Before You Build a Live Streaming App: Insights You Should Know

Dmitrii Sidorov

Dmitrii Sidorov

Head of Media & Entertainment Technologies

Media & Entertainment
Sep 12, 2022
8 minutes to read
views
  1. Live streaming apps defined
  2. Sorts of live streaming apps to build
  3. Steps to take to build a live streaming app
  4. Checklist to build video streaming apps. The MVP context
  5. Conclusion
  6. Andersen as a vendor to create video streaming apps

Content consumption patterns undergo significant changes. In the capacity of live streaming app development professionals, we track them closely, both from the outside and from within. As attentive observers and M&E software engineers, being familiar with marketing technology trends is a key prerequisite for being able to join any initiative to build a live streaming app of quality.

The global media landscape is experiencing rapid and significant transformations. The factors fueling the growth of the global video streaming market include:

  • Expansion of rapid yet perfectly affordable internet coverage;
  • The widespread availability of portable mobile devices and smart TVs;
  • People’s openness and willingness to enjoy ever-increasing volumes of online videos;
  • Advanced personalization algorithms, including AI-driven systems, catering to individuals’ taste;
  • Lower entry barriers for those who not only want to watch videos, but also to create and promote live videos of various genres.

In summary, devices and web access are cheap. Target audiences have a lot of free time. Content production techniques are accessible to previously unserved groups. All three key elements of the equation, i.e. consumers, producers, and media, are ready to go.

As a result, we are seeing enormous upward trends and still seemingly unlimited potential. Companies clearly intend to continue to build and upgrade their apps for streaming.

Some basics concerning terms. Since various phenomena in the streaming domain frequently overlap, we would propose the following lines of delimitation.

  1. OTT, standing for “over-the-top,” is an umbrella definition. It describes video content delivered to audiences bypassing customary TV-service providers, i.e. both satellite- and cable-based market players. Some might be “live,” some might be “pre-recorded” and published only afterwards.
  2. VOD, a sub-branch of the OTT world, denotes “video-on-demand.” This approach implies showing content deliberately requested and consumed on the web by viewers.

This subset knows two basic underlying models:

  • SVOD, i.e. subscription-based “video-on-demand” offerings, when one pays for products on a regular basis;
  • AVOD, i.e. ad-based video-on-demand offerings, when one does not have to pay, but must watch ads to keep on enjoying content.
  1. Live streaming involves the real-time broadcasting of videos over the internet, allowing people to watch events as they happen. Frequently, archives are then stored for subsequent consumption, but sometimes they are not.

When it comes to monetization techniques, there are plenty of them, often functioning concurrently:

  • Ad-pertaining revenue, comprising pre-rolls, mid-rolls and post-rolls;
  • Subscriptions, often implying an entire range of tiers;
  • Tips and donations, collected both during live sessions and in the background.

Here are some versatile yet universally illustrative milestones for the industry in general:

  • The anticipated OTT revenue is projected to hit $215 billion by 2029, surpassing twice the amount reported in 2019. The market has undergone significant expansion in recent years (back in 2010 it was “only” $6 billion);
  • During Q2 of 2023, for instance, live streaming was viewed by 28% of the global internet audience;
  • Live streaming currently constitutes 23% of the world's viewing hours and encompasses 17% of total internet data traffic.

Live streaming apps defined

In a nutshell, these are apps enabling their respective audiences to consume video content, via various WWW-connected devices, at the very moment of time when those videos are recorded and broadcast by streamers. Simultaneously, after a streaming session is over, viewers can often still access it.

The technology is extremely useful and in high demand for:

  • Reporting n