The large customer base of Gen Z, Millennials, and GenX make video streaming websites the success they are today. Netflix alone draws millions of cinemagoers and tv viewers every day. The USA saw a 38% rise in the consumption of streaming services during the lockdown.
The value of the global live streaming market may reach $534.37 billion by 2030 compared to $372.07 billion in 2021.
Streamlabs’ Video streaming industry statistics indicates that viewers spent 9 billion hours in 2021 watching content on various streaming platforms. And a report from Nielson shows that viewers’ streaming time rose to 169.4 billion minutes in 2022 from 143.2 billion minutes in 2021.
Let’s understand a bit more about such a rapidly growing market.
- 1 What are Streaming Services?
- 2 Top Streaming Services in the USA
- 3 Pros of Starting a Streaming Service
- 4 Cons of Starting a Streaming Service
- 5 Must-have Features for Online Video Streaming Service
- 6 How to Make Video Streaming Websites a Success?
- 7 How to Create a Streaming Video Website?
- 8 How Much Does It Cost to Build a Streaming Platform?
- 9 The Final Note (Be Practical)
- 10 Frequently Asked Questions
What are Streaming Services?
A streaming service is a platform where you can watch thousands of video content like movies, tv shows, cartoons, comedy specials, and documentaries. And it all comes at the cost of a monthly or yearly subscription.
The user base of streaming platforms has increased during the pandemic due to the rising demand for content and entertainment.
You must know what makes the streaming services distinctive before you begin video streaming website development. The first thing you need to know is your video streaming service needs to have both a website and an app.
Increasing GenZ viewers require you to keep streaming content available on every platform they use to watch content. It helps you keep up with the competition and generate revenue.
How to create streaming video websites like Hulu and Netflix? What makes them successful? How do they manage to keep viewers interested? You must know the answer to all questions before the development begins.
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Top Streaming Services in the USA
Netflix is now one of the top streaming services of 2022 in the USA, UK, and Canada. It got 16 million new sign-ups during the lockdown, adding up to its already large user base. That is double the subscribers Netflix had in the year before.
Here are some Netflix perks that make it a global phenomenon:
- Uninterrupted Service
- High-quality Original Content
- Thousands of Movies & TV Shows
- Availability on Multiple Operating Systems like Android, Web, and iOS.
- User Reviews and Ratings
- 100% Ad-free Content
- 1 Month Free Trial
- Multiple Profiles Option
Disney+ is new to the streaming market and growing faster having gained more than 100 million subscribers already.
Disney-owned Hulu had 39.4 million paid users in 2021 and the number increased to 45.3 million in 2022.
Some other top streaming services in the USA:
4. Amazon Prime Video
5. HBO Max
10. Apple TV+
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Pros of Starting a Streaming Service
1. Global Customer Base
A Netflix-like online video streaming service has a global customer base. Every new subscriber will bring another subscriber to your streaming platform if you offer quality content.
2. Brand Establishment
A streaming service can easily become a brand like Netflix with the right planning, preparation, and execution.
3. Rapid Revenue Growth
Netflix’s revenue was $24.9 billion in 2020 and it reached $30 billion in 2021. You can expect such growth from a well-developed streaming service.
4. Unlimited Content to Offer
It is easy to find new and unique content to upload on your streaming website. And you make your own original content to keep it active.
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Cons of Starting a Streaming Service
1. Expensive Operation Costs
Operations costs of streaming websites may skyrocket once it is up and running.
2. Highly Competitive Market
A streaming service business is a highly competitive market to make it through and reach success.
3. Original Content Failure
Lack or failure of original content may decrease user interest in your platform.
4. Misuse of 1 Month Free Trial
The 1-month free trial attracts users who are only there for the free trial.
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Must-have Features for Online Video Streaming Service
Video streaming website features decide its success by making things convenient for the user. That’s why you have to know which features are popular with users of streaming services. And make yourself familiar with video streaming industry trends as well.
Here are some of the features that you should add during streaming service development:
Social Media User Registration
Users should be able to create an account on your video streaming website with an email ID and social media accounts.
A Netflix-like multiple profiles feature helps users share the account with friends and family.
A feature to search content by name or genre helps users find the content they want to watch with ease.
Chat, Comments, and Share
Users can chat with other users to discuss the content they all watch with this feature. And give positive feedback with comments or share the content with friends/family.
Set Video Resolution
Users can set a video resolution they prefer with this feature. And according to the different devices they use for watching content.
Multiple Payment Modes
Provide multiple payment modes like debit cards, credit cards, Stripe, Braintree, and Google pay for user subscription payments.
Your streaming service platform will get a large user base if it supports multiple local and international languages.
Ratings & Reviews
You can categorize the popular content on your streaming website with the help of the user rating and reviews feature.
Push notification helps alert the user about newly released movies and tv series.
Users should have this feature to manage website themes, video subtitles, audio tracks, play and pause, rewind, and volume up/down.
This feature will help you manage all content and users on the streaming service website. For example, you can ban a user who uses abusive language in the reviews or live chats.
Users find it convenient to download the content and watch it without any buffering errors when their internet connection is unreliable.
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How to Make Video Streaming Websites a Success?
You have to do a lot of planning before the “how to create streaming websites” part. Streaming services thrive when you outsource a team of professional developers to make it happen.
You will need to know every aspect of streaming services if you decide to make the website with an in-house team. Check the below-mentioned points to make things easy for yourself.
Content Distribution Network (CDN)
CDN is a network of proxy servers that provides faster content delivery to local and international users. It responds to people’s requests for video content and presents the nearest server with the video. Then the server streams the video to the user’s device from the source.
Content Distribution Network offers convenience to users with quick delivery and a better video streaming experience. It also improves the load time of the website and its content. Get a developer who understands CDN before you build a video streaming website.
You can also develop your own content distribution network if your video content is limited in amount. Then one server can contain a small video collection with ease. One server can provide faster delivery and load time for the website and all content.
You can improve your global reach and content project development with third-party CDNs.
Reliable Cloud Storage
The cloud storage that contains all your video content must be reliable and well-managed. It’s essential to provide a better video streaming experience for all users.
You should ensure high bandwidth to build a streaming website that represents convenience.
The audience can easily watch 1080p or 4k videos on your website this way.
Streaming Protocols & Security
Protect your online video streaming service with domain restrictions, geo-restrictions, token security, and SSL encryption.
Get professional development advice to pick the best streaming protocols like WebRTC, RTMP, and HLS.
Never stop improving the user experience on your streaming service website. It’s what makes your service stand out from the rest.
Features like Add to My Favorites, Download, List of Categorized Content, and Watch Later create a better user experience.
Influential Ad Strategy
A strong ad strategy will increase awareness, user base, and revenue. And it makes things easy for new customers to find a better streaming platform.
Personalization & Analytics
Analytical information on the watch history helps provide relevant content recommendations for the user.
Data collection and analysis help identify and improve features that confuse users.
Website Performance Optimization
You have to regularly optimize the website performance to deal with errors like internet speed or crashes.
A streaming service involves parties like admin, video copyright owners, moderators, and users/consumers.
You have to provide different access to all parties and keep them in the same loop.
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How to Create a Streaming Video Website?
Here are some helpful tips to help you create streaming websites that make an impression:
Choose a Streaming Service Theme
You have to decide whether your streaming website will be single-themed or multi-themed. What kind of movies or TV programs will your streaming website or mobile app have? How many genres will you provide?
Choosing a specific genre/theme for your streaming website like kids, cartoons, documentaries, or movies makes it stand out. But it also shortens your customer base globally.
It’s best to create a multi-themed streaming service like Netflix to ensure a large customer base.
Create a Subscription Model
Create an attractive subscription model for your streaming service. Provide monthly or annual subscriptions with discounts on yearly subscriptions. You can also follow Netflix’s 1-month free trial model.
What do you need for a proper monetization of your streaming website?
- Monthly & Yearly Subscriptions
- Free 1 Month Trial
- Automated Payments
- Multi-Currency Support for International Users
Create and Categorize Your Content
Plan all the content that will be on your streaming service website. You also have to plan the daily, weekly, and monthly content uploads.
Will you only upload original content or content from other sources too? How will you upload TV shows? Episode by episode or all-at-once like Netflix?
Make sure you plan the content upload and management strategy during the development stage of your video streaming website.
License The Content
Licensing your content is essential to avoid any legal problems of copyright.
You can rent the content(Movie/Tv Shows/Documentary/Comedy Specials) from authorized distributors. Or you can get documented legal consent of the copyright holder to all the content you want for your website.
Choose Streaming Service Platforms
A good streaming service is available on many operating systems like Windows, Android, iOS, Smart TV, and Mac OS.
How to make a video streaming website successful? You need two things more than anything else.
Professional Developers and Unique Web Design
You need a UI/UX web developer, project manager, web host, front-end web developer, backend developer, graphic designer, SEO specialist, and marketing team to make online video streaming websites.
Get professional developers who can design a user-friendly website and app for your service. Appealing design and ease of use help create a better user experience for your users.
You may take inspiration from the official website and app of Netflix for your service. Or you can design something unique for your website and make it stand out.
Finalize Technology Stacks
You will have to discuss and finalize the most suitable technology stacks for your streaming service.
Create MVP Streaming Website
The development cost of a Netflix-like streaming service grows with features. That’s why you should start slow at the beginning of website development.
You can begin with an MVP version of your website with the basic features and services. Minimum viable products have a reputation for making an impact on new consumers.
All your streaming service has to do in the beginning is provide easy access to all content and smooth streaming.
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How Much Does It Cost to Build a Streaming Platform?
The cost of streaming website development depends on the type and number of features you want. You can consider the development costs of popular streaming services. Here are some of them to help you understand how it works:
|MVP Streaming Service Cost||Multi-Feature Streaming Service Cost|
|Netflix, Hulu, and Disney+||Netflix, Hulu, and Disney+|
|$72,000 to $80,000||$134,300 to $ 138,000|
|1 web server and 2 mobile apps||1 web server and 2 mobile apps|
Content Licensing Cost
Netflix spent $13 billion on content licensing in 2018 and made back $16 billion in the same year.
You will need to start small and set a higher goal as your streaming platform grows.
The Final Note (Be Practical)
You have to study all video streaming industry statistics to understand the market and competition. It will also help you choose the best way to conduct video streaming website development.
The market you will enter is a highly competitive one. That is why success for your streaming website will require professionalism, dedication, and exceptional creativity.
Frequently Asked Questions
1. Choose a streaming service theme
2. Create a subscription model
3. Create, collect, and categorize your content
4. License the content
5. Create or hire a team of developers
5. Choose a unique design for the website
7. Select technology stacks
8. Use MVP for the first version of your website
Streaming services involve a process that divides a video and its audio into multiple sections. And the website reassembles these sections and plays them when the viewer starts watching.
Successful streaming websites like Netflix make money with quality content and competitive subscription packages. And others do it with the Ad revenue model by charging brands for posting their ad copies on the streaming platform.
1. Create, collect, and categorize your video content
2. License the content
3. Create a subscription model
4. Create or hire a team of developers
5. Choose a streaming service theme
6. Choose a unique design for the website and app
7. Select appropriate technology stacks
8. Use MVP for the first version of your website and app
But discuss this carefully with a professional developer to choose the ones best suitable for your streaming website.
Yes, you can. But a website with specific content will have a smaller customer base. Putting all types of content on a streaming website ensures success and a large customer base
You can talk to us about the development of streaming websites and apps. Our experts at Alloite will answer all your questions and help you with your streaming service. You can also visit our website’s homepage to learn more about our website and mobile app development company.