If given an option between watching a movie or reading a book, what would you choose? Well, to put it out there 90% of people choose to watch a movie or video over reading.
Live video streaming platforms have become exceptionally popular over the past few years. Statista reports the revenue in the Video Streaming market amounts to almost $26 million as of 2020.
The vogue of video streaming websites is not a wonder. Presently, we are a part of live interviews, workshops, webinars, online conferences, etc. That’s the reason competent businessmen are investing in building live streaming video websites like Twitch. With the careful approach, even startups can make their mark on video streaming websites.
But First, What Is Twitch, And How Does It Work?
Twitch.tv is an online streaming platform where users can watch or broadcast live or prerecorded videos. Twitch was commenced in 2011 as a small platform for live video streaming called Justin.tv. In the same year, Justin Kahn, the platform founder, obtained $8 million in endeavor investments for platform development
A live video streaming app development like Twitch is a real moneymaker. With Twitch, there are three radically different cost tiers. They cost $4.99, $9.99, and $24.99, respectively. As we referred to, Twitch is for video game players. You can watch the biggest gamers around the world as they play the most current or retro titles. You can furthermore, chat with popular gamers and other enthusiasts in real-time.
Twitch Never Stops Its Growth (subheading)
Twitch’s success is quite apparent. it’s time to end and rest, one might assume… but no! The company keeps thriving and developing to meet the needs of the market and customers. And today, Twitch offers services strived not only at gamers. Among other things, the Just Chatting element has won popularity: it’s a platform facilitating streamers to communicate effectively with the audience.
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What Benefits Can Live Video Streaming App Development Bring For Your Business?
There are many benefits to being a live streaming video provider, as far as what it can do for your company. Let’s go learn a few of those.
- New Source of Revenue:
Video stream apps always prove to be a new source of income for businesses. In any of the regions about which we just recited, video streaming means more openings.
- Access More Users Globally:
The best part about video streaming apps that will allow you to access customers globally. No matter where your physical location is, virtually you’re present everywhere and anywhere.
- Greater Audience Potential:
Physical events are usually restricted to the space convenient at a given outlet. Regardless, with live streaming, you can ask for as many people as you like to “attend” your event on their screens.
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Types Of Video Streaming Apps-
So let’s commence discussing some of the varied kinds of video streaming services that are available on the market.
1. Live Game Streaming Apps:
Video and live games are extremely famous these days. Streaming services that cater to the demographic that fiddles them and has a curiosity in them are on the surge. Twitch is an excellent example of this with over 15 million day-to-day active users. It’s a service where you can follow your favorite gamers to play prominent titles and comment on what they’re performing in real-time.
2. On-Demand Mobile Video Streaming Apps:
On-demand mobile video streaming apps are hugely popular nowadays, which is easily found in every house. Some of the most prominent ones are Netflix, Hulu, Amazon Prime, etc. Some on-demand mobile video streaming apps deliver both video-on-demand and live television. You can furthermore, watch a full library of shows, movies web series that comes with the service.
3. Video Streaming Apps from TV Providers or Networks:
There are also video streaming apps from TV providers or individual networks. These are HBO NOW, the Starz streaming service, or Showtime streaming. Relatively, then paying for premium channels as a fraction of your cable package, as was once the case, you can now purchase streaming services for each premium channel.
How To Monetize Your Video Streaming Service?
Today Twitch is being monetized through advertising and extended paid subscriptions. Let’s see how you can monetize your video streaming service app.
Ads:
The vogue of the video website is the initial step to decent earnings. Not surprisingly, Twitch owners made the advertisers eager for their service in a short period. Twitch assembled a huge niche audience that was willing to consume advertising and enhance the corporation.
Paid subscriptions:
The membership is practically free: you can glimpse the Twitch content, communicate with people, and stream your video live without any fee. But if you are interested to work with the Twitch platform better and efficiently, you have to buy the subscription.
User Earnings:
Ultimately, the streamers themselves have a chance to start reaping – the affiliate program provides them with decent payments for each persuaded user who has viewed the advertisement sighted on their channel. Some of the partners can also receive fees from subscribers to access high-definition streams and video libraries, to get deluxe chat sessions, and so on.
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Must-Have Features of a Live Video Streaming Application
User Registration:
If you are planning to create your own streaming service application, the first and supreme feature that you need to consider is user registration.
Live Video Streaming:
Viewers yearn for live streaming sites that deliver good video quality. For high-quality video service, RTMP should be utilized. RTMP stands for real-time media protocol.
Automatic Video Categorization:
It is not feasible to manually catalog streaming data in real-time. Machine Learning and Artificial Intelligence (AI) assistance in this regard. AI can automatically evaluate the video content and Machine Learning can stave off copyright breach on your platform.
Chat:
Sites like Twitch have chat components that enable users to interact with each other during live streams, and viewers can implore questions from the streaming person.
Security:
To create a live stream of paid content, progressed security features are significant. To forgo a data breach, prevent video assets from a data breach, you can use DRM, AES encryption, and IP-based access control.
Personalized Content:
The live video streaming site/app comprises a spectrum of video categories. In the discover more section, users can choose the content relevant for them and watch.
How Much Does It Cost To Build A Live Streaming app/ website
There isn’t a fixed amount, nor can you build a live streaming app for free. The cost of building a live streaming app or MVP depends on the scope of work, the number of hours involved, and design complexity.
The live streaming video app or website may range up to 25,000-30,000$ if Hire mobile app developers from California. But, again, it may differ considering many developing aspects.
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Do You Need a Development Partner perhaps a live video streaming app development company?
Are you looking for a development company to build an exceptional app for your live video streaming platform? We got you covered. We ThinkStart Private Limited is a leading live video streaming app development company in California. With years of advanced experience and having skilled developers on board, we develop the best app that speaks for itself.
Contact us to know more- [email protected].
