Though the Covid 19 pandemic was the hardest thing to forget, it gave few industries a high reach. It was a golden period for the on-demand market to come out in flying colors. Online delivery businesses were blooming during this period, where people were not able to come out of their dens. On the same page, on-demand video streaming apps also became popular among the folks.
When theatres and sports activities were halted, smartphones and televisions were the only best-known things to kill time. It was during this situation, on-demand Netflix clone app became the apple of an eye. 4 out of 10 people had any of these OTT apps on their mobile phones. It is expected that the video streaming market will grow at a CAGR of 21 percent from 2021 to 2028.
The golden ticket to becoming a billionaire is right in front of you in the form of on-demand video streaming services. You can swiftly enter the market with a robust on-demand video streaming app.
How did the pandemic create a bed of roses for the video streaming apps to shine out?
The last decade witnessed the arrival of OTT platforms which were considered as a mere niche component. More than theatrical presence and television broadcasting, film producers thought of launching online streaming services. This gave birth to the concept of watching movies and videos through online platforms.
An On-Demand Netflix clone apps started growing up during this phase. They featured attractive content to captivate the audience, because of which people became addicted to these apps. Later on, along with the growth of smartphones, these apps also grew up well. For example, Netflix went ahead and featured its original content, which became a huge hit. There is a separate subscriber base for Netflix Originals.
Until the pandemic, these OTT platforms were merely a niche segment. The subscribers and users were limited, and not everyone showed interest in them. However, pandemic rephrases this ideology. Now, at this current state, almost all of us are exposed to video streaming apps.
With no other options to chill out, these apps became their best partner to kill their time. Moreover, people were perfectly okay spending their money on paying subscription fees to these apps. This eventually led the OTT apps to earn quite a lot of money.
The best part of these apps is that they started releasing movies. The shutdown of theatres literally forced distributors and producers to release their movies directly on OTT platforms. In simple words, the OTT platform owners were the ones who earned more revenue during the lockdown.
What is the enticing scope for launching an OTT platform?
While discussing the popularity of these OTT platforms, as readers, you might wonder whether it is a short-term reputation? Even though the pandemic wave comes to an end, these apps will never lose their trademark.
In this era of mobile phones, all of us have become tech-savvies. We averagely spend most of our time on mobile devices. Honestly, how many of us are watching television every day? There was a huge downfall in the number of TV watching individuals. Mobile phones and video streaming apps are the major reason for this. In case you launch your own video streaming platform, you should plan the strategies for a long-term period.
The major profit comes from the subscriptions. So, working on it on a higher note will add more value to your business. The pricing of the content plays a major role. Hence, do not deny them at your earlier planning stages.
What are the best ways to glue up users to your Netflix Clone app?
If you are planning to launch your on-demand Video streaming app in the market, the below passage is for you. The success of a business relies on the strategies you opt for. Most of the time, entrepreneurs fail to work on it. Here are some of the points you must consider to implicate in your Netflix clone app.
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Engage your users through prompt notifications
When I say notifications, it is not limited to the push notifications sent by the apps to the users. There are several ways to notify your users. Encourage the subscribers to opt for personalized notifications where they will subscribe for your email notifications and newsletters. This is one way where you can improve your brand value.
Through this, you can send personalized notifications to them for promotion or for sharing some important updates. This will also pave the way for you to send negating content and messages about movies, shows, and series.
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Keep on track with your newly joined users
Video streaming apps promote their brand among people by providing them free-of-cost services. It is completely their freedom to continue further with your app. But, the anchor to motivate them to subscribe to your application lies in the quality of your service. So, you have to carry out aggressive marketing strategies to attract your users. Efficient marketing of your app will earn you more users opting for a premium subscription.
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Develop a cross-compatible app to allure all users
When you reach out to a large number of users, that will be the prime success of your app. To reach out to them, you need to avail your app for them. So, go for a cross-compatible app that can run on any platform. Apart from them, you can also try to run your app on custom streaming devices.
These custom streaming devices are widely popular among people to watch their OTT content. Some of the popular custom streaming devices are Amazon fire stick, X box, Nvidia shield, etc. However, you can also think of developing one for your OTT app.
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Attract them with more subscription plans
Try to work on different subscription plans to woo your users. In case if you stick on to provide the same plan to all, the users will never show interest. Hence, provide a lot of options and subscription plans to attract users.
Wrapping up,
On-demand video streaming apps are setting out a new business path for entrepreneurs to flourish. This opportunity will result in several folds. As the saying goes, “Make hay while the sun shines,” you can make use of this opportunity to enter the market. We wish you the best to start on with developing a video streaming app like Netflix today!