Sep 24, 2021
The entertainment industry is vast as it seems to be a perfect sector to enter into for entrepreneurs. There is a wide opportunity for them to establish themselves as a successful individual upon launching an OTT platform. Undoubtedly, this sector witnessed massive success during the Covid-19 crisis. This eventually increased the demand for video streaming services apps in the market.
Growth and popularity of Netflix: Will it launching an app like Netflix be a wise choice?
There are several video streaming service apps prevalent in the market. However, Netflix is one of the well-known app worldwide, widely used by millions of people. Here are the foolproof stats and facts of Netflix that will inspire you to launch an OTT platform similar to that.
Netflix is an American-based streaming service company, established in 1997. This platform offers online streaming of series, movies, shows, and many more.
As of the first half of 2021, the app has gained 209 million subscribers. The majority of users are from the United States and Canada, which includes 72 million.
It is in operation in almost all regions across the globe except China, Crimea, North Korea, and Syria.
In 2020, its revenue was approximately $24.99 billion. Notably, most people spend 3.2 hours a day on average.
In the first month of 2021, it was recorded that its Android & iOS apps were downloaded 19 million times.
In addition to these, the global OTT media market’s net value will reach $210 billion by 2026. So, it will be wise to opt for a Netflix Clone app development now.
Take a peek at some of the revenue models of the Netflix Clone app!
If you are sure to launch a Netflix Clone app, you have to decide which revenue-generating strategies to implement. Some standard ways to generate income from OTT platforms are listed below.
Subscription - It is the constant way to generate revenue from OTT platforms. You can permit the users to stream video content, including shows and movies, upon availing of a subscription plan. Charge them a subscription fee monthly or yearly.
Advertising - This revenue stream will be a great fit for your business model when your app has a greater reach. Entitle advertisers to post ads on your platform. Incur charges from the advertisers based on the ad views/clicks.
Pay-per-view - Some users might want to watch videos for one time without opting for a subscription plan. For them, pay-per-view will be a beneficial one as they have to pay for particular video content.
Hopefully, you will realize that launching an on-demand video streaming app like Netflix is a top-notch business idea. Do you have a plan to launch your app instantly? Opt for a Netflix Clone Script, a readily available solution. This will enable you to enter the booming sector and start a prosperous business right away.
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