Media Streaming Market Forecasts 2021 - 2026

Date5/11/2021 5:33:25 AM
Bharat Book Bureau Provides the Trending Market Research Report on "Media Streaming Market 2021 by Company, Regions, Type and Application, Forecast to 2021 - 2026 "under Media Industry Analysis Report Section. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.

The Media Streaming Market is expected to grow at a CAGR of 23.2% during the forecast period (2021 - 2026). The growth of the market is fuelled by the growing demand for subscription-based services, increasing availability of region-specific and original content, and popularity of live sports. These drivers are changing the strategies adopted by the vendors in the market as the emphasis on enhanced customer experience by providing personalization, and low-cost services are increasing day by day.

- Netflix offers its most basic plan starting at USD 8.99 per month and USD 12.99 for its high-definition service. Amazon Prime customers can get an annual membership for USD 119 or pay USD 12.99 a month, while Hulu members pay USD 11.99 per month, and Disney+ is set to launch on November 12 for USD 6.99 a month. The market is, therefore, getting more competitive with such price wars and more and big players entering the market, such as Apple and Disney.
- Furthermore, rapid adoption of smartphones and cloud-based services, increased penetration of OTT platforms as compared to tradition pay-tv, and incorporation of AI and machine learning to help regulate live streaming and provide insights on consumer usage pattern, and partnerships to offer more and region-specific content has increased the growth of video streaming segment across regions. For instance, Netflix has 75,000 different content genres and provides personalized content for individual users through recommendation, which is possible due to the algorithms allowing it to do so.

Competitive Landscape

The media streaming market is highly fragmented owing to the presence of significant players in the market and growing competitiveness in the market. Vendors in the market are concentrating on providing high-value bundles, innovative features, and High quality, original and region-specific content to gain competitive advantage and improve market position by acquiring more customers. Vendors are also adopting partnerships and acquisitions to strengthen their place in the market.

- In June 2020, Youtube introduced a new feature named "Chapters" in enabling users to navigate longer videos. Previously users had to scroll through the navigation bar to locate a specific snippet from the video. Chapter thumbnails are instead visible at the bottom of the screen near the navigation bar showing timestamps.
- In April 2020, Apple Music announced it's expanded to 52 countries and territories to broaden service revenue streams for the company. The expansion brings Apple Music to a total of 167 markets, including 25 new African countries

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