The entire world came to a standstill when the pandemic wave hit us so hard. We were all left with no other option rather than staying inside our dens. The Pandemic literally put an end to all events across the globe. The theatres, shopping malls, sports events, etc., were all completely shut down. There were no other means of entertainment for people.
With no other go, they started relying largely on various media options like OTT platforms to watch different video content. Video streaming platforms like Netflix, Amazon, Hulu, Disney, etc., became even more popular among people.
These platforms utilized the present scenario and laid the foundation for their further growth. One such example is that movies have been directly released on the OTT platforms after the theatres are shut down indefinitely.
How has Pandemic paved the way for the growth of Video streaming platforms?
The year 2020 was one of the important years in the history of mankind. It was the year that destroyed several lives and dreams of people. But to be different, why not discuss how good it was for entrepreneurs? The video streaming industry was the first one to benefit during that time.
With no options left to spend at home, people started using these platforms to watch different video content. To analyze and put out the data in precise, people have even become bored with televisions and are more attracted towards OTT apps.
These apps are so easy and convenient to use where they can watch their favorite content at any time they wish. There are no particular time frames to watch their favorite series or movies. They are free to watch the content whenever and wherever they wish. This has probably made people more comfortable with these platforms.
Netflix – Let’s see how this leading video streaming platform dilated their business.
Netflix is a subscription video-on-demand service provider that offers video content for people on a subscription basis. It has been voted as the most popular video streaming platform globally. According to the reports of July 2021, it has got around 209 million subscribers worldwide.
During a pandemic, the app gained around 16 million newly registered subscribers. The number of subscribers has doubled up considerably when compared to the subscribers from the last few years of 2019. The streaming demand is so high for the company.
To address the issue, it has recruited more than 2000 employees for customer service support to resolve the issues. It has even gone to the extent of even reducing the quality of the contents in the UK as people face constant internet issues.
On the other hand, it also focuses on releasing movies directly on its OTT platforms because of the theatres being shut down in many countries. Even if we are back to normalcy, there has been this question constantly raised by the critics- “Do we still go back to theatres when we can watch it on mobile phones”?
What do the statistics flaunt about Netflix users and revenue?
- Netflix is the largest paid streaming service in the world, with around 195 million subscriptions globally. They also spend nearly $17 billion on annual account spendings.
- The app generated annual revenue of $25 billion in 2020.
- 34.5 percent of its streaming comes from the US market, and 8.5 percent accounts for the overall viewing.
- Out of the total world population, around 34 percent of the people prefer watching Netflix to other video streaming apps.
- As of February 2021, the app features 3579 movies and 1836 shows for people to watch.
- Nearly 73.94 million subscribers are from the US and UK markets.
Why would it be a good idea for you to launch Netflix clone?
Video streaming apps have become a great entertainment option for people. More than televisions and theatres, they are very much interested in OTT platforms to watch their favorite video content. As I mentioned earlier, these apps provide an extreme level of comfort to watch videos. So this has resulted in a surge in the number of users for these apps.
In the current scenario, digital businesses are the trendy options to succeed. Gone are the days when people highly believed in brick-and-mortar types of businesses. But now, ideas and concepts play a major role. You can enroll in the on-demand video streaming app marketplace with an exact carbon copy of Netflix. Wondering how?
What is a Netflix clone script?
The Netflix clone is a replicated app developed on the models of the original Netflix app. With a Netflix clone app, you can become a part of the video streaming industry and offer video content for people over your platform. Developing a video streaming app from scratch is challenging.
Instead, you can opt for a ready-made Netflix app clone that is already available in the app development firms. You can save plenty of money and time by opting for a ready-made app. Many entrepreneurs opt for this type of app to get started with their business in no time.
Wrapping up,
This is the era where media have entered the digital age to keep people entertained. This is the reason why OTT platforms are increasing in great numbers. If you are really interested in the Netflix clone app development, you can start approaching the best app development companies to develop your robust mobile app.
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