What should we expect from the streaming industry?
2022 key players
Boosted by the restrictions triggered by the pandemic, the video streaming industry experienced ongoing growth during the last couple of years. This trend, according to statistics, is expected to reach 82% of Internet traffic by 2022.
We are witnessing a big paradigm shift in TV viewing, where the traditional format, as time goes by, fails in meeting the expectations of today’s consumers. The struggle of cable television is clear, the number of subscribers is dropping fast and the general perception is linked to an idea of a rather limited and old-fashioned alternative.
According to Statista´s report, it is expected for over 46 million US homes to cut off cable TV subscriptions by the end of 2024. People demand agile experiences along with a wide variety of content availability.
Gustavo Nunez, Managing Director for Southern Europe Media Division at Kantar, says: “2022 will reshape the industry. There will be some pretty seismic changes in terms of cookie depreciation and new consumer habits, therefore the industry will have to adapt and learn new strategies to succeed.”
Upcoming market trends include:
Better connectivity, as we mentioned before, in 2022 video streaming is expected to fulfill almost all of the internet traffic, a phenomenon that will be supported and empowered by the 5g standardization, which is directly in line with video consumption.
However, cable cutter subscribers won’t say goodbye, this decision follows a migration to OTT platforms, a place where advertisers are already settling and taking advantage of its business opportunities. A trend that will certainly keep growing in size.
With the rise in offer and demand for OTTs, it is also expected for providers to develop their own content, generate cheaper bundled packages and live events. On the other hand, the market will certainly experience specific niche demands that are already appearing today on the horizon.
These are some of the factors involved in the disruptive evolution that is predicted for next year and the ones yet to come.