Why You NEED to Pay Attention to Streaming Media
Most likely, you’ve heard of Netflix, Hulu, and Amazon Prime Instant Video by now. You may even be familiar with other streaming services like HBO Now, Yahoo Screen, and Sling TV.
Well, get familiar, folks!
A recent study from Juniper Research says that the number of subscribers to “over the top” (OTT) streaming services will increase from 92.1 million globally in 2014 to 332.2 million by 2019. On top of that, the study finds that ad spend on these platforms will increase fourfold in that time frame.
Thom Villing, our president, has previously discussed the impact on advertising, but it’s nice to see research that supports the idea that streaming services won’t kill TV advertising. The ability to skip ads coupled with the fact that some platforms don't even allow advertising initially gave some a quick scare. Clearly that looks to be premature.
This expected growth comes on the heels of wider usage for devices like Amazon's Fire TV Stick and Google Chromecast, which can turn your old television set into a wealth of streaming video. Somewhat surprisingly, the study shows that smart TVs are not experiencing the same type of popularity due to their sub-par operating systems.
Traditional TV providers will have to change their strategy, something we've already seen from the likes of Verizon. The TV landscape is changing, but that shouldn't be cause for concern.
It should, however, be a reason for you to get to know some of these platforms a little better. Here's a quick guide from Digital Trends on some of the major players. Learn what you can about these growing platforms.
Bottom line: it’s time to hop on the streaming video bandwagon! It won’t be slowing down any time soon.
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