The trick seems to work as consumers continue to migrate to online video channels.
OTT services are working overtime to find ways to provide original and high-quality content. Original programming gave rise to subscriber interactions, which commonly come in the form of debates revolving around popular shows. Consumers belonging to younger age groups even use the provision of original content as the basis for choosing a streaming service. The global demand for original programming has increased. Looking back, Netflix’s original programming started with the creation of “House of Cards” which led to other platforms creating their original content.
In 2020, eMarketer predicted that over 185 million American and Canadian households would have subscribed to Netflix, the undisputed top global OTT video service provider. Mostly due to widespread home confinement, Netflix revenues surged from $20.1 billion in 2019 to almost $25 billion in 2020 (Netflix, 2021). Elsewhere, the number of Western European households that subscribe to OTT video services was predicted to increase by 15.6% compared to the previous year (eMarketer, 2020). Popular OTT providers include Netflix, Hulu, Amazon Prime Video, Disney+, and HBO, among many others. The popularity of these platforms stems from the fact that they offer subscribers limitless and instant access to original high-quality content. Moreover, only 8% of Japanese households use messaging services, while 60% of Italians do so.īefore and during the pandemic, over-the-top (OTT) media services are growing, with more than 182 million subscribers in the US alone. Likewise, Philippine and Chinese households were found to spend more time on music streaming. For instance, while 43% of Australian households use streaming services to watch the news, the global average is much higher, at 50%. In addition, the average American subscriber watches 3.4 streaming services and pays an average monthly bill of $8.53 (Vindicia, 2019).Įlsewhere around the world, one study found that in-home media consumption behavior varies despite having similar effects of the pandemic. From 52% in 2015 and 64% in 2017, 74% of American households have at least one streaming service subscription in 2019 (Leichman Research Group, 2019). In the U.S., most consumers already subscribe to some form of streaming services.
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While some still listen to/watch traditional radios and TV sets, the majority now prefer in-home media for their information and entertainment needs. With over 4.5 billion people using the internet in early 2020, streaming services usage has achieved considerable growth across the world.įrom Netflix to Spotify and YouTube and Facebook, the norm for media consumers across all ages now involves accessing and enjoying content through online streaming. The pandemic has made significant effects on how households are consuming streaming media. In-home Media Consumption Due to COVID-19 It is in this context that some see the mass adoption of the vertical and square video formats, which optimize videos’ use of mobile screens. Such devices are not only used to watch videos but to live broadcast them as well. Users have developed a love affair with mobile devices. Mobile devices account for more than 70% of YouTube watch time. To give you a better idea of how you may use streaming to improve your business, we have compiled some of the latest streaming trends.Īnother notable development in streaming is the rise in the use of mobile devices, which gained considerable momentum even before the pandemic. The latest digital marketing statistics reflect the increasing role of video streaming in the corporate world. The same goes for the improvement in video quality, which will make streaming popular not only among businesses but to other organizations as well. Video accessibility also plays a part in the increased popularity of streaming. The convergence of new technologies, Internet penetration, expanding mobile usage, and ubiquitous lockdowns are the driving forces behind this development.Ĭurrent streaming statistics indicate that video streaming still leads the pack and will make up 82% of Internet traffic by the year 2022 (Interdigital, 2020). Streaming trends indicate that the technology has been reaching new heights during the pandemic. Forced to stay at home due to COVID-19 restrictions, people around the world suddenly found a new hobby-streaming content.
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