I am Nitin Garg Founder of BR Softech PVT LTD - an Award-winning mobile game development company. We are armed with 180+ geeks & 2753 clients worldwide, I have driven by the spirit of entrepreneurship and dream to build a billion-dollar-company.
Do you remember those days when you argued with your siblings about who would gain control of the TV remote to determine what to watch next? You may be able to recall those days only in your mind.
Live Video streaming apps like Uscreen, Twitch, BrightCove, Zoom, as well as so many others, are helping people to understand the new meaning of entertainment. These apps let people enjoy full movies, live sports events, and so on depending on their choices at their preferred pace.
As a wider picture, live video streaming app development is not only meant for entertainment purposes. Rather, it can also be handy for businesses.
If you also want to take a step into live video streaming app development for Android and iOS, then this blog holds pretty much everything you will need to know.
What is a Live Video Streaming App?
As the number implies, the live video streaming app allows users to simultaneously record and broadcast videos. Your videos do not need to be recorded and then uploaded to ensure they reach your intended audience. The app will broadcast your video in real-time, so your viewers will be able to see everything in real-time.
Applications such as these can be used for a variety of purposes, such as connecting businesses with their customers, and connecting colleges and universities with their students.
An Overview of the Live Video Streaming Market
Live video streaming apps are on the verge of gaining in popularity. The mainstream behind the popularity of the video streaming app is the increased use of smartphones and tablets.
The video streaming application market size was calculated as USD 30.29 Billion in 2016, saw unprecedented growth, and grew into an economy of USD 70.05 billion by 2021.
Twitch is the world’s largest live streaming platform, according to StreamElements, with more than 9.3 billion hours viewed per month.
According to a report by Cordcutters, HULU is the largest video streaming platform in the US, with a community of more than 3.3 million paid subscribers.
More than 82% of people prefer to watch live videos rather than reading a blog as per Livestream. Hence, product-based companies need to shift their focus from blog writing to live video streaming to build better brand awareness about their product.
Millennials are increasingly turning to live streaming to express themselves. According to Neil Patel, around 63% of adults ages 18-34 regularly watch live streaming content.
This is how the market for online video streaming services is flourishing. Setting your foot in this lucrative market will turn out to be the smart decision.
Understanding the Basic Terminology of Live Video Streaming App
A lot of technical terms come to mind when you are developing a live video streaming app. No matter what development approach they use or what programming language they use, several things will remain the same in live streaming app development.
We will now discover what the basic terms for these common live-streaming apps are.
Video Streaming API
API is the abbreviation of the Application programming language. In simple words, AI is a set of detailed instructions for developers.
API makes it an easy task for developers to simplify, and standardize coding language to easily interact with the application or software.
Furthermore, the video streaming API also comes into use to make it easy for developers to access content management systems (CMS) and customize the features with ease.
What is the Live Streaming SDK?
SDK or software development kit meant to be used for the purpose of developing applications with audio and video streaming capabilities.
With the help of SDK, you will get access to a number of tools that can be used to develop certain applications with certain functionalities. Developers can integrate these tools into the live-streaming app to make it more powerful and addictive for the audience.
HTML 5 Video Player
Using an HTML5 video player as the foundation of your video streaming app would be the ideal choice due to its compatibility with all ranges of devices.
How Does a Live Streaming App Make Money?
What are the advantages of developing live streaming apps? Does your live streaming app allow you to earn money? If so, what are the potential methods to make money from your live streaming?
These are some of the most common questions. Everyone strives to find answers while developing a live video streaming app.
Here we have mentioned a few of the live streaming apps monetization models that you can follow to make money.
1. Asking Fans for Donations or Tips
Most live video streaming websites such as Facebook Live, YouTube Live, and many others now allow creators to raise funds from their viewers.
You can also do the same to draw the attention of the creators and inspire them to create content for your live streaming app or website.
2. Subscription Fee
You are more likely to earn money if you receive tips from your audience occasionally. To ensure all of your monthly expenses are covered, the convenience of regular payments is better.
You can create your subscription plans and ask the users to pay according to the subscription plan to enjoy your live streaming services. The subscription fee is the majority source of your live video streaming mobile app revenue.
3. Generate Revenue from Ads
If you are planning to keep services of your streaming app free for everyone, then this is the best method you can use to earn some bucks.
Advertising in live streaming is a hot topic and will bring a lot of business opportunities for people. The only thing you need to do is keep control of the ads in your hand and display them at the right time without running the viewer’s experience.
4. Affiliate Marketing
Your live streaming video can be used to advertise some products related to the context. Inspire the audience to make a purchase from your streaming video, and every time a user makes a payment, you will be rewarded with a certain commission.
This is how you can make money from your live video streaming application for mobile. Now move ahead to start discussing how to develop a live video streaming app from ground level.
How to Get Started with Live Video Streaming App Development?
Now, let’s come to the development part of the live streaming app.
Get Set With Your Targeted Audience and Niche
The execution of streaming app development requires significant knowledge of your targeted audience and the niche in which you are going to stream your videos. Be engaged with your needs to learn about their real requirements and challenges they are facing with the existing streaming websites, video apps, or software.
Knowing your targeted audience will set you on the right path to developing an app that caters to their needs.
Pick a Reliable Team for Development
Before commencing with the development of the video streaming app you need to choose a reliable development partner. Get in touch with a company with expertise in streaming app development. Share your requirements with them and take the first step towards becoming a successful entrepreneur.
Pick Reliable Hosting and Storage
To ensure flawless streaming services you need to choose a reliable hosting provider. The quality of the hosting should be superlative and updatable as the number of users will grow in the future, so your hosting provider should be capable of extending your hosting capabilities.
The design of the application is the first thing your end users are going to notice about you. So you should keep hiring highly skilled developers who can ensure the UI/UX design of your application is better than your competitors.
Build and Test Your MVP
MVP refers to the lightweight or initial version of the applications. Build the MVP of your development idea, test its performance and ask your audience to share their feedback. By doing so you will be able to get feedback from your audience. Perform similar steps multiple times before finalizing the actual product.
What are the Must-Have Features for a Live Video Streaming App?
The following are the must-have features you should entertain while developing the live video streaming app.
User Sign Up/Sign In
Having a simple log-in form will allow the users to log in or register on your website.
This feature is meant to allow recording or broadcasting the videos to the end-users.
This feature lets the users search the content on different parameters.
The profile of the users should be visible to their subscribers.
Let the users explore all the videos in a single place.
Let the users share their thoughts about the videos streaming on your application.
Extending Streaming Functionalities
Alongside the high-quality live video streaming, you can also incorporate the screen feature to attract more audiences.
Create the various types of subscription models and let the end-user choose the most appropriate one depending on his/her requirements.
Show the end-user-related content as per the preferences of the user and viewing history.
How Much Does it Cost to Develop a Live Video Streaming App?
The cost of live stream video app development depends on the type of application you want to develop, so it is impossible to provide a definitive answer to this question.
If we consider the development of the basic application with all the basic features, then the overall cost of the development would be somewhere between $35,000 to $50,000.
The following are some of the factors that might influence the cost of the development.
- Live video streaming app development features
- UX/UI design
- Application size
- Streaming app developers hourly charges
- App developers location
How We Can Help You Develop a Live Streaming App?
As you can see the process of live streaming app development is long and tedious. When you partner with a development company such as BR Softech, they will handle all the heavy lifting for you. You come up with a vision, and our expert team of app developers will make your vision a reality on millions of devices.
We are a company behind the success of many mobile applications and we are proud of our work. You can also become a part of our growing community by availing yourself of our highly scalable, flawless working live video streaming app development services at affordable prices.
Contact us today to learn how we can develop your live video streaming app development vision into a reality on millions of devices.
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BR Softech Pvt. Ltd. is a prestigious IT company that specializes in providing cost-effective and tailored tech-enabled solutions for different industries and genres. Established in August 2012, we have over 10+ years of experience in mobile game development. Take your business to the next level with our feature-packed metaverse, casino, mobile game, sports betting and fantasy sports software development services.