Netflix is undoubtedly the king of Over-the-Top (OTT) content platforms. It got the early-mover advantage after launching business operations in August 1997. The Netflix app has completely replaced theatres amidst the severe Covid-19 pandemic.
How the Netflix OTT platform struck gold in 2021?
The American entertainment platform earned a whopping $7.16 billion in revenue in the first 3 months of 2021. Paid subscribers grew by a humongous 3.98 million. Netflix’s overall income grew by 24% from last year and it plans to spend a mind-boggling $17 billion on content in 2021.
Above all, it signed a lucrative production deal with popular American singer Jennifer Lopez. Netflix and Nuyorican Productions owned by Lopez will create diverse content featuring female actors along with small-time filmmakers and writers.
Entrepreneurs can lead the online entertainment industry by acquiring a customized Netflix clone script made by a skilled app development company.
Experienced developers create easy-to-use Android and iOS apps for users. A modern web panel is available for updating the global audience about the latest features, new releases, and software updates. An advanced admin dashboard is present to monitor the day-to-day operations.
What are the various sources of revenue from a video streaming app like Netflix?
Subscription plans - There are 4 different monthly subscriptions (Basic, Mobile, Premium, and Standard) available for users on the Netflix clone script. Each plan has a different video quality (Good, Better, and Best) and numerous video resolutions (480p, 1080p, and 4K+HDR).
People can watch entertaining movies and TV series 24x7 on their computer, laptop, tablet, and smartphone after buying any subscription plan. The revenue earned by the Netflix clone app is categorized into 3 parts, Domestic Streaming, International Streaming, and Domestic DVD.
Content licensing fees - A certain fee is charged by the video streaming app like Netflix for live streaming content created by directors and producers across the world. It also licenses original content (part of Netflix Originals) to other media outlets.
Publishing of targeted ads - Entrepreneurs can get revenue from every click by posting strategic advertisements on social media networks. Promotional campaigns are done throughout the year as new movies keep releasing continuously on the OTT platform.
Other streams of revenue - A video streaming app like Netflix also mints money from DVD postage fees and transaction processing charges.
Wrapping Up
Netflix is vastly expanding its business operations by accumulating a vast content library. 2021 is a bright year for the American OTT player as people prefer to sit at home and experience their desired entertainment. Hence, entrepreneurs can make a big mark in the thriving OTT space by initiating Netflix clone app development with dedicated assistance from a reputed app development company.
