Today, entertainment is no longer confined to appointment viewing on TV. The video streaming marketplace is becoming extensive and on-demand videos or binge-watching are turning out to be the greatest trend of this time. That is why streaming entertainment businesses are trying to reach out to their audiences through every possible medium, including smartphones, tablets, computers, and even on TV. This has lead to a high demand for TV app development.
We all would agree to this. The year 2020 is not just like any other year. The COVID-19 outbreak marked the downfall of various prospering businesses and the people associated with it. Retail, insurance, education, travel & tourism, fintech are amongst the industries that are most affected by coronavirus.
Whether a six-second bumper ad or a multi-minute compilation, videos have an amazing power to engage online audiences. Video marketers say that video content helps them with lead generation, gives them a good ROI, helps in increasing website traffic, and improve sales.
Yoga, the ancient health discipline is gaining popularity and acceptance, globally. It’s attaining a significant space in the wellness industry. If we specifically talk about the United States, there are 55 million people who practice yoga. In fact, Yoga and Pilates are two of the fastest-growing disciplines to achieve holistic health.
The tremendous rise in the demand for audio and video content streaming, has made Over-the-Top (OTT) apps an unavoidable part of entertainment businesses. It’s not just the entertainment industry that’s making the most of OTT apps, other industries, such as education, gaming, health & fitness, etc. are realizing the benefits of streaming audio/video content over the internet, rather than the traditional broadcasting mediums (like satellite).
COVID-19 has introduced us to what was known as the ‘Virtual World’ and now is the reality we live in. The at-home workout sessions inspired virtual fitness studios, on-demand streaming apps encouraged virtual movie theatres, team collaboration tools created virtual workspace. Similarly, the eLearning platforms have created virtual classrooms that have been strongly backing the education system during the COVID-19 outbreak.
The COVID-19 pandemic has created a big void in the film industry and certainly, the road back to normalcy will be a long one. Film exhibitors are unsure of how long it will take for the customers to return to a crowed, enclosed space, even after the stipulated ease in lockdown restrictions.
About a decade ago, we have seen the big-box gyms dominating the fitness industry. In about $50/month, people used to get everything they needed to break the sweat. Today, the boutique studios have changed the face of fitness by bringing in unique ways of staying fit, such as Yoga, indoor cycling, boxing, Zumba, etc.
The Over-the-Top (OTT) market is thriving. Globally, online streaming service subscriptions have grown from 150 million in 2014 to over 600 million in 2019. Subscribers are expected to grow to 1.1 billion by 2021.
Online videos are a go-to source for entertainment, inspiration, education, information, and a lot more. With videos gaining ground, different platforms to stream videos are brought to market to reach the viewers. Video-on-Demand (VoD) and Live Streaming apps are two of them.