The movie streaming services market is full of representatives and the Amazon Prime video company is one of the biggest among them.
Is there a chance to create a successful streaming service like
Amazon Prime video? You never know until you try. In this article, we analyze how Prime video actually works as well as its business model to help you create something entirely new.
How does Amazon Prime video work?
Amazon Prime Video is a subscription-based service that provides its users with unlimited access to movies and TV series. In other words, users pay a monthly fee (amount of payment depends on their tariff plan) and they can access the entire Prime video library through a wide range of devices including TVs, smartphones, and computers.
The first month of using Prime video is free. After that, the subscription is automatically prolonged (it can be disabled).
The company adds new features to its service on a regular basis. Here is just a couple of them:
- Prime video offers you movies and series based on your preferences due to their recommendation algorithm;
- Users can create up to five different profiles within one account.
The recommendation algorithm works even better if you rate films. This helps to pick movies for users more precisely.
Talking about the feature with multiple profiles, it’s needed to tailor the experience for each user separately.
Amazon Prime video business model
If you want to compete with Prime video, there is a lot of work to do. You should be patient as it may take several years before your business will bring first profit.
The first thing to consider is the unique content. This is actually a key to successful movie streaming service. However, it also means you should get all the necessary licenses.
Then, think of monetization. You can follow the example of Amazon Prime video and use a subscription model with different tariff plans. This is probably the most reliable monetization model for streaming services. You can charge payments on a monthly or annual basis but don’t forget about the trial version. It’ll help users to get acquainted with your service. You can offer access to the full library or its part throughout the trial version.
Consider the following:
- Tariff plans for users;
- Automated subscription payments;
- Free trial version;
- Video advertising.
By the way, you have to implement the support of multiple currencies in the payment system of your service in order customer could pay by using their local currency.
MVP of an app like AmazonPrime video
Services like Amazon Prime video require a complicated backend to be able to process a lot of streaming data. Respectively, the final cost of such a service depends on the number of features. Let’s consider the key features of movie streaming app as additional ones can be added later.
If you want to build an MVP, it’s better to focus on one platform. However, in case your goal is to reach as many customers as possible — focus on several platforms. Which platform to choose depends on your target audience as well as the product itself.
A poorly design app can scare users and they simply won’t use it. So make sure your design is simple and clean.
Provide your users with several registration options. For example, via social networks and email.
A personal profile makes it possible for users to keep track of their favorite series and interact with content in general. It’s a good idea to allow users creating several profiles to manage their content.
Make a flexible search by genres, scores, etc.
Notifications should be useful. Talking about movie streaming service, they can notify about the new series release.
It’s impossible to create something like Prime video without features listed above. However, it’s also necessary to think of additional features in order to compete with companies like Prime video.
For example, profiles that can be seen by other users/friends, reviews on movies, etc.
An opportunity to watch certain TV shows and events.
It’s important to provide users with an opportunity to download a piece of content he/she wants to. That’s because there are a lot of regions with the poor internet connection and the constant need of internet for using your service may harm the overall user experience.
Quality of video
Prime video gives its users an opportunity to choose between SD and HD quality. In fact, the price on subscription depends on the quality of video their users want to get.
Cost of developing an app like Prime videos
So, how much money does it take to create an app? As we mentioned, the price of development largely depends on the number of features and it’s impossible to calculate the exact price knowing nothing about a project.
However, we’ve calculated the approximate price for the app like prime video and you can see the results underneath.