How can i develop a website and application like YouTube and what would be its cost?

I hope you know something about youtube promotion because I have no information about htat but I'm sure that I need to develop my personal blog to earn more money from monetization. 

 YouTube being the prominent player has changed the video streaming & Sharing industry to the whole with hours of new content uploaded every minute. Youtube allows to upload videos in all the genres like Music Video, Web series, Vlogs, Short Movies etc.

 Before jumping into the details of making an app similar to youtube let us clear some basics first.

Some Stats around Youtube :

 With over2 billion users every month and1 billion hours of video streaming everyday. There are no competitor in sight. With around million monthly users Netflix stands on the second spot. i.e one fourth of youtube users.

Some of the Things & Features to consider before developing app like YouTube :

1. Expected average monthly user -Expected no. of Average monthly user of the application will help you in deciding how strong your backend should be? Only with a strong backend will you be able to handle heavy user inflow during weekends or holidays. If your service does not perform as per user expectation due to heavy user base during a particular time period then it would result in user dissatisfaction and can lead to a permanent user loss along with their influencer group.

2. Live Video Streaming Feature – A latest feature useful for the content creator to engage in a better way with its targeted audience is a must for a video sharing  & Streaming platform. This feature helps the platform as well as the content creator in developing a loyal fan base for both the sides.

 3. Video Recommendation - Based on the user history this is one of the most important feature to drive engagement. This feature works on complex algorithms which only an expert agency or organization can help you with. Considering the watch history of the user they should be suggested with a video of similar interest. This feature improves user engagement which will help us in our next step.

 4. Revenue Generation - A final motive for developing anything is how an organization would financially benefit in terms of increasing its revenue. So one of the major option is to help business in targeting a specific audience based on there demographics. so a video streaming platform can be useful to the user as well as the business who is paying the streaming platform to run video campaigns for a specific set of target audience. This feature too requires a complex algorithm.

If we consider the approximate cost range then it would be around $K - $K 

For better and in depth understanding of How to build an app like YouTube – Cost, Features, Business ModelI would like you to refer this blog.