The video streaming technology gained a lot of popularity over the past few years completely overshadowing the television industry. Many companies are willing to hop on and build a streaming platform, however, the first question that arises is how much does it cost to create a streaming app?
The answer is quite a bit, to be honest. Although, as we have said, streaming skyrocketed in popularity, and it is predicted that it will become even more widespread in the coming years, so it still promises to bring hefty profits. It’s simply very convenient for the users, you can pretty much watch whatever you want, wherever you want, whenever you want.
With that being said, let’s dive in and see what some of the potential costs of developing such an app could be.
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1. Video Streaming Development Services
Building a video streaming app is no easy task. It’s very difficult, if not impossible to do it all by yourself. It would be best to pass the development process down to companies that are specialized in building apps.
However, we all know that going to a restaurant will always be more expensive than cooking your own food. Same goes here, in most countries development companies charge around 100$ an hour, give or take.
But, if you’re looking to cut your costs a bit there’s the option of working with a company that’s located in a third-world country. They ask for around 50$ or less, and you are going to end up with the same if not better quality than first-world countries will provide you.
2. After Launch Expenses
After you’ve got the main application, fresh from the oven, you’ll now need people to market it, run it and maintain it. Professionals like designers, QA specialists or project managers are a must when it comes to pretty much any app developer.
A big team means a lot of money to be spent. However, if you’re looking to save some cash and time, you might take into consideration outsourcing. There two different ways to outsource: partnering up with an outsourcing agency, or looking for people to hire through all sorts of freelance sites.
I’d personally opt for working with an outsourcing agency. It basically saves you a lot of time by not having to search and select potential employees.
3. Development Time
If you actually choose to not collaborate with a video streaming development company and decide to gather a team and create your own project from top to bottom, you’ll most likely be able to save a bit of money, but it will consume you a lot of time.
The whole process of developing an app, including things like product design, project management, backend development, Android/iOS development, and quality assurance will most likely set you back $100.000.
When you think about it, developing a streaming app is actually worth it. It’s only going to rise up in popularity, so it might be able to end up with hefty profits in a long run. Just make sure to bring something unique to the market.