Amazon Prime Video is a popular video streaming service platform. Amazon Prime was started in 2005 as an Amazon membership service. With the evolution of Prime membership, it now includes video streaming, shopping, and reading. Are you an entrepreneur who is intent on launching the Amazon Prime Video Clone app? Read on this blog for insightful information.
Stats And Facts Of The Amazon Prime Video App
- At the initial stage, Prime Video was launched as Amazon Unbox and merged with Prime membership. It has expanded into Europe, China, Cuba, Iran, North Korea, and Syria.
- As of 2020, Amazon Prime Video is ranked third among the digital video service platforms. Moreover, it occupies the second position in the United States.
- The total number of Amazon Prime Video subscribers is 117 million across the globe, and its revenue is USD 25 billion. Recently, the number of subscribers increased to 150 million. Comparatively, there are more subscribers in North America.
- According to Statista, 39% of Americans are currently subscribing to Amazon Prime Video.
- The total number of content titles produced in 2019 was 70. Now, it has 222 original titles.
- Notably, young demographics are the most frequent app users. 23% of users are aged between 18 and 29.
- In 2017, its revenue was $700 million, and in 2020, it was &2.5 billion.
Business Model of an On-Demand Video Streaming Service App
Amazon disrupts well-established industries through technological innovation. It is the largest online marketplace, live-streaming platform, cloud computing platform, and AI assistant provider. Amazon Prime offers users with legal access to various movies, series, and TV shows in which they can stream their favorite whenever they want. This platform charges the subscription from the fee as there is no free version available now. Moreover, its key factors are offering original content, excellent user interface, and support with platforms & devices.
Significant Features to Consider During Video Streaming App Development
- The Content Search feature helps users search for any video content based on name, genre, actors, director, reviews, and much more.
- Based on the users’ preferences, the Content recommendation feature provides similar video content to them.
- The Download feature will allow the users to download the video content and stream it without an internet connection.
- Using the Video Quality Adjustment feature, the users can stream the video in the required video quality.
- The Settings section allows the users to change their privacy controls, choose different plans, alter profile details, update credit card details, and manage the subscription fees.
- Including the Multiple payment gateways will help users choose their preferred payment options to make a safe payment. Consider incorporating popular payment gateways such as Google Pay, Apple Pay, and PayPal.
- You can even include the in-app video recorder feature that facilitates the users to record the playing video. Allow them to share the recorded video with their friends via social media accounts.
- Users can use the Parental control feature to prevent anyone from accessing a certain video content without entering a specific PIN.
- Using the Chats and comments feature, users can communicate with each other while streaming the video content. This way, they can leave the impressions of the watched series, movies, or TV shows.
- Incorporate the Multiple language support feature in your app to support numerous languages. This helps to increase the user base.
Technology Stack Used to Develop The Amazon Prime Video App
Technology stack plays a vital role during Amazon Prime Video app development. Let’s see a few of the standard technologies that can be used to develop the video streaming service app.
- Amazon EC2 Servers
- React JS
How To Foster Huge Profits From An App Like Amazon Prime?
Most businesses went down during the Covid-19 pandemic. But, the OTT platform has witnessed a gigantic improvement during this crisis. It is essential to decide on which monetization strategies as you get the maximum ROI. This paves the way to generate revenue from various sources. Let’s see how the video streaming app generates revenue.
Subscription-Based Revenue Model
This is an efficient way to generate revenue from the on-demand video streaming service app. You can allow your users to enjoy unlimited video content once they pay the subscription plan. It can be either a monthly subscription or a yearly subscription. Amazon Prime, Netflix, Hulu, and HBO Max follow this business model as it is a basic revenue fostering model.
Advertisement-Based Revenue Model
In this model, the video content can be embedded with advertisements to generate revenue. You can charge the business partners for the same. This way, you can harness more revenue as it is widely followed in most apps. A good example of an Ad-supported model is YouTube.
Transactional-Based Revenue Model
In this revenue model, users have to pay a one-time premium for the content to own it. Or else, you can provide the content at a rental. For this, the users have to renew the premium after a particular time. iTunes, YouTube, and Amazon’s Rent or Buy video store follow this model.
Licensing Self-Owned Content
Providing the licensing self-owned content to the users helps to foster huge revenue. It would be better to integrate this model in your Amazon Prime clone app once you draw attention from more users.
It is all about integrating numerous revenue streams to generate revenue as it improves the cost-effectiveness of the project. This helps to increase ROI to a greater extent. The perfect examples of these revenue models are YouTube TV and Amazon Prime Video.
Salient Factors To Consider When Developing A Video Streaming Service App Like Amazon Prime
Determine A Target Niche
It is necessary to create a differentiator with a particular niche. The availability of the content on the app can range from entertainment to education. Also, you can consider fitness related content. Besides this, you can offer documentaries and indie videos on your platform. You have to choose which audience you are going to target.
Plans have to be always audience-oriented. Growth can be achieved when disrupting the typical revenue models. You can come up with your own way of monetizing the video streaming service app like Amazon Prime. At the initial stage, you can try monetizing the app with free subscriptions with advertisements. If you are planning to launch the app globally, you have to consider the Multilingual and multi-currency features.
Optimize The App’s Performance
Ensure that you optimize the performance of the app even for border cases, including low internet speed. This helps to gain more potential users.
Apart from streaming the app, you have to focus on offering a personalized user experience. Therefore, concentrate on data analytics and personalization aspects. This makes the app display video recommendations according to every user’s preferences.
Different Panels In The App
All we know was the user panel that lets the users’ stream videos as they wish. Apart from these, there are many other interfaces you can consider implementing. Some of the predominant panels or interfaces are admin, video owner, partners, and moderators.
Cost Estimation of Amazon Prime Video Like App Development
There are a lot of ways to develop a video streaming app. Mainly, the Amazon Prime Video like app development depends on the option you choose. In addition to this, it is difficult to say the exact cost without knowing the business requirements and needs. Typically, the app development cost relies on the following factors.
- App platform
- Technology stack
- App features
- Location of the app development team/company
- Skills and experience of the app developer
Amazon Prime Video Clone – Develop Your Video Streaming Service App
Are you looking for a reliable clone app development company? Let’s connect! At UberLikeApp, we proffer the Amazon Prime Video Clone script that enables you to launch an on-demand video streaming app in almost no time. Get the Amazon Prime Video clone app at an unbeatable price. And, as a leading mobile app development company, we constantly get into the process of learning new practices and methods of app development. We ensure that we conduct several levels of testing so by the time of launch, the app will be free from technical glitches, errors, and bugs.
Hopefully, this blog helps you to know the aspects of developing a video streaming service app like Amazon Prime. Remember that preferring the clone approach is both time-conserving and budget-friendly. Moreover, launching the app in the pandemic crisis is beneficial for you as the demand for such kind of app is high this time.