How to Create a Live Video Streaming Website Like Twitch and Get Your Revenue

You will have to think about the appropriate hosting platform, Content Delivery Network, video streaming protocol and other components. Pre-recorded and on-demand video streaming have strong potential in such extremely vital fields as education, entertainment, mass media, e-commerce, healthcare, sports, and others. Nevertheless, more than 90% of consumers agree that live streaming videos affect the brand with their engaging and credible power. So, creating a video streaming website for your brand is a modern approach. Hybrid monetization models are now becoming more common for video streaming business elevation. Combining pay-per-view models with some alluring sponsorships can add more value to your existing business model.

In addition to these models, streaming services can also offer discounts such as student discounts or free trials. Businesses can also use different types of advertisements, including second ads, interactive ads, etc. The hybrid model integrates multiple revenue-generating models to improve ROI. It allows users to experience video content before being asked to pay.

Estimated Cost of Developing MVP Features for OTT Website

In recent years, OTT platforms for streaming video have experienced tremendous development. Through the three business models of SVOD(subscription-based video on demand), AVOD(advertising-based video on demand) & TVOD(transaction-based video on demand). Video streaming website like Netflix requires careful planning and considering the business model to follow. We think it is reasonable to divide the steps into business and development ones. And we will start with the essential business steps that can help you create a video streaming app.

Thus, it’s hard to tell how much the development is going to cost in your particular case. What we can do, however, is provide you with approximate numbers. https://globalcloudteam.com/ For example, if you were to hire software developers for your startup from Eastern Europe, the average software development hourly rate there is $55.

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If you want to establish a website with a live streaming focus, having a .stream URL is an excellent way to achieve that objective. Next, you must register your domain name with a web hosting service. In addition, many web-hosting services now offer a lot of different top-level domain options for your website, which are a great and innovative way to communicate what it’s about. With the TVOD or pay-per-view model , you charge a one-time fee per transaction.

It is essential to note this drawback while learning how to start a business of online video streaming. Moreover, the entertainment video streaming platform market is skyrocketing right now. Back-end architecture can be based on Ruby programming language , PostgreSQL database server, Nginx web servers, and AWS as a cloud platform. These days, it is not enough just to know how to make a social media website or how to make a video streaming website from a technical point of view. It is equally as important to make users aware of your solution. By promoting your video streaming website, you will be able to find your audience.

Set the Requirements to Create a List of Features

Besides, you can upload and manage any number of videos and schedule it for hassle-free video delivery. Let’s dig deep into what VPlayed offers and understand if it could be the perfect fit for your business. In addition, you can also consider hybrid models, catch-up TV, SSAI, and CSAIto harness maximum return on investment. The functionalities needed to start a streaming website, like Netflix, varies depending on the website’s needs that reflect your brand objectives.

To begin with, it’s great to transfer the heavy lifting work to a professional OTT platform provider. But, before getting into the business strategy of Netflix, you need to be clear about the business model that Netflix follows. For context, Netflix generated $31.6 billion in revenue in 2022 alone with a net income of $4.4 billion. The streaming giant’s net worth has skyrocketed from $3.58 Billion in 2010 to $140.36B . Being able to change something and have a preview is a benefit for your platform. Plus, end-users will be satisfied with the information management option for sure.

The Reasons to Launch Video Streaming

Before we could move on further, let’s look into some of the forecasted stats defining on creating movie streaming service’s worth. Earlier in this article, we discussed the cost of developing MVP and advanced features. The amount summed up to a range of $60,000 to $120,000 when a video streaming website is developed from scratch.