Digital Streaming - The Future
Digital Streaming - The Future
If Covid did anything positive at all, then helping catapult the Digitisation of the world is one of it. And this has profoundly transformed the Media and Entertainment Industry, and streaming platforms are at the forefront of this massive change and success.
The streaming boom is expected to continue in the coming years – backed by the huge demand for video streaming.
According to Digital TV Research, global online TV episode and movie revenues could double between 2019 and 2025, from USD 83 to 167 billion1. Around USD 16 billion will be added this year.*
The most renowned segment in the streaming world is the Subscription based Video on Demand (SVOD) services where the big players like Netflix,Disney+, or Amazon Prime Video shines.
Digital TV Research expects global SVOD revenues to double over the next few years, and climb by USD 50 billion between 2019 and 2025, to a total of USD 98 billion.*
OTT platforms are favoured among the consumers just because of the simplicity of the whole experience. These are easy to subscribe, cancel, manage and also the massive library of content online which is available to watch at the consumers convenience of time, place and equipment is the biggest advantage of streaming platforms. Also the content hungry younger demographics have had a massive say on the growth of these platforms.
Netflix opened another floodgate of exclusive content when they launched their own Exclusive content “ House of cards” back in 2013. Competition between the titans in the streaming platforms is always good for the end consumers as the amount of tailor made exclusive content available on these platforms increase.
The more money spent on the content creation means the consumers are getting more technically and creatively brilliant masterpieces right to the living room. As more and more consumers now build a dedicated cinema room , they are not falling back on the experience factor at all, as this content can be enjoyed with the best ever visuals and ground shaking sound with the comfort of home. (Check out complete home theater packages)
The above graph shows the estimated content spent for 2020 by the different platforms.
The massive surge in online streaming not only helped the video streaming industry but also revamped the music industry. With the advent of music streaming platforms like Spotify and Apple Music the music streaming industry also went through a massive change in consumption preferences. Consumers are now very picky on what devices they prefer to consume their content as the amount of high fidelity music available is on the rise. The companies like SONOS and BLUESOUND have massively increased their bespoke streaming product solutions and again competition amongst the big players is a boon to the end customer. (Check out the new Sales on Bluesound) or if you are a SONOS fan check out the ONE SL thats on sale now.
The above chart shows the changes in the streaming platform since Covid-19.
With the ever changing technological advancements in the streaming industry, now all that's left for the customers is to choose how they want to enjoy this content.
Netflix and all major streaming services now deliver 4k Dolby Atmos content directly to your home, (check out our article on the top 7 Dolby atmos content you can watch on Netflix ) and if you have a kick-ass home cinema system, you can enjoy these like the way it was intended to be.
Overall, the long-term prospects remain bright for the streaming industry, despite the dire economic consequences of the Covid-19 crisis. The future of media is certainly streaming.
Sourced from :
1 Source: Digital TV Research, Global OTT TV and Video Forecasts, May 2020.
2 Source : Robeco.com.au July 2020