Online broadcasting offered businesses new opportunities – a wide loyal audience, interactive formats, and unusual genres. The essence of streaming, or in other words, online broadcasting, will be clear to anyone who has ever clicked the remote control on live TV channels.
Today, bloggers (streamers) improvise by giving their opinions, commenting on other people’s shows, playing computer games, or just chatting with subscribers. Audiences are attracted to the accessibility of the blogger.
And so are businesses – in 2022, companies’ spending on advertising during online broadcasts increased 57 per cent, and total investment in advertising during streaming reached $15.2 billion. In this article, we’ll look at what video streaming apps are, how to build a video streaming app, and how much it will cost.
What is a video streaming app?
Video streaming apps are streaming platforms that provide live streaming. Their main distinguishing feature from television, which is also live streaming, is the ability to go live to any Internet user with a computer or smartphone and a video streaming app installed.
Today, video streaming apps can be divided into two categories:
- Smart TV apps for movies and TV series, which provide the opportunity to watch works of the film industry for a set price on a subscription basis (online movie theaters): “Netflix, Disney+, HBO+, Amazon Prime, AmediaTeka, IVI, Okko;
- Video streaming apps that allow any registered user to broadcast live on various topics. This type of video streaming app is suitable for businesses, which can conduct online meetings and other types of meetings this way.
How to develop a video streaming app?
Everyone who orders the development of a video streaming app has the same in mind: what stages the process involves, how the program is designed, how much time it takes to write code, and what will be needed to upload to app stores. Let’s consider the main stages that make up the video streaming app development process, these include:
The main purpose of this live streaming app development step is to figure out the list of goals and tasks that the solution will perform. This is followed by an analysis of the market and competing products, and potential audience behavior.
UI/UX designers are responsible for how user-friendly and aesthetically pleasing the application will be. UI (or User Interface) defines the look and feel, while UX (aka User Experience) is how user-friendly the interface is, and how convenient and obvious the controls are on the screen.
This term refers to the process of creating application code.
After creation, the video streaming app must be tested for bugs and performance.
Software platforms are constantly evolving, which requires constant attention to the application so that it remains stable and workable with each update. In addition, the post-release development of the video streaming app should be also kept in mind in order to take into account new user requirements and possible fixes and bug fixes.
All of these video streaming app development stages are to be passed, regardless of the complexity of the future product. The complexity mainly affects the time spent on video streaming app development, testing, and cost.
How much does a video streaming app cost?
The cost of the video streaming app is calculated individually depending on the business tasks and technical features of the product. Video streaming app cost is made up of the time spent by the specialists who will work on the project. These are the manager, analysts, designers, developers, and testers.
The client buys the production staff of the company who will create a video streaming app. Depending on the level and experience of its employees, the company forms the rate per hour.
Whereas a moderate to advanced level video streaming app fully loaded with modern features and driven by high-quality standards will take 9+ months for development and cost between USD 25,000 to 35,000.
The cost of the video streaming app can be significantly reduced by ordering development in the regions, where the rate per hour is lower due to lower wages. You can sometimes cut the cost of a video streaming app by nearly half in this way.
Overall, experts predict that video streaming apps will continue to gain popularity. Experts believe that the video streaming apps segment will continue to grow by an average of nine percent annually until 2025. In the long term, video streaming apps will become the new media that will generate the main traffic.
Video streaming platforms have offered brands a range of formats – live-streaming integration, banner ads on the platform, chatbots with native engagement; inviting brand ambassadors streamers, and more. It’s a good time to join this party and create your own video streaming app. Just contact us and the experts at Perfsol will take care of all further coordination of the video streaming app development project.