Key Trends in the Streaming World
By Media Entertainment Tech Outlook | Tuesday, January 12, 2021
It is time to explore streaming technology's advertising possibilities, from adopting personalized methods to considering attribution software and innovative ad formats.
FREMONT, CA: As streaming content becomes a daily activity for a quickly expanding number of people, the relatively young industry must create fresh strategies to enhance services to meet the increasingly high expectations of consumers in the ever-evolving video streaming marketplace. With a smartphone, tablet, or laptop on hand at all times, people can stream content at practically any point throughout their day. Streaming content through applications, gaming consoles, and multimedia devices is moving forward. The global OTT streaming industry has grown from $104.11 billion in 2019 to $161.37 billion in 2020, at an astonishing growth of 55.0 percent. Here are some of the key trends in the streaming world.
Ultra-High Definition (4K) TV
4K TVs are a vital trend in the OTT market today. This is presently the highest level of high-definition video quality available to viewers. That's why all the leading streaming services such as Netflix, Disney+, and Amazon Prime Video have included premium 4K content in their services.
This is another trend reshaping the industry. An increasing threat from piracy and unlawful streaming is becoming a crucial factor limiting the OTT streaming market's evolution. In 2019, the illegal sale of video content cost the industry $9.1 billion, with analysts forecasting the damage can hit $12.5 billion by 2024. Live TV channels are no exception in terms of protection.
The pandemic has become a mold-breaking factor in live streaming. This platform offers free live concerts, celebrities' reading books live-streamed, and many other examples – all prove that further transformation is in the air. In any event, live streaming had already become famous a long time before the COVID-19 pandemic arrived.
CTV/OTT Environment Popularity
More and more vloggers, content aggregators, and resellers are considering moving beyond Youtube and TikTok. It's forecasted that the OTT/CTV environment will show the highest industry growth rates and become the pioneer in the ad tech market in 2021 and beyond, which explains the deep adoption levels of advertising and publishing platforms.