Video has officially conquered the web. The flexibility of the internet creates an unstoppable force, and has opened up opportunities for content creators, distributors, and brands everywhere.
A lot of development is expected in the streaming space from now on as new technologies converge and mobile usage continues to expand globally. Users are expecting much more in video streaming, while media companies are figuring out how to optimize their videos for different screens.
What can we expect for 2023?
1. Consistent growth of OTT space
The OTT space is bound to grow 40% globally as access to entertainment has become one step easier. The convenience to stream an unlimited library at any time is now mainstream, enabling the growth of OTT content among different verticals.
The OTT market will double in 3 years, becoming a $ 1 trillion industry by 2025!
2. But it’s not just video
Streaming is not limited to video, despite its unprecedented growth. Other media have also taken advantage of the technology. In fact, audio streaming traffic will grow by 27%. Accessibility and convenience had been crucial factors in the development of this streaming segment.
3. Mobile rules
Mobile content is now significantly larger than TV, as it became the preferred video delivery medium. For example, around 50% of all Twitch users watch live streams using their smartphones. Cord-cutting activity is expected to continue in 2023.
4. The corporate world embraces streaming
Video streaming’s interactive nature contributes to a better customer experience, which is now considered a critical element of customer service. The two verticals that will embrace streaming with sophisticated features are Health Care and Travel.
5. Live stream eCommerce is on the rise
Instead of interacting with their audience just through social media influencers, brands are now focusing on promoting and selling their merchandise through live video shopping. eCommerce live streaming has become a major trend and is expected to grow in popularity in 2023.
6. Connected TVs
2023 marks a new age of CTV, due to the increased amount of available premium inventory through Advertising-based VOD platforms. Ad spending growth is expected to continue 40% in 2023.
There is no doubt that streaming is one of the most used technologies of the century. For a while, it was considered to be an entertainment medium, but today it has branched out to other industries, with audio and video streaming dominating our daily lives.
At Streann Media we are excited to see what the new year will bring to the world of streaming and we hope to help you create the best streaming platform!
Streann Media®️ is the world’s most innovative and interactive content creation, distribution, engagement, and monetization streaming platform. With Streann, content providers can create live-streaming content and build next-generation Web 3.0 business models, with more than 150 proprietary features. Established in Miami, Florida, the company has won several industry awards for its innovations and has millions of active users in 141 geographies. For more information, visit www.streann.com.