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State of Video Streaming Market

The streaming market has been growing exponentially in the past few years and is projected to continue for several years to come. The word streaming means listening to music or watching a video in real-time rather than waiting for the video to be downloaded to the device and then watching it. Video streaming or media streaming is video content, which can be sent in compressed form over the internet and played immediately rather than storing it on the hard drive of the device. video streaming services

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Streaming videos are usually sent from a pre-recorded video file that is compressed and can be sent to multiple users at the same time. Any device, that has access to the internet and applications that can un-compress the contents, can enjoy the services of video streaming.

Report: Global Video Streaming Market to Reach $149.34 Billion by 2026

A report from Allied Market Research projected that the global video streaming market size, which was valued at $38.56 billion in 2018, is projected to reach $149.34 billion by 2026, growing at a CAGR of 18.3% through 2026. The report said: “The subscription revenue model… is projected to remain dominant during the forecast period owing to an increase in the number of subscriptions registered by video streaming content providers.” 

Active Companies in the markets today include Grom Social Enterprises, Inc., The Walt Disney Company, Netflix, Inc., Hasbro, Inc., and Comcast Corporation.

Allied Market Research continued: “Factors such as an increase in live-streamed content, rise in adoption of cloud-based video streaming solutions, and extensive growth of online video in developing economies majorly boost the growth of the market. Moreover, the rise in popularity of video game streaming services as well as the extensive use of videos in (education, entertainment) and corporate training fuels the growth of the market. However, bandwidth limitations and latency & reliability issues are expected to hamper the video streaming market growth. Furthermore, the increase in the impact of video streaming in the education sector and integration of advanced technologies in video platforms to improve video quality are providing numerous opportunities for the market.”

Grom Social Enterprises, Inc.Curiosity Ink Media Teams Up with Celebrated Comic Performer Maz Jobrani to Develop Animated Family Sitcom – Grom Social Enterprises, Inc’s, Curiosity Ink Media – a prolific creator of original multiplatform family entertainment – today announced that it will partner with iconic comedian Maz Jobrani (Pandemic Warrior, Superior Donuts, Back to School With Maz Jobrani) to develop an original animated sitcom, Laugh on Lorb (working title), centered on an aspiring teenage comic who is mistakenly abducted by aliens who believe he is Oprah Winfrey. Their objective, of course, is to bring her back to their princess, tap into her infinite wisdom, and bring aspirational living to their planet’s inhabitants. Jobrani, along with co-creator Dustin Ellis, (The Kingdom, The Iron Giant) will oversee the writing, story development and overall direction for the series which will be produced by Curiosity Ink Media and Mainstay Entertainment. The series was announced today by Russell Hicks, Chief Content Officer of Curiosity Ink Media.

“Only the mind of Maz Jobrani could conceive an Iranian teenage standup mistaken for Oprah and aiming to please an emotionless race of aliens on the verge of extinction… and we love it,” said Hicks. “Maz has an incredible ability to use his comedy to build cultural bridges and we’re thrilled that he’s partnering with Curiosity to bring his humor and endless good energy to this animated sitcom.” 

Jobrani, an Iranian-born comedian who emigrated to the United States at the age of six, is an actor, podcaster and comedian whose wry global view has made him a hit with audiences around the world. His new standup comedy special, Pandemic Warrior is currently streaming on PeacockTV and he is the host of his own podcast, Back to School with Maz Jobrani on the All Things Comedy Network. As an actor, he was most recently seen playing the loveable “Fawz” on the CBS comedy Superior Donuts. He has made many appearances on television’s most popular shows, including Grey’s Anatomy, Curb Your Enthusiasm, Last Man Standing and Shameless. He has also been a regular guest on The Late Show With Stephen Colbert, and The Late, Late Show With James Corden. Jobrani starred as the title character in the award-winning indie comedy, Jimmy Vestvood: Amerikan Hero, a feature which he co-wrote and co-produced. He has co-starred in many additional films, including Sydney Pollack’s The Interpreter, Disney’s Descendants and Ice Cube’s Friday After Next. Jobrani’s other standup comedy specials include Immigrant, which was filmed at the prestigious Kennedy Center and is a Netflix original, as well as solo specials on Showtime: Brown and Friendly, I Come in Peace, and I’m Not A Terrorist, But I’ve Played One On TV. He was also a founding member of The Axis of Evil comedy tour, which aired on Comedy Central. In Spring 2016, Jobrani performed at the White House, where he had the privilege of introducing Michelle Obama and as a UC Berkeley alum, gave the keynote speech to the graduating class of 2017.

Other recent developments in the markets include: video streaming services

The Walt Disney Company  In a first for Disney’s premier direct-to-consumer streaming service, Disney+ recently announced that it will expand its offerings for consumers by introducing an ad-supported subscription in addition to its option without ads, beginning in the U.S. in late 2022, with plans to expand internationally in 2023.

“Expanding access to Disney+ to a broader audience at a lower price point is a win for everyone – consumers, advertisers, and our storytellers,” said Kareem Daniel, Chairman, Disney Media and Entertainment Distribution. “More consumers will be able to access our amazing content. Advertisers will be able to reach a wider audience, and our storytellers will be able to share their incredible work with more fans and families.”

Disney leads the market with quality and premium ad experiences. It is home to the industry’s premier ad-supported streaming services, including Hulu, a pioneer and leader among all ad-supported video-on-demand subscription services, and ESPN+, which continues to pave the way for direct-to-consumer sports programming and live events. This type of innovation, driven by advertising that is contextually relevant to viewers, will soon extend to Disney+.

Netflix, Inc. recently announced that it has entered into a combination agreement to acquire Next Games. Under the terms of the agreement, Netflix will commence a tender offer to acquire all of the issued and outstanding shares of Next Games. Pursuant to the offer, Next Games shareholders will receive €2.1 in cash per share of Next Games, for a total equity value of approximately €65 million. The Board of Directors of Next Games has unanimously decided to recommend that the shareholders accept the tender offer.

“Next Games has a seasoned management team, strong track record with mobile games based on entertainment franchises, and solid operational capabilities,” said Michael Verdu, Vice President of Games, Netflix. “We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities. While we’re just getting started in games, I am confident that together with Next Games we will be able to build a portfolio of world class games that will delight our members around the world.”

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Hasbro, Inc., a global play and entertainment leader, recently announced further activation of its purpose-driven brand blueprint strategy with an extensive lineup of new content and products across its iconic portfolio.

Hasbro is unveiling all-new entertainment and product innovations across key franchise categories including action brands, such as Power Rangers and Transformers; sports action brands leading the way with NERF; arts & crafts brands with Play-Doh; gaming brands, including Clue, Dungeons & Dragons, Magic: The Gathering and Monopoly; fashion brands, like Baby Alive and My Little Pony and preschool brands, such as Peppa Pig and PJ Masks.

Comcast Corporation Comcast and Apple recently announced the launch of Apple TV+ across Comcast’s entertainment platforms in the U.S., including Xfinity X1, Xfinity Flex and XClass TV.

Apple TV+ will begin its rollout on Xfinity X1, Xfinity Flex and XClass TV today and will be available across all eligible devices in the coming days. Apple TV+ launched on Sky devices (Sky Q and Sky Glass) in the UK and Europe in December.

 

 

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