The days of television as the primary source of entertainment are over; as time passed and technology advanced, live video streaming applications entered the market and destroyed the business. Netflix, Amazon Prime, Twitch, and a few more provide an ad-free watching experience to its consumers worldwide.
These video streaming service providers charge a monthly fee (users may sign up for a free 30-day trial version) and provide various options to suit each user’s streaming needs. Moreover, these streaming applications are eclipsing free streaming alternatives.
- According to a study, by the end of 2019, more than 155 million individuals were utilizing Netflix’s premium services.
- According to Statista, OTT media will produce 158 billion dollars in revenue by 2024.
- As per Statista, OTT customers in the United States spend about 19 hours each week on these platforms.
Don’t be surprised by these astounding stats; you may now create your live streaming application. Providing live android video streaming services through a mobile application is a multibillion-dollar industry with an optimistic future and expanding demand. And if you’re considering making such an android or iOS application, the first thing you should consider is the development cost.
The Fundamental Features of a Live Video Streaming Application
Now that you’re all set to select a reputable business to design your live video streaming application, it’s a good idea to have an idea of the fundamental functions it should include:
- Registration and construction of user profiles
- Search for content
- Reviews and evaluations
- A secure payment gateway
- Streaming across several devices
- Support for several languages
- Offline download capability
- The video’s quality
Which businesses need apps for live video streaming?
Given the success of Netflix, Amazon Prime, and other apps, it’s evident that live video streaming applications have wreaked havoc on the global entertainment landscape. The following sectors have a significant need for live video streaming applications:
To provide remote medical conferences, seminars, and other online meetings. Additionally, live video streaming systems may aid in intern training by demonstrating live operations and other procedures. Additionally, healthcare and medical institutions may utilize such applications to communicate critical notifications, policy changes, and even remote patient monitoring throughout their many branches. This would eliminate the need for in-person consultations, at least those seeking general advice.
Live video streaming applications have always been in high demand in the education sector. The emergence of coronavirus has fueled the flames. Universities, schools, and other educational institutions may use these programs to host online conferences, seminars, webinars, quizzes, and examinations. Additionally, the applications may support live broadcast events and real-time conversations amongst students. Additionally, live streaming applications are an excellent medium for employee training.
Social networking sites
The social media business has exploded in growth during the last several years. In this area, the adoption of live video streaming apps has accelerated. Brands worldwide concentrate their efforts on developing specific and exciting content and exposing it to their target audience in real-time. Brands can connect with their audience and expand their network with live video streaming solutions.
The Cost of Developing a Video Streaming Application
The estimated cost of developing a live video streaming application is between $20k to $35k. However, determining the precise cost of live streaming or video streaming application is impossible since it is dependent on a variety of factors:
Cost appreciating factors
The app’s features
The essential characteristics of a live streaming application have previously been discussed. However, you may add or remove more functions based on your own needs. The cost will vary depending on whether these features are added or removed.
The application’s design
The application’s design is critical to its success. A visually beautiful and spectacular video streaming application with a simple user interface has a greater chance of attracting more clients than one with an unpleasant design. To create a visually appealing app, you may need to engage more experienced designers who are proficient with the newest design platforms.
The technology stack required
MongoDB, Oracle, Amazon S3, Amazon EC2, or any other libraries and frameworks- Win.JS, Node.JS, React, or any other DevOps tools- Jenkins, Apache Mesos, GitHub, Sumo logic, or any other location of the mobile application development firm
If you permanently hire an in-house mobile app development company or a team, training and recruiting charges will be included. However, if you hire an app development business, the organization’s location is critical.
Since several aspects affect the overall cost of developing an android or iOS video streaming application, it is good to write down your needs before contacting a mobile application development business. And if you’re naive and have no idea how a mobile app is developed, consult a reputable mobile app development business,
Looking for live video streaming app development? contact application development company!