Trends Shaping Global OTT Streaming Market: 2022 And Beyond
September 1, 2022 - 11 min read
September 1, 2022 - 11 min read
The OTT platform has boomed ever since it first entered the market. Adding further, OTT apps can stream content without the use of a cable box.
This establishes an unstoppable force for content owners, distributors & brands where they can have combined scalability with traditional pay-TV.
OTT apps combine the reach and power of traditional pay TV. The flexibility of the internet creates an unstoppable force, & has opened up opportunities for content creators, distributors, and brands everywhere.
Today this immersive platform has garnered more interest than traditional viewing habits. That’s because this trend solely depends on bringing up newness in services offered by over-the-top content publishers which always helps them to taste success!
So, let’s review them and see what’s in store for you!
According to OMDIA's Global Trends report, much of the future growth of online video subscriptions will come from countries dominated by mobile broadband connections.
Although initial success has been based on fixed broadband connections to laptops and connected TV sets, many more future viewers will be using smartphones and tablets.
This is because growth in mature fixed broadband markets is now saturated. Therefore, developing countries where fixed broadband is not ubiquitous are where the most significant growth will happen. Read more on The Fast Mode.
According to eMarketer, forecasted TV viewing time in 2023 will continue to decline. In 2021, the average viewing time of TV was 3 hours and 17 minutes, where it is estimated to backslide to about 2 hours and 51 minutes in 2023.
2020, in particular, was an anomaly of a year for TV, where people spent more time watching TV news about the pandemic and US elections - increasing the amount of time spent watching TV for the first time since 2012.
According to eMarketer, this trend will reverse as we move forward, where the average US adult will spend 15 minutes less with the medium in 2022, and 11 minutes less in 2023. Read more on IBM.
On the cusp of 2022, the broader socioeconomic dynamics animating the modern age appear to be converging with technology and amplifying change.
This is driving more innovation and competition but is also putting pressure on business models to keep up with changing behaviors.
The media and entertainment industry, embedded in the business of imagination, is riding a wave of tremendous opportunity amid the turbulence that attends times of significant change like the one we’re in.
Read more on Deloitte.
In 2020, we saw cinema theaters come to a standstill and the rise of over-to-top (OTT) platforms. They bridged the gap by bringing diverse, rich, and multilingual content to people's smartphones, laptops, and home screens.
The something-for-everyone proposition, combined with value-for-money subscription packs and low-cost internet, has made OTT platforms a trend that is not going anywhere.
According to research results from Statista, Netflix is expected to have 188 million subscribers by 2025 in the United States alone.
Even India's OTT streaming industry is projected to reach $12.5 billion by 2030, up from $1.5 billion in 2021. Read more on Forbes.
In 2022, 5G internet was introduced in most urban areas. The new cell networks are working to provide better internet access speeds.
According to the latest tests, 5 GSM has a rate of around 100x better than other 4G-based networks. It is said that quality video streaming may become the biggest winner with 5G.
OTT video providers notice this as an emerging benefit to streaming content providers and content delivery in video streaming. 5G could also finally see a boost in live streaming of sporting events.
Having high latency is a requirement in an increasingly competitive environment.
This trend is being followed in OTT content publisher growth. With so many streaming services in the OTT space fighting for dominance, the customers are winning. Read more on STRATEGUS.
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