Breaking Into the Video Streaming Industry – What You Need To Know?

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.

Surprising, right?

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
• Hulu
• Netflix
• Disney Plus
• Apple TV plus
• Peacock

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

Who has the largest market share in the video streaming industry?

According to a survey, the market share of Netflix on the U.S video streaming market decreased from 29% to 20% in 2020 due to the emergence of some new platforms like HBO Max and Peacock.

However, according to Statista, Netflix leads the Video streaming industry which is followed by Amazon Prime with 16% market share

Video streaming industry growth

Why is the video streaming industry growing?

People nowadays got adapted to low latency streaming videos and live streaming videos on social media platforms.

All these factors led to the surge in growth of the video streaming industry

Also, the streaming platforms allow users to select functions and content they need so that they can pay for only those services and can neglect the payment for the programs that they are not interested in

On the whole I can say that convenience, scalability, personalized content, and affordability are the main reasons for this great shift towards video streaming platforms

What are the key success factors in the video streaming industry?

Content and User experience serve as the key factors determining the success of a video streaming service.

Massive growth of online videos and rising demand for on demand videos are the main growth drivers for this video streaming market.

Video streaming industry trends 2022

• Upsurge in OTT user penetration – It will climb 35% by 2025
• 5G will greatly revolutionize the video streaming sector
• Demand for the premium content will ascend in the upcoming years
• Hyper-personalized video streaming platform that keeps viewer experience in the forefront will make a striking difference

Study on Video streaming app

Which app is best for video streaming?

• Amazon prime video
• Netflix
• HBO Now
• Vudu
• Fubo
• Wowza Gocoder
• Hulu
• Twitch
• Disney+Hotstar

Video streaming apps – A quick comparison

To know more about the Netflix app, you can take a quick look at the Netflix Statistics blog to understand its key facts and statistics.

Key elements of a successful video streaming app

• High quality content with the support of multitude of languages
• Device diversity – Content on screens of all sizes and shapes
• Data integrity
• Content management function

Video streaming app revenue and usage statistics

Shown below is the US Video streaming app revenue details over the years based on Businessofapps

Video streaming app usage details

Developing Video streaming app

How do you make a video streaming app?

• Decide on the content availability and the content that your app will stream to the users. Such as if your app’s streaming services will be related to entertainment, fitness, education, etc
• Pick the monetization model for your app, ie pay per view, advertising, subscription
• Study the requirements of the video streaming app
• Focus on developing on demand streaming service MVP
• After the launch of the Minimum viable product, gather feedback from the users through social media, email survey, and pools

How much does it cost to create a video streaming app?

The cost of developing a video streaming app depends on various factors such as

• App size
• Features and functionalities that are need to be included
• Scalability of the design
• UI/UX design complexity
• The App development company you choose and their hourly costs

How long does it take to create a video streaming app?

Similar to the cost, the time of developing a video streaming app depends on certain factors like

• Number of features need to be integrated in the video streaming app
• Complexity of the project
• The company and the team composition involved in the app development project

However, the approximate time to develop a video streaming product would take around 6 to 12 months.

You may wonder why it is taking that much time for building a video streaming app?

Whatever the app concept may be, if you decide to build it from scratch, it would take all of your time and resources. So you definitely need to look for an alternate and a smart way for building a video streaming app. I will explain about it in the next section

Role of clone scripts in developing video streaming apps

As I have mentioned already, developing an app from scratch will be really a tiresome process. So, the better option will be going for a readymade online solution of a popular video streaming app.

This is because a ready to use video streaming app solution will include all basic features and technologies for building a full-fledged video streaming app within your budget and in a short span of time

Final Thoughts

To conclude, the global video streaming market will grow at a Common Annual Growth Rate (CAGR) of 21% within the next six years.

So, investing your hard-earned money in the video streaming industry will help you obtain maximum ROI, and it is guaranteed!

Do you agree with the above statement? Or Have some contradictory opinions?

If you do have, Kindly mention them in the comment section.

Also, I want to know if the blog covered everything you need to know about video streaming sector? Or else you want some additional concepts to be included?

If so, then mention those sections that you want to explore about the Video streaming services in the near future. I will cover those topics in my next blog for you.

If You and I are on the same page, and you want to compete in this flourishing industry by launching your own video streaming app with some innovative features, approach us to turn your idea into an engaging video streaming platform to compete and shine in this thriving video streaming industry.