There were days when I used to sit long hours before the screen and binge watch my favorite shows as night slips into dawn and next day beckons.
Today, millions of people used to consume their preferred series in this way through video streaming apps.
The proliferation of video streaming services over these years made it very easy for people like me to kill some time throughout the day, to distract from boredom, negative thoughts, etc.
Covid-19 lockdown has massively accelerated the demand for these video streaming services more than ever before. So, knowingly or unknowingly we eventually got addicted to video streaming.
Do you want to hear much more exciting facts about this flourishing sector? If yes then I would like to bring some interesting video streaming industry statistics before your eyes
- The number of users in the video streaming segment is expected to reach 1486.8 m by 2026
- Revenue in this segment is projected to reach $82.43 billion by the end of this year
- Revenue is expected to show a growth rate of 8.89% and a market volume of $115.90 billion by 2026
- User penetration is expected to hit 18.9% by the year 2026
Really awe-inspiring facts, isn’t it?
If these stats kindled interest in you to know about the global video streaming industry in depth, then this blog is fully for you. Get ready to explore the video streaming world!!
Video streaming industry overview and statistics
What is video streaming business?
It facilitates the streaming of videos on demand, in other words, video streaming service is an online entertainment source for movies, TV shows, etc that are provided on demand.
These businesses provide video streaming services at comparatively lower costs than cable and satellite on demand services
Who are the major players in the video streaming industry?
I hope you will have an idea on this. Right? However I will give you a glance of some key players in this sector.
- HBO Max
- Disney Plus
- Apple TV plus
How much is the video streaming industry worth?
In 2021, the Global video streaming market size was valued at USD 59.14 bn.
By 2028, the industry size is predicted to reach USD 932.29 bn and USD 1690.35 billion by 2029.
It is expected to increase at a compound annual growth rate (CAGR) of 21.3% from 2022 to 2030
You can also refer to GlobeNewswire to know more about the video streaming industry market growth details