On hearing the term “video streaming”, YouTube, Netflix, Hulu comes to mind. Be it Independence Day: Resurgence, House of cards latest season or even cat videos, we are all hooked to finding and streaming the latest videos of our choice. Be it android or iOS, we keep experimenting with the top video streaming apps.
According to a report by CISCO on video streaming, Global IP Traffic will reach 2 Zettabytes (100 trillion gigabytes) by 2019. Also 80% of global Internet consumption will be video content by then. Most importantly what would you feel if you know that it would take an individual over 5 million years to watch the amount of video that will cross global IP networks every single month in 2019?
With something new happening every second in this industry, let us take a look at top 5 changes that revolutionized video streaming:
- Live streaming took the high road: When videos could be streamed on your phone, why not grab the live ones more? From sports to award shows, from concerts to oath-taking ceremonies, the need to know the news of the moment created huge demand for live streaming. The 2015 Grammy awards rocked numbers with their live webcast. The 2016 Summer Olympics is expected to be a major event to be live streamed.
The chart below by Goblal Web Index shows that the addiction to live streaming is huge and that funny/entertaining videos top the list of most watched through streaming.
- Rise of the 4K ecosystem: The rise of 4K enabled devices and 4K content has given streaming a whole new meaning, in terms of resolution and viewing. Even though the ecosystem is expected to be at its peak by 2019, the 4K TV sets are attracting many. Amazon and Netflix are competing to provide the best in this field to its customers. Amazon offers almost all its programs on 4K while Netflix has limited content in this area.
- Manifold options available for viewing: With the advent of Netflix letting its customers access video streaming through any or every device, the platform for viewing has grown in abundance. For the customer, the prices of these devices are falling down as competitors of Netflix fight to provide various platforms. The table below shows which of the devices have video streaming available:
- Bye, bye television: Unless you have the age-old habit of switching on your TV as soon as you get home, there is a very good chance that you have stopped watching traditional television. Netflix, Roku, Apple TV, Broadcast Me and Hulu are your new friends.
According to the Total Audience Report by Nielsen, 2.6 million households don’t subscribe to traditional TV and only have broadband.
- OTT is here: Over The Top content, which is via internet and not through traditional cable network is here. New data from Juniper Research has shown that subscriber numbers to ‘over-the-top’ (OTT) TV services such as Netflix and Amazon Prime will increase from 92.1 million in 2014, to 332.2 million globally by 2019. It could be subscription-based models like that of Netflix and Hulu, stuff like Amazon Instant Video that comes at a price for each video or transactional services such as iTunes. OTT content can be accessed through gaming consoles, set-top boxes, smartphones, smart TVs and tablets.
With the newer video streaming apps coming into picture, we will continue to witness changes in this field.
Interested in developing a video streaming app?