Dramatic technological advancements, including the increasing implementation of AI-powered solutions, the cloud, and blockchain, are changing the way in which we acquire information and entertain ourselves. A spectacular 80% of people would actually prefer to consume content from live videos rather than from blogs. Media and entertainment firms, healthcare companies, marketing agencies, and other businesses increasingly approach their audiences by broadcasting videos in real-time. If you are considering the possibility of boosting sales and making profits from this current trend, you might be interested in reading this piece. In it, a live streaming app development company Andersen provides insights on promising solutions and trends and suggests tips on how to create a live streaming app.
What is a live streaming app?
Briefly, such solutions allow audiences to view video content on their internet-connected devices at the same time that it is recorded and broadcast by streamers. The technology comes in useful when covering the news and various events, following gamers, promoting businesses, holding meetings, etc. The most prominent platforms providing for these activities are giants such as YouTube and Facebook Live, Twitch, which is intended for following gamers, Livestream, Instagram Live, and also comparative newcomers such as TikTok and Periscope that have been experiencing dizzying rises.
According to Grand View Research, the live streaming market size worldwide is currently demonstrating an impressive annual growth of 21% and surpassed $59 billion in 2021. Such an increase is stimulated by the continuing excitement for social media, as well as substantially increased quality and security ensured by recent technologies.
Types of live streaming solutions
The majority of current solutions fall into one of the following categories:
- Live broadcasting apps allow for viewing videos that are currently being recorded elsewhere by streamers. Twitch, which is in active use by game lovers, renowned brands such as Facebook Live, Livestream, and relatively recent Periscope fall under this group.
- Video-on-demand solutions, on the contrary, give access to content at any time with the possibility to pause and rewind it. The service is often subscription-based and is provided by such platforms as Netflix, which is the world’s largest solution of its kind, VPlayed, Hulu, Amazon Prime Video, etc.
- Apps for audio streaming enable users to listen to audio directly on the platform without bothering with downloading it. Spotify, Pandora, Apple Music, and other outstanding solutions belong to this group.
- Apps with TV broadcasting features provide online user access to TV channels. This capability is often embedded into VOD solutions, such as in the case of Hulu, YouTube TV, etc.
How to build a live streaming app?
To build a well-designed solution that will be a success, consider taking the following steps.
Start out by understanding current user needs
This can be done by conducting market research, including interviews and surveys, and outlining profiles of your solution’s eventual users. By knowing the audience’s preferences, needs, and pain points, you’ll occupy the market niche that will bring you the highest profits.
Consider monetizing your product
It is no secret that the success of live streaming solutions is largely built on choosing the right monetization strategy or, which is more often the case, combining several strategies. The most frequent options are launching a paid app, relying on the freemium business model, or having in-app advertising in place. The choice depends on the solution type to a great extent, e.g. monetizing an app for promoting a healthy lifestyle will require a different approach than a game streaming platform.
Choose a reliable development company
The vendor should be able not only to create an outstanding solution from scratch but also to maintain it after the launch. Note that professional live streaming solution companies normally showcase extensive portfolios with client feedback on their websites and are highly rated on trustworthy market review platforms such as Clutch, GoodFirms, etc.
Elicit and document app requirements
Let your vendor’s professional Business Analysts draw up a Software Requirements Specification, Vision and Scope document, and other deliverables needed to thoroughly plan the solution’s architecture and design. Be mindful of such particularities as the app’s bandwidth capabilities, the need for cloud storage, the choice of a content delivery network, and the most suitable platform, i.e. opting for an Android-based, iOS-based, or cross-platform solution.
Draw up intuitive and eye-catching UI/UX design
The vendor’s skillful designers will deliver schematic wireframes and illustrative mockups that will allow for successful and scalable streaming app development. A responsive and inimitable interface where all the elements are harmoniously pla