Ongoing trends in the launching of video streaming services are key to engaging, acquiring, and retaining customers.
Thriving media and entertainment activities have contributed substantially to the video streaming business. Furthermore, ongoing trends in the launching of the video streaming market are key to engaging, acquiring, and retaining customers.
The video streaming service providers are investing massively in video entertainment activities. This will help them in identifying customer touch points, understanding customer value, and knowing the diverse requirements of customers. Moreover, video-on-demand streaming service providers have implemented strategies such as service customization, dynamic pricing, and partnerships with other players for expanding their business. This will boost the global video streaming market trends. As per the report published by Allied Market Research, the global video streaming market is slated to garner revenue of nearly $149.34 billion by 2026. Following are some of the events witnessed across the global video streaming industry.
New Studio Launch To Boost Online Casino Gaming Business In the U.S.
New product and service launches are likely to majorly impact the growth of the global video streaming market. Evolution firm launched its new live casino studio in Connecticut, U.S. The new studio will provide B2B live casino services for operators that are trying to offer live casino gaming to online gamers. The strategic move of Evolution firm is aimed at expanding its online gaming business in the U.S. Moreover, the initiative will help in improving the online entertainment and online gaming experience of the end-users.
Furthermore, Amazon Prime Video, an on-demand streaming service provider, launched a prime video store, a transaction-video-on-demand service. The newly launched services will enable Amazon prime subscribers and non-subscribers to watch Amazon prime movies on rent. Moreover, Moj, a video-sharing social networking service owned by Mohalla Tech Private Limited, an Indian firm, introduced a live video streaming tool referred to as Moj Live. Reportedly, Moj Live will assist video creators in India in producing highly engaging content across myriad creative formats such as live game streaming, stand-up comedy, and live talk shows. The strategic move is aimed at empowering the video creator community in connecting with their fan base in real-time and creating highly engaging communities.
Continuing with the trend of new product and service launches, Castr Live Streaming Inc., a Canada-based live streaming service provider, introduced a new product referred to as LiveAPI. Reportedly, the new product provides a collection of powerful application provider interfaces (APIs) for developing live and on-demand video streaming applications. Moreover, the product handles technical issues related to video processing, live video streaming, video editing & encrypting, and video hosting for various applications. The strategic move of the firm is intended to simplify the development of live video streaming applications and the creation of software involved in live streaming as well as the hoisting of videos. Earlier, HTT labs launched OTTplay, a content discovery tool for video streaming services. Such moves will open new vistas of growth for the global video streaming market.
Netflix and Microsoft Join Hands To Offer Cost-Efficient Advertisement Streaming
Strategic partnerships have played a key role in influencing the growth of every market and the global video streaming market is one of them. Netflix has signed a partnership deal with Microsoft for offering cost-effective streaming of advertisements. As per the agreement, all the advertisements displayed on Netflix will be available through the Microsoft tool. The strategic move of Netflix is aimed at attracting more customers and establishing a strong foothold in the video streaming business.
Sequoia‘s Investments To Expedite Veed’s Online Video Editing Business
Investments are the major business strategies implemented by key industry players to expand their business. Reportedly, Dippaku Technologies Private Limited which launched ZeboLive, a live entertainment video streaming tool, secured nearly $1 million from Hindustan Media Ventures, the investment branch of HT Media Limited. The strategic move of Dipaoaku Technologies Private Limited is aimed at increasing its brand presence, enhancing product development, and onboarding new video creators from Tier II and Tier III cities across India. Sequoia Capital, a U.S.-based venture capital firm, allocated funds worth $35 million for Veed, a UK-based online video editor tool. The funding will help Veed expand its live streaming service portfolio.
Amazon Acquires MGM To Bolster Its Storytelling Video Streaming Business
Mergers and Acquisitions have lucratively impacted the growth of the global video streaming industry. KT Corporation, a South Korean telecommunications firm, and CJ ENM Company, a South Korean entertainment and mass media firm, have announced the merging of their video streaming services. The strategic move of the firms is aimed at competing with giant players in the South Korean video streaming industry. The initiative will help in bolstering domestic video content streaming services for locals.
Amazon Prime Video completely acquired Metro Goldwyn Mayer (MGM) for nearly $8.5 billion. The acquisition deal is predicted to add to Amazon’s online video streaming service portfolio. The strategic move is intended to provide the audience with the best entertainment along with delivering high-quality storytelling video streaming services in the years ahead. Furthermore, the key business strategies implemented by the market players will help them in expanding their business along with establishing a strong position in the global video streaming market.
Author Biography- Dhananjay Punekar is writer, avid reader & book lover, and interested in watching sports. He holds a post-graduate degree in management and is working as a Sr. Specialist Content Writer at Allied Market Research. He can be reached at dhananjay.punekar@alliedanalytics.com
