- Must-have features of video creation and sharing apps
- Commonly used technology stack for video creation & sharing applications
- Factors that impact the cost of video creation app
- How much does video creation and video sharing app development cost?
- Tips to reduce the costs of video creation app development
- Making money from your video creation and sharing application
- Closing thoughts
Undoubtedly, the coronavirus pandemic-driven lockdown has given birth to a fresh batch of video content creators. The time-crunch-based gap that kept TikTok, Instagram, and Youtube 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 direct towards two events happening at the background:
- There is a growing need for video content.
- The development of platforms offering the facility to create and share videos is on the rise.
In this article, we will look into video app development and get an answer to the price estimation by the end of this blog. On average, the cost to build a video-sharing app MVP version ranges from $80,000 to $100,000, depending on various factors.
Before we move forward with the other information, let us look into a few key statistics related to online video views and ad spending.
Although the statistics don’t clearly define the source where people are viewing online videos, the rise in apps like TikTok, Dubsmash, Triller, etc., is hard to ignore as a significant contributor behind the growing count of minutes and money spent on online videos.
Add to these statistics the global widespread of online video creation and sharing apps and you will have a goldmine product in your hand (only when it is executed perfectly by a skilled video app development company).
Now, let us give you a sneak peek of what a typical global video creation app reach looks like by keeping TikTok app statistics 2022 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 must-have features that come together to define video-sharing app development cost.
Before we hop on to features, you might also want to explore the comprehensive guide to OTT platform development.
Must-have features of video creation and sharing apps
With businesses and individuals increasingly relying on video content, the cost of video creation and sharing apps will increase as you add more features. So, to keep the development costs down, you must be very strategic about which features you include in your app. Some of the must-have features in video creation and sharing app include:
Unlike the apps that don’t need stringent signup and sign-in process, a video creation app has a well-strategized login option at the center of it. Many times, video-sharing apps become a sweet spot for hackers and malicious parties that uses users’ data and images for their own malicious reasons.
For the same reason, it is very important to integrate multi-level authentication system in the application to promote a safe user experience. This is also one of the best app onboarding practices that businesses excelling in media and entertainment app development follow.
Offer your users the ability to edit their profile and add personal details such as their name, location, and profile picture. This will help users to find and connect with each other.
The app should allow users to easily create videos by recording footage from their camera or importing existing videos from their device. The app should also offer a range of editing tools to help users create professional-looking videos. This will not only make it easy to create videos but also ensure that the videos are of high quality.
One of the core features of video app development is the facility of uploading a video on the application to edit and share within the network.
An upgraded version of the video upload feature that apps similar to TikTok have is the feature of capturing video from within the application. By giving the app 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 TikTok. If you have read our FaceApp development cost article, you would also remember how adding effects and filters impact video creation app development cost. These apps are developed using the AI functionality that allows users to add effects and filters, making them look different.
One of the key factors in video sharing app development cost 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 turn 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 considerable role in improving the app engagement on iOS and Android apps. What helps in advancing this set of features is the integration with other applications like Facebook, Instagram, WhatsApp, direct messages, etc.
The next in our list of features that impact the video sharing app development cost is the real-time analytics feature. The facility allows users to view the engagement their video has gathered from other users in the video-sharing apps.
The last in our list of MVP features when developing video app or 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.
Also this provides a real-time insight into the videos the people they follow have uploaded.
Apart from features, the tech stack also plays a significant role in determining the cost of video-sharing app development. So, let’s look at the tech stack for the same.
Commonly used technology stack for video creation & sharing applications
Undoubtedly, features and technology stack remains crucial elements of an expansive range of applications type. The same remains for the video-sharing app development sector.
The choice of the features and technology stack that you make in case of video sharing app development will also play a significant role in deciding the success of your video sharing app.
Now that we’ve looked into must-have features and tech stack that can impact the development cost of a video creation app, let’s look at the factors that will affect the cost of on-demand video app development.
Factors that impact the cost of video creation app
There is no doubt that developing a video-sharing app can be quite costly. However, the cost will vary depending on a number of factors such as the app complexity, the platform you want to develop for, the team you hire, and more.
Some of the key factors that will impact the cost to create video sharing app include:
There are numerous elements that determine app complexity, like tech stack, features, animations, etc. More complex apps will naturally be more expensive to develop than simpler ones. But, if you want to develop a successful app, you must ensure that it has all the features that users want and expect. Also, keep in mind that complex features will take more time to develop and test, which will impact the overall cost of the project.
There are two main platforms that apps can be developed for – iOS and Android. To reach the largest possible audience, you will need to build your app for both platforms. However, this will cost more than developing just one platform. Also, if you want to develop a native app (an app developed specifically for one platform), you will need to hire two separate teams – one for each platform. This will also impact the overall cost of on-demand video app development.
Usually, the team composition for a video creation and sharing app will include a project manager, UX/UI designer, front-end developer, back-end developer, and quality assurance engineer. The cost of hiring each team member will vary depending on their location, skillset, and experience. For example, hiring a team in the United States will obviously be more expensive than hiring a team in Ukraine or Australia.
Design is a very important part and can have a major impact on the overall development cost of video creation and sharing apps. If you want your app to have a custom design, you will need to hire a professional UX/UI designer. This will cost more than using a pre-made template or theme. But it’s always recommended to hire a designer to create a unique and unforgettable user experience because this is what will set your app apart from the competition.
The time it takes to develop an app will impact the overall cost of the project. So, if you want to keep the costs down, you will need to be very efficient in your development process. Make sure you have a clear and concise plan from the beginning and that everyone in the team knows their tasks. Also, use agile development methods to ensure that the project stays on track and that features are delivered on time.
CCPA and GDPR compliance
If you plan to develop a video creation and sharing app for users, you must ensure that your app complies with CCPA and GDPR. These are two important data privacy laws that will impact the video-sharing app development cost.
As a business owner, your work doesn’t end once the app is launched. You will need to continue to invest in app maintenance and updates to ensure that the app remains relevant and useful to users. This will obviously incur some additional costs, but it’s important to keep in mind that app maintenance is a necessary part of running a successful business.
To sum it up, apart from the above-discussed factors, features and tech stack, there are a few hidden costs as well that will add up to the final cost estimation. These includes
These include the costs of setting up your business, marketing your app, and other miscellaneous expenses that are not directly related to the app’s development.
These include the costs of hosting your app, maintaining it, and making sure that it is always up and running.
These are the costs that you will need to pay regularly to keep your app running. They include the costs of hosting, maintaining, and updating your app.
Now, with the factors influencing the cost of video creation and sharing app covered, let us talk about numbers.
How much does video creation and video sharing app development cost?
The MVP version can range somewhere between $80,000 to $100,000, presuming that 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.
Although the range is the base estimate, it can rise with the addition of technologies of AI to make it more personalized and blockchain for taking care of the in-app purchases. But if you are strategic about your development process, you can keep the costs down and still create a high-quality app that users will love.
Tips to reduce the costs of video creation app development
As a business owner, you are always looking for ways to reduce costs and save money. And when it comes to app development, there are a few things you can do to reduce the development costs.
Choose the right development partner
Development costs can quickly spiral out of control if the wrong development partner is chosen. A good development partner will be able to provide a clear cost estimation from the start and will have a solid track record of delivering projects on time and within budget. Also, they will be transparent in their pricing, so there are no hidden costs that come as a surprise later down the line.
Follow MVP approach
If you want to reduce the development costs, you can take an MVP (Minimum Viable Product) approach. This means launching your app with only the essential features, and then adding new features as you go. This is a great way to reduce costs, as you are only paying for the absolutely necessary features.
Affordable ongoing maintenance
As we mentioned earlier, app maintenance is a crucial part of running a successful business. But, you can reduce the costs of app maintenance by choosing a development partner that offers affordable ongoing maintenance packages. This way, you will only pay for the maintenance that you need, and you won’t have to worry about unexpected costs down the line.
Use existing solutions
If you want to reduce development costs, you can use existing solutions whenever possible. This means using existing libraries, frameworks, and platforms to build your app. This is a great way to save time and money, as you won’t have to pay for developing these features from scratch.
Create cross-platform app
If you want your app to be available on multiple platforms, you can go with cross-platform frameworks to develop an app. This means that your app will be developed for multiple platforms at the same time, which will save you time and money in the long run.
However, to get an accurate estimate, it is best to consult with an entertainment app development company that has varied experience in building similar apps. They will be able to assess your project requirements and give you a realistic quote.
Now, 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 it costs to develop an app.
Making 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, influencer promotion, etc. The models that are most commonly used are:
You can offer your users filters, tickets, text styles, and 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 of their year-over-year revenue!
For placing their ads on a platform that 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.
Another option is to charge users a monthly or yearly subscription fee to use your application’s premium features like HD video quality or ad-free viewing. This is a great way to generate recurring revenue, but you will need to ensure that your app offers enough value to justify the price.
Another way to make money from your video app is by charging users a pay-per-view fee to watch certain videos. This could be something like a behind-the-scenes look at a popular event or an exclusive interview with a well-known celebrity.
You can also generate revenue from your app by selling sponsorships. This involves finding companies willing to pay you to feature their products or services in your app.
As you can see, there are a number of different ways you can generate revenue from your video creation and sharing app. It’s important to choose the right monetization strategy for your app so that you can make money without alienating your users.
Creating a video-sharing app can be a complex and costly process, but with careful planning and execution, it can be a highly successful and profitable venture.
Moreover, collaborating with a company that offers entertainment app development services can help businesses turn app ideas into reality. Get in touch with our experts to know more.
Q. How to create a video-sharing app?
A. To create a video-sharing app, businesses need to focus on the following key aspects:
- User-friendly interface and easy navigation
- Ability to search and discover new content
- Personalized recommendations
- Social media integration
- Video quality and format
- User-generated content
- Copyright issues
- Security and privacy concerns
Creating a video-sharing app can be a complex and costly undertaking. But, with careful planning and execution, it can be a highly successful and profitable venture.
Q. How do I set up a video-sharing app?
A. Follow these steps to set up a video-sharing app:
- Choose platform – You’ll need to decide whether to develop a native app or a web app. Native apps are developed specifically for one platform, like iOS or Android. Web apps are not platform-specific and can be accessed from any device with an internet connection.
- Select features – Decide which features you want to include in your app. Some popular features for video-sharing apps include the ability to search and discover new content, personalize recommendations, social media integration, and HD video quality.
- Design your user interface – Create a user interface that is easy to use and navigate. Remember, users will be watching videos on your app, so the last thing you want is for them to get frustrated with a complicated interface.
- Develop your app – Once you have all of your designs and features finalized, it’s time to start development. If you’re not a developer yourself, you’ll need to hire someone to build your app for you.
- Launch your app – Once you’ve fixed all the bugs, it’s time to launch your app to the public. Submit your app to the Google Play or App store and promote it to get users to download and use it.
- Test your app – Before you launch your app, it’s important to test it to make sure everything is working properly. Launch your app and get users’ feedback to ensure there are no bugs or glitches.
- Monetize your app – There are several ways you can monetize your video-sharing app. You can charge users a monthly or yearly subscription fee, run in-app ads, or sell sponsorships
Q. How long does it take to develop a video-sharing app?
A. The development time for a video-sharing app depends on a number of factors, including the complexity of the app, the number of features included, and the experience of the development team. On average, it takes 3-4 months to develop an MVP version of the app but the timing may vary as per the app requirements.
Q. How much does it cost to build an app like TikTok?
A. The cost of developing an app like TikTok depends on a number of factors, such as the features, design, complexity, platform, location the development team and more. Generally, it costs between $80,000 and $100,000. The final cost will depend on the specific requirements of your app.