Do you know the impact on video streaming apps amid COVID-19? Or any other industry? Well, once the coronavirus is over, the video streaming industry is going to witness a huge change. Before that, let’s start from the initial point to move to the end of the virus.
Starting from China and now spreading around the world, the Coronavirus outbreak has infected millions of people, taken thousands of lives, and many more to come in the future.
Not only this, but COVID-19 is influencing the lives of everyone – be it human or animals. We are facing a lockdown and quarantine situation that is going to leave a huge impact on our personal and professional lives.
The impact of COVID-19 on mobile app economy and other industries is on a whole new level. What makes the situation much worse is that there is no cure or vaccine in the market.
So, we have no idea how long this is going to stay when so many lives are already lost. To stay safe and aware of the virus, people are taking self-quarantine steps.
Staying at home, working from home, and spending time with family has become the major part due to the coronavirus pandemic as a personal measure.
However, there is a hike in the impact of video streaming apps amid COVID-19. However, it is not limited to one industry but has an impact on other industries as well.
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There are several cities that are sealed or locked down to avoid any social gatherings. In the state of isolation, people are opting for video streaming options to stay to pass some time.
In March only, the video streaming has witnessed a growth of 20% worldwide. The major increase can be seen between 10 a.m. and 5 p.m. that goes up to 40%.
To give you a better understanding here is a glimpse into media consumption as of March 2020.
As per Statista, in 2020, the total revenue of the video-on-demand segments and apps will reach approximately USD 34,777 million. Whereas, by 2024, the market volume will soon reach the level of USD 40,095 million with an annual growth rate of 3.6 (CAGR 2020-2024).
However, the video streaming companies are going through high demand that is making them take some measures like reduction of streaming quality, repeat telecasts of the old shows, etc.
Video Streaming Apps
Video streaming apps are slowly gaining a lot of popularity in the market. People spend around ⅔ rd of their time on the video streaming each day due to coronavirus outbreak.
Even social media websites and apps are going for live streaming that is an addition in the video apps. There are so many aspects for which video streaming apps are used by the users.
Video streaming is accessing the video from anywhere with a stable network. If anything, even without pandemic conditions, there are more than 80% of the users around the globe that depend upon video streaming.
This number has increased since the coronavirus pandemic outbreak around the globe. People are investing in video streaming much more due to lockdown and quarantine conditions.
In this ordeal of coronavirus outbreak, it is your best chance to increase the total number of downloads. If you are in the video streaming race, then it is best to understand them.
#1 Fitness Video Streaming App
One of the major industries is the fitness industry that is included in the video streaming app development. It is a powerful tool with amazing video content that gives it a hike.
Fitness video streaming app development can include the subscription model, paid promotion, and whatnot. But how can this be helpful during the time of a coronavirus outbreak?
The major reason that fitness apps work well with the video streaming can grow in the COVID-19 outbreak. There are a number of benefits to going for fitness video streaming apps such as:
- Customer Engagement – The users are looking out for different ways to keep themselves entertained during the coronavirus outbreak. Hence, comes the gamification feature that can enhance user engagement such as bonuses and events.
- Retaining & Attracting Customers – The coronavirus outbreak gives customers ample time to devote time to get involved in fitness and health activities. They won’t be able to hit the gym or invest time in yoga but they can attract new customers and retain them with online videos.
- Brand Building – With the quarantine period, there has been a hike in the search result for gym and yoga videos. If you want to give a jump to video streaming during the ordeal, then it is best to go for the fitness apps.
Are there apps available in the market for video streaming fitness apps?
Well, there are plenty of them that are ruling the market. Some major Live Streaming fitness apps names include YouTube, Snapchat, Facebook, Meerkat, Periscope, YouNow, and many more.
These apps are the most promising apps in the market that have a huge scope to grow and have opportunities to thrive in the market. During the coronavirus outbreak, fitness video streaming apps are bridging the gap between customers and their health routine. After all, it is one of the major revolutions in the entertainment industry.
#2 Movie Video Streaming App
The movie streaming apps are also extremely famous in the market. Due to the quarantine period, users are spending more time watching movies and sitcoms. There are a number of apps that are available in the market that includes Netflix, Amazon Prime Video, and so on.
Why will users go to the movie streaming app during the coronavirus outbreak?
- Eliminates Download time – There is no doubt that movie streaming is the best time-saver with the coronavirus outbreak. However, the free online movies eradicates the requirement of downloading the movies on desktop, laptop, mobiles, and tablets.
- Cost of Entertainment – The cost of entertainment plays a vital role since users can simply purchase the subscription for the monthly budget. However, movie streaming once subscribed can run efficiently on the mobile phone and television apps. As a result, it saves the cost of recharging the television operators.
- Content Database – The movie streaming apps contain a vast database that makes it easy for users to explore and access as per their wish.
#3 Channel Services/Live Video Streaming App
Similar to movie streaming apps, the channel services video streaming is also extremely popular among the audience. The users can watch their favorite shows and television telecast right on their phone.
Be it HotStar or News apps, they show the real-time update to the user in the HDR quality. The major benefits that are included in the channel apps are similar to the one of movie streaming apps.
What are the Features of Video Streaming Apps?
What are the major features of video streaming apps?
Before understanding the features, make sure that you have a clear understanding of the intent and core focus of the on-demand video streaming apps. Here are the major features that one must keep in mind to grow and thrive.
Apart from these common features, there are several features that a video streaming app must include:
#1 Geo-Location – The video streaming apps must include geolocation tracking that can be extremely helpful for the users. The popular shows of the specific region or country can be visible even showcasing the current broadcast.
#2 Recommendation Engine – The time users spent watching movies and shows are essential when it comes to streaming. Their history can give an idea on the analytics about the user’s preferences keeping users engage with the app.
#3 Payment Gateways – In order to enjoy a bit during the coronavirus outbreak, it is essential to ensure that the payment methods are kept in mind. The security and privacy of users should be maintained to have a secure payment gateway.
How to Develop a Video Streaming App?
In order to develop a video streaming app, it is essential to keep all the features in mind. Along with these features, it is vital to know the tech stack that can offer topnotch mobile app development irrespective of your business model.
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#1 Big Data
The video streaming app works as a buffer between users and publishers. However, users can only tolerate the lag of 90 seconds and above it, they simply uninstall the app usually. It is essential to include several servers on which the original data is stored.
A rich ecosystem can help in data analytics and facilitate algorithms to the customer the services. It makes it essential to integrate the framework with the platforms to the pipeline for data processing and batch data. The framework includes Flink, Samza, Storm, and Spark.
#2 Databases & Caching
The caching is extremely essential for the frequently performed operation. Along with this, the databases are used as storage services that include MySQL, Cassandra, and SimpleDB to offer data availability, scalability, and security.
#3 Data-Processing Pipeline
The queuing systems are required when it comes to processing, storage, and geographical distribution that requires Apache Kafka. It is used to build data pipelines and real-time streaming apps.
How Much Does it Cost to Develop a Video Streaming App?
The fact is that not everyone is planning to invest in anything due to the coronavirus outbreak. Even if you are planning to develop a video streaming app then make sure to know the right budget.
In the time of crisis, here are the major factors that must be included to get a better understanding of the costing. Here are the essential parts that must be included in the budgeting of the video streaming mobile apps (apart from features and tech stack).
- Market trends research must be done properly to ensure that nothing is missed.
- The specifications and prototypes are another factor to be included in the development process wisely.
- UX/UI quality of the mobile app for usability.
- Maintain and support.
So, if you are planning to develop a video streaming app during the time of the pandemic, here is the average cost that is $ 37,000 for one platform. However, for moderate and advanced features, the additional cost will be added above $45,000 and $75,000 respectively.
Read More: How much does app development cost?
Food For Thoughts
With the pandemic or without it, video streaming apps are extremely popular in the market. However, video streaming culture has gained a lot of popularity over the past month. So, if you want to be in the market then it is best to be updated about the outbreak and mobile app development company.
Remember, there is nothing that is easy when it comes to a pandemic, but it is essential to have a break out of the clutches so that we can grow stronger.
Co-Founder and VP Mobile Architect at Appventurez. An expert programmer who is passionate and loves to explore emerging mobile technologies. As a leader, he is a perfect match as he is always there for the team to help and guide them to learn and implement smartly and effectively.
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