The demand for video content is not abating any time soon. By 2028, the video streaming market is projected to reach $224 billion, growing at a staunch CAGR of 21%.
Last year, global mobile consumers clocked in over 935 billion hours, watching content in mobile video streaming apps. That's 65% up from the year before! Unsurprisingly, Netflix was among the fastest-growing entertainment product across several global markets, moving past the 200 million paid subscribers mark.
If you are considering VOD app development, the timing is just right. On-demand and live streaming markets are still in the high-growth stage. So you too can tap into the new revenue pools.
Consumers continue to love streaming video for entertainment. Publishers are on the lookout for the best video on demand (VOD) platforms to help them reach an ever-growing audience across multiple devices. There are three top-tier VOD platforms to consider in 2021. Each provides a great feature set to the job done.
OTT platforms have taken over the global market, and Samsung TV has emerged as one of the top players. As a publisher, if you don't already have a video streaming app for this major platform, you're leaving money on the table.
Unlike the traditional TV of decades past, today’s viewers seek more diverse viewing options. They’re watching their favorite content on mobile devices, game consoles, Smart TVs, and other connected devices.
Getting Started With Your First OTT App
From media to telcos, Over-the-top (OTT) app development and services are becoming increasingly important in the future of almost every industry. In 2019, the OTT market's value stood at $85.16 billion, and the number is expected to reach $194.20 billion by 2025. This shows just how big a threat OTT is to commercial TV channels, fueled by advertisers' and viewers' migration to the internet.
In the world of video content, streaming is fast becoming king. Not only are more people than ever watching mobile and online content, but various sectors are also seeing tremendous growth in streaming. Sports streaming alone will reach $85 billion by 2024, according to a Rethink TV study.
Should You Build Your Own Streaming App?