STREAMING TRENDS WHICH ARE RELEVANT IN 2021-2022
STREAMING TRENDS WHICH ARE RELEVANT IN 2021-2022
Over the past two years, the popularity of streaming services has been growing, one of the reasons for the growth is the pandemic. When people stayed at home, they started looking for new ways to be distracted and entertained. Watching videos, series and movies through an Internet-connected device
Over the past two years, the popularity of streaming services has been growing, one of the reasons for the growth is the pandemic. When people stayed at home, they started looking for new ways to be distracted and entertained. Watching videos, series and movies through an Internet-connected device (TV, smartphone or tablet) was an activity that allowed them to “get away” from the disturbing reality. In general, the sphere is growing, developing and attracting the attention of marketers. Today, with the help of data from Criteo and the mpvplayer service, we talk about trends.
OTT is on the rise
Two-thirds of respondents said they spend more than 5 hours a week watching paid content, and more than half spend the same amount of time on free services. At the same time, despite the fact that restrictions are gradually being removed, users will still continue to do so. About a third of the mpvplayer.com respondents said this.
Actually, what we mentioned from the very beginning. OTT (over-the-top) - in the general sense, streaming video over the Internet. The industry is projected to grow to $1.039 trillion by 2027. For comparison, OTT was valued at $121 billion in 2019.
According to data cited by PwC, the OTT market will grow by an average of 26% per year until 2024 and will reach $711 million. Quoting PwC, this “will allow to confidently enter the twenty largest markets in the world.” The subscription model is spreading more and more - by 2024 it will grow to 87%, and revenues will amount to $ 620 million.
The pandemic had a great impact on the development of streaming services, we can safely say that it has become a growth driver. Views of all types of video have increased in 2020, according to Criteo, with the majority (3 out of 5) using paid streaming services.
Two-thirds of respondents said they spend more than 5 hours a week watching paid content, and more than half spend the same amount of time on free services. At the same time, despite the fact that restrictions are gradually being removed, users will still continue to do so. About a third of the respondents said this.
5G is driving growth
It is clear that the faster the Internet, the easier and more convenient it is to consume streaming content. Dacast, citing PwC, mentions that 29% of users are willing to pay more for mobile Internet if it gives them the opportunity to watch videos faster and in better quality. And this is 2018 data! Most likely, the actual poll would show big numbers.
Availability of 4K and VR
Most likely, 4K video and VR will become a trend in the streaming industry in the next couple of years. The explanation for this is simple - the faster the Internet, the more accessible the video in a new quality and with new technologies. And since 5G will provide this speed in the future, the quality will improve.