Global Digital Video Content Market 2018-2023: Cable TV is Rapidly Being Overtaken by OTT Media Services Such as Amazon, Netflix, Hulu
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SOURCE Research and Markets
DUBLIN, Nov 9, 2018 /PRNewswire/ —
The “Digital Video Content Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
The global digital video content market is currently being catalysed by a number of factors which include rising internet penetration, increasing sales of smart phones, strong growth of social media platforms, low costs, etc. Digital video content includes music videos, TV shows, movies and advertisements which can be viewed on digital platforms through devices such as smartphones, tablets, laptops, smart TVs, etc. It accounts for a significant part of online media consumption, particularly by the young population. With the increasing number of devices capable of supporting digital media coupled with growing access to broadband and public Wi-Fi, an array of video content platforms have emerged. Moreover, the popularity and wide reach of digital video content have helped marketers in educating and converting buyers, and ensuring customer satisfaction.
Global Digital Video Content Market Drivers/Constraints:
With rising internet penetration, cable TV is rapidly being overtaken by over-the-top (OTT) media services such as Amazon, Netflix, Hulu, etc. This has reshaped consumer habits and preferences, in both the developed and developing regions, by providing an option to view the content at any time or place.
There has been a shift from plain texts and images to video advertisements on numerous social media platforms as they help in capturing the attention of the target audience. Various companies are employing livestream videos as they offer a low-cost, authentic and easily accessible marketing solution.
As an increasing number of consumers are accessing videos through smartphones due to lowering costs and easy internet access, various companies are optimising their video content for consumption through these devices. For instance, they are creating videos in 1:1 ratio (square) along with transcribed and annotated content.
Digital video content is vulnerable to fraud, and leads to wasted spend and effort on the part of vendors and advertisers. Moreover, content piracy can result in loss of revenue due to low subscription rates.
Breakup by Type:
Based on the type, the market has been segmented as video-on-demand (VOD) and online video content. Amongst these, online video content is the leading segment, holding the largest share. This can be attributed to the rising popularity of social media platforms which enable the users to share and review videos online.
Breakup by Business Model:
Based on the business model, the report has segmented the market into advertising, subscription, download-to-own (DTO) and others.
Breakup by Device Type:
Based on the device type, the market has been segmented as laptops, personal computers, mobiles and others.
Region-wise, North America enjoys the leading position in the global digital video content market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
The report also provides the competitive landscape of the global digital video content market. Some of the major key players operating in the market are:
- Hulu LLC
- Apple Inc.
- Snap Inc.
For more information about this report visit https://www.researchandmarkets.com/research/jdnwxd/global_digital?w=5
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