), Germany (with US$2,863), and Japan (with 2,558).?
Should You Invest In Online Video Streaming??
Well, the market is growing readily and extremely - fast.
Since the pandemic, more and more people have increased the use of smartphones and heavenly streaming content online.?
The?surge still continues and is growing swiftly.?
Look at this statistic…
The enumeration shows the growing numbers of users worldwide in the online video streaming segment. In 2022, the total number of users will reach 1,160 million and in 2023 there will be 1,296 users.?
This means the market is shriveled with a host of opportunities. Hence, if you’re thinking of developing a video streaming app for your business, it is a good time to get in the race of conquerors.?
Types of Video Streaming Apps?
The distribution of visual content using advanced technology is generally categorized in three different types.
Live Video Streaming Apps
Live video streaming apps are the most used app in this segment. Typically, these apps allow users to broadcast visual and audio content simultaneously to others who have access to the stream. Additionally, these apps have risen the trend of internet influencers and celebrities, including gamers.?
Examples include popular live streaming applications; Twitch, YouTube Live, Livestream, and Periscope.
On-Demand Video Streaming Apps
On-Demand Video in short VOD is arguably the most popular type of video streaming that people have witnessed so far. It uses advanced technology to distribute content to VOD platforms. These apps allow users to watch content as per their choice whenever they want. They can even schedule and add them to their favorite list. Additionally, these apps do charge users in exchange for content distribution.?
YouTube TV, Netflix, Amazon Prime Video, and Hulu belong to this category.?
Video Streaming Apps from TV Providers
These kinds of apps are not VOD, instead, use OTT technology to distribute cable package content digitally. These apps are dedicated to authoritative segments and content is partially distributed from their network and server-side. Additionally, they do charge subscribers to stream content online.?
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Common examples of this are HBO NOW, Starz Streaming, and Showtime streaming.?
Top 5 Most Used Video Streaming Apps In The Global Market
1. YouTube?
MAUs:?2.2 billion
Total Users:?2.6 billion
Platform:?iOS, Android, and Desktop
Ironically, YouTube is observed as a popular social network application. Its live stream feature makes it catastrophic in the video streaming segment. Currently, Youtube holds the most number of users in the context of online video streaming. More than One-fourth of the world's population use YouTube every month equaling 2.2 billion users.
2. Netflix?
MAUs:?209.18 million
Total Users:?220.67 million
Platform:?iOS, Android, and Desktop
Netflix is the world's second most used video streaming application that provides oceans of award-winning TV shows, movies, anime, and documentaries to users on-demand. To stream content online, users first need to activate monthly or yearly subscriptions as per their needs from pricing plans.?
3. Amazon Prime Video?
MAUs:?175+ million
Total Users:?200+ million
Platform:?iOS, Android, and Desktop
Alternate to Netflix, Amazon Prime Video is another popular online video streaming app offered by Amazon.com Inc. that provides personalized on-demand content to users to stream and download their favorite movies, TV shows, web series, documentaries, and much more.?Additionally, it puts prime content right alongside popular TV channels HBO, Showtime, and other streaming service giants.?
4. Twitch??
MAUs:?140 million
Total Users:?NA
Platform:?iOS, Android, and Desktop
Twitch is a dedicated streaming platform for gamers and streamers. Twitch is so popular because it streams live, broadcasts several esports competitions, educates other players, and it's interactive. Since the gamers community has increased on Twitch,?video streaming app development company ?are helping clients by developing live stream apps like Twitch.?
5. Disney+?
MAUs:?NA
Total Users:?137.7 million
Platform:?iOS, Android, and Desktop
Walt Disney owned Disney plus media streaming service holding an edge over other streamers. It is significantly known as a low-cost video streaming app as it provides an affordable package to stream content on its glossary. Based on a recent study, Disney+ had 137.7 million subscribers worldwide as of its second quarter of 2022.
This article is originally published in?Xtreem Soluiton .