Someone who began their presence in California in 1997 as a DVD rental provider, is now rocking the global entertainment industry with its impeccable success. Yes, it’s none other than Netflix, the pioneer of on-demand video streaming services. Real-time entertainment has been sparkling in recent years. The pandemic was the game-changer that has been paving the way for video streaming apps to shine out in the market.
People are more comfy with video streaming apps than sitting before their televisions. The restrictions on theatres were foolproof that led people to rely on these online platforms for entertainment. With the scenario being convincing for budding entrepreneurs, this is the right time to start your own streaming platform. Continue reading this blog to know more about developing a Netflix clone App.
A Sneak peek into the story of Netflix
The major reason for the success of Netflix is that it just started thinking out of the box. Whereas in early times, it was featuring series and tele content on its platform. But then it felt the need to stand unique in the market.
That is when it ventured into production of original content. It telecasted exciting films and thrillers on the platform and attracted a huge fan base. In 2013, it aired its first original content. Followed by the success of their first home production “House of Cards”, they went on to produce more such original shows. This made the users visit their platform regularly. Moreover, film enthusiasts became addicted to their original content which they cannot watch from any other platforms. This bought them a bunch of subscribers to their brand.
Why not listen to some exciting numbers related to Netflix?
Numbers are always exciting and they allure our interests. Let’s see what the numbers flaunt about Netflix’s performance in the market.
- In 1998, Netflix made its entry into the entertainment industry through its DVD rental business.
- Netflix debuted in the video streaming market in 2007.
- According to reports, 23.47 percent of the users of Netflix binge-watch the content at work. When it comes to subscribers, the Asia Pacific region has the largest number of PAYING subscribers.
- 58 percent of the US residents have stated that they mainly subscribe to the platform for watching the original content.
- The report states that nearly six billion hours were spent watching Netflix in a day in 2020.
- Netflix’s revenue during the Q1 of 2021 accounts to approximately $7.16 billion.
Where can I get my Netflix clone app developed?
The process of developing an app from scratch is quite complex and time-consuming. The Netflix clone app is an exact replicated version of the popular Over-The-Top (OTT) platform. The ready-made version of the Netflix clone is available with pre-built features. With this white-label solution, you can make a huge impact in the global entertainment sector.
You can customize the app with your own choice of preferences and rebrand them completely. However, by opting for a pre-built app, you can save a lot of time and money involved in developing from scratch. The best way to acquire a ready-made app is by approaching a specialized enterprise.
The alluring business model of Netflix that is inspiring budding entrepreneurs
The way Netflix started off its business is quite different from others. Let’s go back to August 1997, when it initiated its video streaming services. It created an online portal where the users or subscribers can create their accounts to rent movies on DVDs. The movies will be distributed to the users through posts. Netflix operated with the help of the US Postal Service and other repositories to deliver the film cassettes/ CDs to the users.
When things change, the best way to go with the trend is by adopting them. It changed its business model to expand its services. In 2007, it made its online debut with an on-demand video streaming platform. As a shift from the DVDs, it also started focusing on showcasing video content on online platforms. Netflix followed a subscription-based video-on-demand(SVOD) service, where people can opt for plans.
The entertainment packages range from basic, standard, and premium. Through these plans, the users can get access to watch any type of TV content and movies. Apart from this, it further works on business segments. They are,
- International streaming that focuses on providing streaming services outside the US. Users from more than 190 countries and earns its revenue through monthly subscription plans.
- Domestic streaming where the revenue is generated from the subscription fees paid by the subscribers within the USA.
- Domestic DVD model accounting to generate revenue from monthly memberships fees paid for renting DVDs through mails.
Why should you Develop a Netflix clone app
The entertainment industry is known for increasing the adrenaline of users. I am sure that no individual will neglect this. As 21st century netizens, we are also ready to spend money for entertainment and it can be for anything. With theatres being subjected to social distancing norms, video streaming apps like Netflix are a good alternative source of entertainment.
The sudden surge for the demand of video streaming apps arises after enhancement in Internet connectivity and a rise in smartphone usage. In addition, the Covid-19 pandemic also paved the way for the growth of this booming industry.
The on-demand video streaming sector is witnessing an impeccable growth in recent years. However, success does not happen overnight. But the foundation it has laid right now in the market will be forever. So, you can boost up your digital entertainment venture and outshine your rivals with a robust Netflix clone app.