How much it cost to develop an app like Netflix?

OTT has changed the entertainment preferences of today’s audience. People can stream their favorite shows anytime and anywhere, on the go. We will provide you with a complete guide about App Development Cost Like Netflix.

Today, billions of users access content online, increasing the demand for high-quality and engaging OTT app development. 

• 34.97% of users watch OTT content several times daily
• By 2027, around 3.5 million people will be using OTT AVOD services.
• 85% of US people have subscribed to at least one OTT platform, showing immense popularity.

However, it has become difficult to excel in this highly competitive market with top giants ruling the industry- like Netflix with 260.28 million subscribers worldwide.

Businesses seeking an opportunity to enter the entertainment market by developing a Netflix-like OTT app. But, “How much will it cost to build an OTT app like Netflix?”. 

Expert says that it may cost around- $60k- $200k. Let’s explore ourselves.

We have created this blog for businesses like you to enter the OTT market, highlighting costs and factors affecting overall development costs.

Connect with OnGraph for OTT App Development in 2024.

Netflix Market and Important Statistics 2024

Netflix’s market has grown, outranking other video streaming platforms.

Netflix faced a big-time downfall for a short period but backed up again with great momentum.

• As of the first quarter of 2024, Netflix has 269.6 million paid subscribers worldwide.
• In 2023, Netflix’s global revenue was $33.72 billion.
• It has the highest market share of 28%, larger than other OTT platforms.

This shows the strong dominance of Netflix. This explains why businesses want to enter the OTT app development market. But, how does it benefit business? 

Why Should Business Invest in Developing an OTT App Like Netflix?

Netflix has completely changed the way we experience video content. It’s been a time that I have been to the movie theatre and saved significant money. However, I pay for a Netflix subscription and that’s not much.

Today, streaming has become the entertainment frontier, influencing businesses to invest in OTT app development services. 

Why? 

• Evolving media and entertainment needs
• Advancements in smart devices
• Increasing demand for subscription services 
• The craze for original content
• Personalized content in different localized languages.

Business Benefits of Investing in OTT App Like Netflix

Developing an OTT App will benefit your business in several ways-

• Global reach- You can reach a wider audience and stream your content worldwide, making global brand value like Netflix. 
• Improved brand visibility- You can represent your brand globally in a native language that keeps users engaged, building strong brand value globally.
• Better customer engagement- Personalization is the key to your customers. Streaming content in English in the UK, US and Hindi in India will help you target more customers. These apps will let customers choose their preferred language for better engagement.
• Diversified revenue streams- You can drive revenue through different subscription models and run ads to diversify your revenue streams.
• Data-driven insights- These apps will help you understand your customers better by tracking and analyzing their viewing history, so you can stream and provide relevant suggestions. 
• Original content- Content is the key to the success of your OTT app. Providing original content in different locations will keep the craze among customers to pay for subscriptions.

Build a Readymade OTT App with us!

Let’s look into the cost estimation, or connect with us directly for a better outlook per your business requirement.

Cost Breakdown- App development cost like Netflix

There is no exact number for this question. Everything depends on unique business requirements and other factors that impact the overall OTT App Development Cost Like Netflix.

As a leading app development company, we have provided a cost breakdown for developing an OTT app like Netflix based on different development phases and complexity.

This cost range will differ depending on several factors. Let’s consider them also.

Factors affecting OTT app development cost like Netflix

Here are the factors that can impact the overall OTT app development cost.

1. OTT App Features and Complexity

You must decide what features you want to include in your Netflix-like app. Analyze your competitors and conduct market research to understand customer’s high demand, and include each feature. But make sure the more the features, the more the cost of your app.

So, understand your budget and fit only relevant features. Developing a simple app with simple features will take less development time and cost compared to a feature-rich advanced and highly integrated app.  

List of Features to Integrate in Your Netflix-Like App

The cost will rise with the level of features.

2. Type of OTT Platform

To reach a wider audience, businesses want to develop OTT apps that work similarly on all platforms, such as mobile devices (Android and iOS), web, and cross-platform. The choice of platform will impact the cost.

3. Development team

The development team’s expertise also impacts the overall development cost. You can choose- freelancers, an in-house development team, or outsourcing for OTT app development services. Each option has different cost structures that can significantly impact the development cost. 

4. UI/UX design

An intuitive UX/UI is the key to engaging customers. Whether you have fewer features or more, from simple to complex, providing a seamless experience is a must.

However, adding more features to your UI will cost more. Hiring skilled developers and designers will save development efforts and time, reducing the development cost.

5. CDN and technology stack

The choice of Content Delivery Network (CDN) and the technology stack used (backend infrastructure, database systems, APIs, etc.) influence performance, scalability, and development costs.

6. Content inventory size (cloud storage)

The amount of content stored and managed in the cloud (videos, images, metadata) impacts storage costs and the complexity of the backend infrastructure required for content delivery and management.

7. Licensing and acquisition

Costs associated with acquiring content licenses and rights for streaming affect the overall budget. Premium content and exclusive rights generally come with higher costs.

Also read- OTT App Development Cost: Complete Guide 2024

Strategies to Monetize Your Netflix-Like App

However, the ultimate goal is to generate revenue. But which strategy to adopt is another question. There are different OTT business models that you can use as per your requirement to sustain in this evolving and competitive market. 

• Subscription Video On Demand (SVOD)- users will pay a recurring fee to renew their subscription plan every month or year.
• Ad-Supported Video On Demand (AVOD)- users access the content for free but get frequent ads during playback. People buy premium plans to enjoy ad-free entertainment and media content.
• Transactional Video On Demand (TVOD)- users pay on a one-time basis to rent or buy their favorite shows or access premium content. This plan generates immediate revenue while offering flexible content.
• Multichannel Video Programming Distribution (MVPD)- users access a specific group of channels with a monthly fee to access live channels with an internet connection.
• Hybrid Model- integrating multiple monetization strategies, benefiting users with different streaming expectations. It improves revenue generation while targeting different audience segments.

Apart from this, you can also consider the following models.

• In-app purchases
• Freemium model
• Content licensing

To understand your business model, connect with OnGraph experts.

Choose Readymade OTT App Development Solution to Build Netflix-like Clone

Every business is in a race to build faster and launch apps faster. What could be a better solution than opting for a readymade OTT app development solution?

It will help you build your brand visibility faster with little changes in UX/UI and integrate some top features as per your business requirement, and you are all set to launch. Unleash innovation with our custom OTT app development services. Create an OTT app with a unique experience, features, and branding to get a competitive advantage in the industry.

• Faster-time-to-market
• Customization and personalization
• Reduced development cost
• Quick launch
• Bug-free code
• Innovation at its best
• Value-driven
• Source code ownership

Explore our wide range of Readymade/ white-label solutions.

Build a Cost-effective Netflix Clone with OnGraph

At OnGraph, we have an OTT app solution ready to help you scale in a few weeks. Our expert team ensures a seamless integration process, empowering you to deliver high-quality content and maximize viewer satisfaction. Take the first step towards enhancing your digital strategy today with our innovative, readymade OTT solutions.

We handle everything from identifying key business requirements to extended support post-launch. With 15+ years of experience, we have mastered developing advanced AI-integrated OTT solutions to cater to current market and customer needs. 

• 99% Customer Satisfaction Rate
• 200+ Integrations
• Complete Code Ownership
• 4-6 Weeks faster time-to-market

FAQs

Q. Why should I develop an OTT app like Netflix?

• Global Audience Reach
• Enhanced Brand Visibility
• Improved Customer Engagement
• Diversified Revenue Streams
• Data-Driven Insights
• Cost-Effective Distribution

Q. How much time it will take to develop an OTT app like Netflix?

It might take time from 4-9 months. It may vary as the development time depends on several factors, like features, complexity, skill, experience, and type of development services. You can connect with our experts to understand your estimate.

Q. How Much Does It Cost To Build a Custom OTT App Like Netflix?

Here is the cost breakdown-

• To build OTT MVP- $18k-$20k
• To build fully-features OTT app- $75k-$150k

To know more about the cost, connect with our experts