The demand for streaming services rose during the Covid-19 restrictions, and this growth continues to soar. Thanks to technology, streaming service providers have reached a new height and didn’t disappoint subscribers during and post the pandemic.
A lot of development is expected in the streaming space from now on as new technologies converge, mobile usage expands, and internet penetration increases. Thus viewers can expect much more in video streaming even as the quality of videos improves. Also, companies are optimizing their videos for mobile screens, thus growing the love affair between mobile users and their devices.
Further, video streaming has become popular among individuals, businesses, and other organizations. Findings from a recent study show that 2022 has been an exciting year for the streaming industry, viewers, and corporates. Netflix released the 4Th season of Stranger Things, Disney released for streaming Strange in the Multiverse of Madness, The Tinder Swindler became the most-viewed documentary, and much more.
Here is what you should expect from the streaming industry in 2023 and as we advance.
In-House Media Consumption
Nearly half of the world’s population can access the internet. This increased internet accessibility is good news for streaming services because viewers can stream videos using their smartphones and other gadgets.
Viewers of all ages can enjoy content from Facebook, YouTube, Spotify, or Netflix through online streaming. Instead of watching movies on traditional TV sets or listening to music on the radio, they prefer in-home media. Families turn to streaming services to watch the news, listen to music, and much more. Such in-home media consumption behavior is expected to extend around the world.
Over-the-Top Media Services
Over-the-counter (OTT) platforms like Netflix, Disney+, Hulu, HBO, Amazon Prime Video, etc., offer subscribers instant access to unlimited original high-quality content. These provisions have increased the popularity of OTT media services.
Due to its widespread home confinement, Netflix leads in global OTT video service provision. The number of its subscribers is set to grow due to the demand for the original and high-quality continent. As more consumers switch to online video channels, OTT providers want to work with mobile operators to share the revenues.
Live Streaming on Social Media
Social media platforms like Instagram, YouTube, TikTok, and Facebook are riding on the video streaming trends by creating two-way traffic. For instance, live broadcasters and audiences can communicate through messaging apps.
In fact, there are media streaming gadgets that people and businesses use to enhance the streaming process. This seamless interactive experience has made live streaming popular among consumers and companies. Indeed brands leverage live streaming to showcase their products and services, conduct live events and improve end-user experience.
Businesses Adapt Video Streaming
As mentioned above, companies are now using social media and live streaming to promote their brands, products, and services. They leverage technology in various ways to stay relevant.
Today, organizations use video streaming to enhance customer experience. For instance, they use it to troubleshoot their products and services when customers experience issues. In other words, businesses don’t need to send a technician to troubleshoot problems physically.
Music Streaming Tumbles Radio
Music has a considerable effect on people, especially the young audience. This group prefers to stream their music instead of listening to it through the radio. Some of the reasons for this massive switch from radios to streaming are:
- No DJs
- No Lengthy advertisements
- No time checks
- No need to request songs
- Streaming allows you to choose multiple titles and play them on your devices.
Millennials and baby boomers spend significant time streaming music and listening to podcasts instead of listening to the radio. Thus radio listeners among the senior and younger audiences have dropped significantly as the majority have switched to music streaming.
The article has highlighted 5 streaming trends to expect in 2023 and beyond. Indeed streaming is the dominant technology of the 21st century. Businesses leverage video streaming to promote their products and services and conduct their events, including product launches, conferences, training, troubleshooting issues, etc.
Streaming is not confined to videos only. Platforms such as Spotify use it to showcase their music. Indeed music streaming platforms are taking advantage of the multiple weaknesses the radio has to demonstrate their strength.
There are multiple applications for streaming trends in 2023. Consumers and brands can ride on them, and they will be fine.