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The video streaming industry has revolutionized the way we consume media. With the advent of high-speed internet and the proliferation of smartphones and smart TVs, consumers can now access a vast array of on-demand video content anytime, anywhere. As a result, the video streaming marketplace has become increasingly competitive, with new players entering the market and established players striving to maintain their market share. In this article, we will explore the dimension, scope, and forecast of the video streaming marketplace.
Dimension of the Video Streaming Marketplace
The subscription-based segment includes services such as Netflix, Amazon Prime Video, and Disney+, which charge a monthly or yearly fee for access to their content library. The ad-supported segment includes services such as YouTube, Hulu, and Roku, which offer free access to their content library but generate revenue through advertising. The report also states that the subscription-based segment dominated the market in 2020, accounting for over 60% of the global revenue share.
Scope of the Video Streaming Marketplace
It also includes live streaming of sports events, concerts, and other types of events. The popularity of live streaming has grown significantly in recent years, with platforms such as Twitch and Facebook Live attracting millions of viewers. Apart from the big players such as Netflix, Amazon Prime Video, and YouTube, there are also regional players such as Hotstar in India and iQiyi in China.
Forecast of the Video Streaming Marketplace
The COVID-19 pandemic has accelerated the adoption of video streaming services, as people spend more time at home and look for entertainment options. Furthermore, the report states that the Asia Pacific region will see the highest growth rate in SVOD subscriptions, with a CAGR of 25% between 2020 and 2026. The report also predicts that Netflix will remain the dominant player in the SVOD market, accounting for 30% of the global subscriptions by 2026.
The video streaming marketplace is a dynamic and rapidly evolving industry. As the industry evolves, it will be interesting to see how new players and emerging technologies will shape the future of the video streaming marketplace.