Streaming video services consumer adoption is increasing offering major boost to Market leaders like Netflix and Amazon Prime instant Video. Their growing entertainment hunger is all set to take its subscriber numbers grow from 92.1 million in 2014 to 333.2 million global subscriptions.
Connected TVs and streaming media devices like Amazon’s Fire TV Stick and Chromcast are driving this adoption. It will be further connected with game consoles and set top boxes which offer streaming video as pre-loaded service. Research firm doesn’t believe that smart TVs are playing any role in its growth. It sees Netflix and other services as a TV feature. These smart TVs often offer poor user interface and operating systems.
Newer streaming media devices have made favorite program or movie watching accessible to big screens of living room TV. They have simplified being connected process and have also sold price points so low. Chromecast is $35 and Fire TV Stick is $39.
The biggest advantage with present available devices is that its can turn their dumb TVs into smart, connected devices. With TV sets long lifecycle this has enabled number of consumers to make it a part for their regular TV viewing aspect. Consumers growing interests in streaming media is not giving jitters to traditional TV industry. The cable companies are attracting potential cord cutters and those no longer interested in large and expansive cable TV packages with their new services.
Verizon which recently introduced a la carte programming package where consumers are selected from channels featuring kids or sports. This can be used with hot water with TV providers like Fox sports and ESPN. Cablevision, have announced packages for cord cutters including options for HBO. Dish network is running an internet is running an internet based streaming TV services called sling TV.
Junipor says that spike in consumer adoption of these streaming video services will be led by North American market growth. In fact, Netflix is planning to expand in China by partnering with Chinese name like Wasu media holding which is owned by Alibaba group founder Jack Ma.
It is o be noted that Amazon Prime Instant Video and Netflix were subscription based services which will not show advertisement. It Hulu are new services in Asia and are enjoying their services. According to ad spend on video on demand will grow fourfold by 2019 with Far East and China will be leading the segment.