What Are The Benefits Of Developing Live Streaming Apps?

The benefits of creating a live streaming app
In fact, live streaming app development can be very profitable for your business and enable your business to make a difference in the market. Perhaps, you may face various challenges in the market. All of these challenges can be overcome with streaming mobile apps.

Get more customer attention
Live streaming can help you get more customers’ attention because live streaming is always recognized by users. People today are more interested in live streaming than any other type of content. Therefore, creating an app like this helps keep customers engaged and attracts more of their attention.

Increase brand loyalty
Live streaming apps make it easy for you to gather a huge user base on your app, which helps in gaining brand awareness. The truth is, live streaming gives you the opportunity to increase customer loyalty to your brand by streaming the content they are looking for. By giving them what they want, you build loyalty in their minds and recursively invite them to use your app.

Great return on investment
Money is what every business is after, and live streaming apps allow you to make a lot of money just by rendering video content. You can earn a lot of money by streaming high-quality and engaging content. By the way, streaming apps enable you to get a great return on your investment.

Types of Streaming Apps

When we’re talking about streaming apps, it’s crucial to distinguish between two main solutions: streaming-only apps and broadcast-capable streaming apps.

Streaming vs. broadcast
If your customers only consume content through your app, then you need to build a streaming app. However, if you want to user generate some content and share it with other users in real-time, you need to include the broadcast option.

Video streaming apps like NETFLIX
The video-on-demand service, once derided by Blockbuster, is the dominant force in the movie viewing revolution. Today, Netflix produces its TV shows and movies and has more than 200 million paying subscribers
Live/On Demand: On-Demand

Read: Cost to develop an app like NETFLIX

Live streaming apps like TWITCH
Twitch is the king of streaming in video games. Technically, apps like Twitch aren’t much different from services like Netflix or Hulu. It’s still about sending video, live or on-demand, over an internet connection. The only thing is that they deliver user-generated content to a global target audience, rather than licensing or producing their content.

Streaming apps like TIKTOK
TikTok is a booming social media app that allows users to watch short videos and broadcast their live videos to other users.

Music streaming apps like Spotify, Pandora
Music streaming services like Spotify, Pandora work like a virtual cloud music library, allowing customers to listen to their favorite music. Technically, these types of applications require less complex software and require less storage capacity because the audio takes up less space on the server.

Read: Cost to develop music app

Fitness streaming apps like APPLE FITNESS+
Apple Fitness+ is a perfect example of how live streaming can work in a fitness environment. You can join on-demand workout classes and see your performance data live on-screen and synced with your Apple Watch.

Then, there are solutions like the Live Streaming Fitness app where you can see a trainer and broadcast your workout so they can guide you through it.

Important Things To Consider When Creating Live Streaming App

Creating your video streaming service requires you to consider a few points:

• Discover And Realize Your Niche

With the availability of various types of content ranging from entertainment to education to fitness, it becomes essential to create a differentiator with a specific niche. You can build a platform for documentaries or indie videos.

• Monetizing The App

Innovation and growth can be achieved by disrupting typical monetization models. Plans should always be audience-oriented. As the incumbents have already taken the market space, you can try monetizing with free subscriptions with advertisements or product placement.

Along with this, you also need to look into the multi-currency requirements too if you want to build your streaming platform to run worldwide.

• Improve Experience

You should optimize the app’s performance for border cases like low internet speed or people with limited access.

• Managing Different Roles In The App

User view is just one user role in the Live streaming app. One needs to plan for different users and their access, such as admin, video owner, partners, moderators, etc.

Total Cost Of Live Streaming App Development

The total cost of the development of the Live Streaming app ranges from $150000 to $350000. This cost includes the iOS application development, the Android application, and back-end and front-end development. A lot of work goes into the optimization of streams and building scalable architecture. DevOps service is needed to make optimized use of storage and retrieval services.