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%.
video on demand
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.
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.
The digital age has made it imperative for entrepreneurs and marketers to brainstorm new ways to reach their customers. While social media marketing and content marketing continue to rule the roost, OTT or over-the-top apps are becoming increasingly effective as customer acquisition tools. In fact, Netflix, Amazon Prime, Hulu, and other such apps are fast replacing traditional TV channels.
In a general sense, television viewing has been disrupted permanently by internet technologies that allow fast, reliable, high-resolution video streaming. The sports world has taken advantage of this, utilizing over-the-top (OTT) platforms to either supplement traditional TV broadcasts or to supplant them altogether.
2020 has been a massive year for OTT platforms and businesses. And 2021 will only get bigger. As lockdown orders took place, millions of viewers turned to OTT streaming services like Netflix, Disney+ and Hulu to stay entertained. This created an enormous opportunity for video streaming companies and publishers.
2020 has been a time of growth for digital media and OTT streaming businesses. Research shows that video streaming has grown tremendously, especially since stay-at-home orders went into effect. While phone and desktop consumption have been leading this surge, connected TV is not far behind and has expanded its reach.
With the upwards trend of cord cutting, livestreams and linear channels have become an extremely popular way to stream content to your audience. Typically used with Video on Demand style content, linear channels have proven to be extremely effective and offer a true “in the moment” type of viewing experience.
The world of over-the-top content (otherwise known as OTT) can be complex. On its face, OTT is the technology that allows viewers to stream videos over the internet. But behind the scenes, there are hundreds of companies and OTT services that make it all come to life. Without this technology, there would be no Netflix, no Disney+, no YouTube, no streaming video as we know it.