July 19, 2024
A recent report on the results of a survey conducted by Forbes Home found that up to 99% of all US households pay for at least one streaming service, with viewers watching at least 21 hours of content delivered by streaming video platforms each week. The report shows that streaming has become a huge economic force, valued at $544 billion by 2024. The value of this branch of user-delivered entertainment is expected to grow to $1,902 billion by 2030.
In addition, the report summarizes in detail the results of the surveys, which analyzed individual issues ranging from the exact number of streaming services subscribed to per household, the number of subscriptions per individual user, consumers' assessment of the UX of individual platforms and services, to the rate of subscription growth year-on-year.
When analyzing the individual changes in the consumption trends of streaming platform viewers, it can be concluded that it is not only the prices of the packages and the content offered by the individual services that are important to their audiences. Increasingly, the technology, tools, services and the quality of the picture and sound are also important to viewers.
To meet the expectations of increasingly demanding viewers, innovative technological solutions are needed that address a wide range of elements that affect the quality, reliability and security of streaming delivered on-demand, live and from live to on-demand. As the evolution of the streaming industry in which we operate increasingly relies on cloud-based solutions and the use of artificial intelligence, it is clear that the technologies we use are becoming more and more advanced.
This is evidenced by the increasingly sophisticated and innovative offerings from technology providers used in video streaming. Streaming platforms are well aware that quality and reliability, as well as compelling content, are a magnet for retaining existing users and attracting new ones. And although recent months have shown that the major players are looking to save money and produce less original content for their platforms or for television, everyone is aware that only content that is differentiated for different audiences and delivered in high quality will guarantee success and maintain projected profits.
Our industry, which is expected to grow rapidly in the coming years, must keep its finger on the pulse and not let up. The dynamic development of the technology used and its performance and innovation cannot and will not allow us to stand still.
#SzymonKarbowski #StreamVX #videostreaming #trends #consumptiontrends #streaming #technology
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