It is not just a matter of ‘prediction’ alone. It is about how fast video streaming is gaining in usefulness, versatility, and popularity, and in how many different ways, and industries – Ecommerce, Entertainment, and Education included -- it is being utilized. Time and trends now say, watching the steady development of video streaming, that it is expected to be one of those technologies that are the most used in the 21st century.
In fact, as per a report, video streaming is supposed to be making up more than 80% of the Internet traffic by 2022. The forces driving such a development are
- Merging of technologies
- Internet penetration
- Increasing number of mobile users
- Accessibility of video
- Improved quality of video
As per certain statistics related to the digital market, the corporate world has also been finding more ways of using video streaming, thereby increasing its role in the working and development of many a company.
Let us discuss some of the top video streaming trends predicted – or foreseen – for 2020; so that you can plan the progress strategy of your business or company better.
Growth of Over The Top Media Services
The US alone is estimated to have more than 180 million OTT subscribers. Instant access to high quality, limitless, original content is one of the main reasons why such platforms have been gaining in popularity over time. Some of the popular OTT providers – as you might be well aware – are
- Amazon Prime Video
It is largely believed that when Netflix created ‘House of Cards’, other platforms began coming up with their original content, too. Demand for original programming has, since, risen all over the world. Youngsters, in fact, often decide to select a video streaming service if it provides original content. The reason why OTT service providers try their level best to present high quality, original content. Consumers, on their part, have been migrating to video channels, in response to the efforts taken by the OTT service providers.
There are many OTT providers who have associated themselves with mobile operators, to make the most of the opportunities available. Many a company is planning to use alternative models – subscription video on demand and ad based included – to monetize content.
The Live Streaming and Social Media Connection
When live streaming had commenced on social media, it had been a non-interactive process. However, social media platforms like Instagram, Facebook, and Periscope are believed to be setting the trends when it comes to live streaming on social media, by practising two-way interaction in live streaming. Viewers can communicate with live broadcasters with the help of messaging apps, now. There are also media streaming gadgets that can aid the process of streaming. The ability to interact has increased the popularity of live video streaming, where both consumers and businesses are concerned.
Many a company has found a very reliable marketing channel in live streaming, as live streams, to begin with, reach only those viewers, directly, who are interested in the broadcast. A secure way to reach a fine set of target audience for any company utilizing such an opportunity. Another reason that is making live streaming more popular is the increase in the number of mobile users.
Ecommerce companies, on their part, have begun to conduct live events for the purpose of displaying their products. End-user experience is getting better, as a result of it all.
You have some social media management software tools that can help you with leveraging social media in the process of your marketing.
Facebook, Instagram, and YouTube – in that order – are known to be the topmost social media platforms where video marketing is concerned.
Mobile Channel Preferred as Video Delivery Medium
As per a report, cable TV subscription has undergone about a 3.5% decline way back in 2017. It is estimated that less than 80% of households in the US continue to subscribe to satellite or cable TV services. The mobile channel has become the preferred video delivery medium now, and this trend is expected to grow on with time. The process and practice are being further encouraged as mobile networks are hastening to offer LTE and broadband services. Mobile networks and video streaming services are forging partnerships. Customers are being offered certain attractive incentives by such partnerships, in exchange for the augmentation in their consumption of content.
Video Streaming for Drive-through Banking, Virtual Doctor Visits, and More
Companies, as you know, have been using video streaming for the marketing of their brands. Businesses have, since, come up with more ways of utilizing this technology. Video streaming is now being brought into use for
- Drive-through Banking
- Virtual Doctor Visits
Video streaming is being widely used for handling service and product related issues. Customer Experience being an important aspect of Customer Service, the interactive nature of video streaming is being brought into utilization by businesses.
All thanks to technology, the physical presence of a technician for troubleshooting problems can be rendered unnecessary in many cases, thereby saving manpower, money, and time.
OTT Content Undergoing Fragmentation
Content fragmentation is expected to make waves, and Disney’s idea to launch Disney+, its very own OTT streaming platform, is being looked upon as a proof of this. OTT services are trying to find their own niche content, and the competition is bound to increase and intensify.
Streaming services are also doing their best to retain content that proves profitable – the way Netflix has retained the famous ‘Friends’.
Radio Losing Ground to Music Streaming
Reports reveal that close to 60% of Gen Z turns to YouTube for music – whereas radio might be having less than 40% listeners.
Podcasts are expected to garner more senior audiences in times to come.
Music streaming is getting more and more popular, as it is entirely about music
- Minus DJs
- Minus Time-consuming Advertisements
- Minus Time checks
Moreover, music streaming enables a person to play his/her chosen song from any device. S/he can select a song (or more) from thousands of readily available titles – unlike with the radio, where one has to request for their favorite songs to be played.
Live Streaming Used for Ecommerce, Education, Health Care, and More
Live streaming, as you are aware, is being harnessed by Ecommerce companies for marketing their services, and products; thereby improving their customers’ experience as they shop, and get drawn closer to the brands.
Likewise, live streaming is also being used in the field of Education, with lessons being streamed to online students. Videos are used to give learners live broadcasts of lessons, and visual demos, to enrich the classroom and learning experience, knowledge, and information retention capacity of students.
In the Health Care Sector, medical practitioners can have training sessions online, and take care of their patients in real time. Live streaming can even aid surgeons while they are at offshore surgeries.
Live streaming is found useful also by the Gaming Sector, for reaching out to a wider set of viewers, and also for advancing engagement.
Internet of Things Video Streaming for Endoscopic Surgeries and Law Enforcement
A number of settings find IoT Video Streaming very useful – endoscopic surgeries, and law enforcement being amongst them. As more and more devices are getting connected to the Internet, IoT video streaming is getting targeted at consumers.
Some examples of the consumer application of IoT video streaming –
- Security Cameras
- Doorbell Cameras
- IP / Internet Protocol Cameras
- Pet Monitors
In fact, now that 5G Internet is well on its way, IoT video streaming technology is expected to find more ways to make itself useful in home-monitoring.
Such, and more trends are in the process of rapid development almost every moment. You, too, can plan or decide to use video streaming for any of the purposes mentioned above, to boost your customer experience, presence on social media, and/or marketing. You can also come up with your own innovative idea/s for using VOD or video streaming for the progress of your business or company.
Feel most welcome to get in touch with us at Ascentspark Software for a complimentary consultation, if you want to clear any doubts, or know more about video streaming, VOD, and associated matters.
You can also get completely customized, end to end solutions related to video streaming, delivery, distribution, and monetization from us.