The coronavirus pandemic driven lockdown has given birth to a fresh batch of video content creators. The time-crunch based gap that kept TikTok users from being active on the platform was eradicated from the picture once the world went into social isolation.
The fact that the entire world is seemingly creating and publishing videos directs towards two events happening in the background: A. there is a growing need for video content and B. the development of platforms offering the facility to create and share videos are on a rise.
In this article, we are going to look into point B – on the front of how can you, an app entrepreneur, can become a part of the flourishing sector at the back of your video creation app idea. And how much would it cost to build a video creation and sharing app like TikTok.
Table of content
- Must-have Features of Video Creation and Sharing Applications
- The Commonly Used Technology Stack for Video Creation & Sharing Applications
- Design Principles That Elevate Video-based Media App Development
- How Much Does Video Creation and Video Sharing App Development Cost
- How to Make Money From Your Video Creation and Sharing Application
Before we move on to giving you all the information you need to get started with the process and technicalities of video creation and sharing application, let us give you some statistics about online videos views and ad spend. We believe these might act as a catalyst for you to make a move – in case you are still on the fence.
Although the statistics don’t clearly define the source where people are viewing online videos, the rise in app like TikTok, Dubsmash, Triller, etc. is hard to ignore as a major contributor behind the growing count of minutes and money spent on online video.
Add to these statistics the global widespread of online video creation and sharing applications and you will have a goldmine product in hand (only when it is executed perfectly by a skilled entertainment app development company). Let us give you a sneak peek of what a typical global video creation app reach looks like by keeping TikTok app statistics 2020 at the center focus.
Up until this point, I am sure you must have been sold on the idea of starting a video creation app business. What lies next is looking into the different factors that come together to define the cost of developing app like TikTok and Instagram Reels.
Let us look into the first factor of video creation and sharing app development cost.
Must-have Features of Video Creation and Sharing Applications
Unlike the apps that don’t need a stringent sign up and sign in process, a video creation app has a well-strategized login option at the center of it. Many-a-times, video sharing apps become a sweet spot for hackers and malicious parties who use users’ data and images for their own malicious reasons.
For the same reason, it is very important to integrate multi-level authentication features in the application to promote a safe user experience. This is also one of the best app onboarding practices that developers excelling in media and entertainment app development follows.
One of the core features of video creation app development is the facility of uploading a video on the application to then edit and share within the network.
An upgraded version of video upload feature that the apps similar to tik tok have is the feature of capturing video from within the application. By giving the app an access to use the device’s camera and microphone, you can make your users record the video in real-time.
Your video sharing app should come with the functionality of video editing as well. This would enable users to put text, add music, change lighting, alter the orientation, background etc. inside the application.
Effects and Filters
The once experimentative feature has now become one of the must-have features of apps similar to tik tok. If you recall our FaceApp development cost article, you would also remember how adding effects and filters have an impact on the video creation app development cost. Developed using the functionality of AI, the app gives users the ability to add effects, filters making them look different.
One of the key video sharing app development cost factors is the duet functionality. Popularized mainly by TikTok, the feature enables users to club video clips of other users with their videos. They can even collaborate with other users and enact songs or movie dialogue within the application, which in turns have a role to play in the video creation app development cost.
Shares and Likes
What makes the process of video sharing app development truly social is the like, share, and comment feature. The feature single-handedly plays a huge role in improving the app engagement on iOS and Android apps. What helps in advancing this set of features is integration with other applications like Facebook, Instagram, WhatsApp, direct messages, etc.
The next in our list of features that impact the cost to build app like tiktok is the real-time analytics feature. The facility gives users the ability to view the engagement that their video has gathered from the other users in the application.
The last in our list of MVP features when developing an application like TikTok and similar apps is an efficient push notification strategy. It can be used to make users re-engage with the application while keeping them updated on how their followers are responding to their videos while having a real-time insight into the videos the people they follow have uploaded.
With the first factor answering how much does it cost to make an app in the video creation & sharing app now addressed, let us look into the second factor – Technology Stack.
The Commonly Used Technology Stack for Video Creation & Sharing Applications
Technology stack remains the crucial element of an expansive range of applications type. The same remains for the entertainment app development sector. The choice of technology stack that you make in case of video creation and sharing app development will also play a major role in deciding the success of your offering in addition to the overall estimate of the cost to build a video sharing app.
Design Principles That Elevate Video-based Media App Development
App design plays a fractional role in the mobile app development cost. Now when we talk about an application that is designed to perform several multi-events in a limited span of time, the design efforts come all the more on the forefront.
Here are the different principles which define the mobile app design cost that is usually charged for creating video creation and sharing apps.
- Interaction Design – a minimal user interface which enables users to interact with all the different elements on the app screen.
- Low-learning Curve – in addition to keeping the user interface minimal, it also helps to offer dialogue navigation for easy user onboarding.
- Time-saving Micro-interactions – not giving the search option in the first go can be a good example of this. By saving the search time, apps can save time and keep the casual scrollers immersed in the application. Functionalities like double tapping for like can also be a good example.
These design principles can be aligned with what TikTok follows. Although we always advise on making your own design chart, in cases where clients are running low on launch time, they also tend to take inspiration from other famous applications – something that can be justified with some extra elements or new features.
With this, we have seen all – the market of video creation and sharing applications, features set and tech stack that makes successful applications, and the design principles which are relied on for immersive app experiences. Now, with the factors influencing the video creation and sharing mobile app development cost covered, let us talk numbers.
How Much Does Video Creation and Video Sharing App Development Cost
The answer to how much does it cost to make an app irrespective of app type is the same: features, technologies, and the complexity of design.
Presuming you are also going to go with the features and tech stack that we mentioned above and are looking to create apps on similar design principles, the MVP cost can lie somewhere between $80,000 to $100,000.
Although the range is the base estimate, it can rise with the addition of technologies of AI for making it more personalized and Blockchain for taking care of the in-app purchase
At this point, what is left is to get started, which needs you to cover just 1 more step – getting in touch with our experts who would hand-hold you throughout the process. Before we finish the article, let us look into one last entrepreneur-focused section: how to keep the outcome greater from the answer of how much does it cost to develop an app.
How to Make Money From Your Video Creation and Sharing Application
Although there are multiple ways video creation apps can plan their strategies around how much money can their app earn, like Subscription and Influencer Promotion, etc. The models that are most commonly used are:
1. In-App purchase
You can offer your users filters, tickets, text styles, other pro editing features through the mode of in-app purchases. Wondering the effectiveness? In-app purchases got TikTok 275% in users’ spending. This was approximately 3.75x pf their year-over-year revenue!
For placing their ads on a platform which is designed to be visited by millions on an everyday basis, there’s hardly a brand that will shy away from paying a substantial amount.
You can also integrate a subscription-based model, where you can close some features for paid users or charge influencers/ brands for high visibility placement in the app.
strategies your digital product..