Streaming has become an integral part of our daily lives, from watching movies and TV shows to listening to music and playing games. The rise of streaming services has been incredible, and there are no signs of slowing down. The video streaming market globally is forecast to reach USD 184.3 billion by 2027 according to ResearchAndMarkets. In fact, if anything, the pace of change in streaming is only going to quicken, and the future is going to be even more exciting, going by some of the emerging trends and technologies on the horizon.
Adoption of Streaming Services
One of the most significant trends in the streaming industry is the adoption of streaming services. The increased adoption has also meant that streaming services are now more popular than ever. And with more widespread adoption of streaming services, the demand for content also has increased. In fact, according to a report by Kantar, 85% of American households now subscribe to at least one video streaming service. This has led to a significant increase in the number of shows and movies produced by streaming services.
Changing Content Consumption Behaviors
The very act of viewing or consuming content has also changed. While cable television may have been popular before, more viewers are spending a significant amount of time on streaming content today. This has led to a shift in how we consume content, with more people opting to binge-watch shows and movies. From a 2021 survey of people aged 18 and over, 34% said it was being able to binge-watch content.
Growth in Internet Users
The rise in adoption of streaming services has also been accelerated in part due to the rapid growth in the number of internet users. According to the Digital 2022 Global Overview Report from We Are Social and Hootsuite, global internet users climbed to 4.95 billion at the start of 2022, with internet penetration reaching 62.5% of the world’s total population. This has created an enormous opportunity for streaming services to reach a global audience.
Types of Streaming Services
There are several types of streaming services available, each catering to different audiences. Some of the most popular types of streaming services include:
Video on Demand (VOD)
These services allow users to access movies and TV shows on demand. Some of the most popular VOD services include Netflix, Hulu, and Amazon Prime Video.
Streaming Platforms
These allow users to access live and on-demand content from multiple sources. Some of the most popular streaming platforms include Roku, Apple TV, and Google Chromecast.
Music Streaming Services and Platforms
Just like video content, music is also being consumed through streaming services like Spotify, Apple Music, and Pandora, allowing users to listen to music on demand.
Social Media Platforms:
Social media platforms like Facebook, Twitter are not only used for social networking but also as a source for streaming content. Additionally, With the availability of social media streaming services like TikTok and Instagram Live, users can share short-form videos and live streams with their followers. This has led to an increase in popularity, especially among younger audiences. TikTok, in particular, has become a cultural phenomenon with millions of users creating and sharing short videos on various topics. Additionally, big publishers, broadcasting networks, and individual content creators are also leveraging these platforms to reach a wider audience.
10 Streaming Trends to Harness the Power of
Despite the rising popularity and the various resources that publishers and content creators have for streaming, the landscape is constantly evolving. To capitalize on the benefits of this technology, it is important to note some emerging trends that are shaping the future of streaming.
The Move Towards Live Broadcasting in Real-Time
Live streaming has become increasingly popular in recent years, with platforms like Twitch and YouTube Live leading the way. The immediacy and real-time nature of content delivery through live streaming has attracted both consumers and broadcasters. As more people move towards live broadcasting, we can expect to see more platforms and services designed to cater to this growing trend.
Content Fragmentation Across Multiple Platforms
Even as the number of streaming services and platforms continues to grow, there has been a fragmentation of content across multiple platforms. For example, some content may be exclusive to Netflix and not available on Hulu or Disney+, due to licensing and copyright issues. This has created a challenge for viewers who need to subscribe to multiple services to access all the content they want. However, it has also created an opportunity for content creators and distributors to reach new audiences.
Differentiation Between Platforms
As with any market that becomes saturated, new players will have to think about differentiation and established leaders will be pressured to innovate. Streaming services need to offer unique content and features to stand out in a crowded market. One possible result of this could be the rise of platforms and services specializing in specific niches, such as sports or niche content genres.
The Power of Short-Form Content
The rise of some of the newer social media platforms such as TikTok, Snapchat and new features such as Reels on Instagram can be seen as a response to the appeal of short-form content. These are videos and clips, which only last a few minutes or even less, and which are more democratized. This means they are more accessible to create and share, making it an excellent opportunity for content creators and businesses to engage with their audience.
The Need for More Storage
Needless to say, the explosion of streaming platforms and content creators has led to a massive amount of content being published every day. This makes it critical for good storage solutions. One potential consequence of this could be the continued development of cloud-based storage solutions, which allow streaming services to store vast amounts of content without investing in expensive hardware.
The Expectation of a High-Definition Video Experience
As internet speeds and technology continue to improve, viewers are now expecting a high-definition video experience. Streaming services need to offer high-quality video streaming to remain competitive.
Significant Growth in the APAC Region
The Asia-Pacific (APAC) region has seen significant growth in the streaming industry, with countries like China and India leading the way. As more people in the APAC region gain access to the internet, we can expect to see continued growth in the streaming industry.
Stream Security is Now More Important Than Ever
With the rise of live streaming, stream security has become more critical than ever. Streaming services need to ensure that their streams are secure, and viewers’ data is protected. Therefore, it is essential to implement robust security measures that make live streaming accessible while maintaining stream security.
Live e-Commerce Emerges
Another interesting trend that is emerging in the streaming industry is that of live e-commerce. Streaming services are now offering e-commerce capabilities, allowing viewers to purchase products while watching a live stream. This creates an exciting opportunity for businesses to engage with their audience and generate revenue.
New Protocols Make Live Streaming Accessible
Although live streaming as an option has been around for a while, it is becoming more accessible to businesses, thanks to new protocols that are making it possible. HTTP Live Streaming (HLS) is considered to be the top protocol for live stream delivery, for various reasons including its compatibility with all devices that use the HTML5 video player.
Real-Time Messaging Protocol (RTMP) is another one that is widely used in many streaming applications, and it is increasingly being used for RTMP ingest, which allows users to take advantage of low-cost or open-source live encoders. Other new protocols are also becoming popular, such as the Quick UDP Internet Connection (QUIC), which addresses the problem of network transmission in the last mile through fast handshakes, authenticated and encrypted packets and other features.
The Importance of Analyzing Streaming Trends
The future of streaming is exciting and full of potential. With the rise of live streaming, the fragmentation of content, and the growth of the APAC region, there are plenty of opportunities for businesses and organizations to engage with their audience and generate revenue. Analyzing streaming trends is crucial for streaming services and businesses looking to leverage the power of streaming.
CDNetworks is a leading provider of streaming services, offering customers the most suitable VOD and live streaming solutions, which are designed to help businesses and organizations engage with their audience and take advantage of the emerging trends and technologies in the streaming industry. For example, Cloud Live provides an all-in-one live streaming solution that comes with stream-management features for ingesting, processing, and delivery, while leveraging our globally distributed content delivery network (CDN). And if you are interested in streaming video on demand, there is Cloud VOD, which provides similar benefits for ingesting, managing, processing, publishing, distributing, and analyzing media content.
To learn more about how CDNetworks can help you with the best performance of streaming services, please contact us or click here for a free trial.
