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Why the demand for TV streaming services is expected to grow over the next few years

Why the demand for TV streaming services is expected to grow over the next few years

Consumption of digital media is increasing worldwide and video and live streaming play a major role in that.

The broad access to the world’s latest technology, coupled with its rapid development, makes it easier for people to take advantage of it and use it extensively.

Not only the internet connection – especially the speed and stability – but also the quality and performance of our devices is better than ever before.

We can already see that TV streaming and video streaming services are slowly replacing the old-fashioned TV channels and cinemas.

The demand for TV streaming services is expected to grow over the next couple of years, but let’s dive deep and see what’s the reason behind this?

The growth of the video streaming market

High-Def-Video-Streaming Services

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According to the BlueWeave Consulting report, the global video streaming market was worth $ 60 billion in 2021 and is expected to rise to $ 213 billion over the next six years.

What can we attribute to it?

First and foremost – technology. It is said that only in 2020 for 60% of internet traffic were online videos.

While commuting to work on public transportation, researching topics, attending webinars, or just resting at home after a long day – people used power services in a variety of ways.

What is worth noting is that this trend goes hand in hand with the increase in popularity of cloud-based solutions, which gives the videos good quality and security.

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It provides a better way to share the data – send or receive files, as well as organize them and make sure that if something goes south, there will be a backup securely stored in the cloud.

More and more companies are choosing cloud-based solutions over those implemented on-site because of it.

Live streaming in the entertainment industry

Perfect quality streaming is so important to us these days

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Live streaming is especially popular in the entertainment industry, but why is it so?

First, it’s very interactive, and that’s what draws people in.

They can interact with each other in different ways during the stream – via comments or chat, sometimes even by using the voice.

It makes the whole experience much more immersive.

It’s a great way for a celebrity to interact with their fans. For example, it is widely used among K-pop idols who meet their fans in real time on the web site.

Another example might be the world of online casinos.

Today, they offer their users many different, interactive formats – along with live streaming – that allow players to not only watch a game, but to play it in real time while maintaining good video quality.

They can chat with dealers and other players from all over the world.

And all this from the comfort of their own home to the time that suits them best. As a result, we can see almost constant growth in the popularity of online casinos.

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Live streaming in video games

We have already entered the world of online sports, which is almost within the gaming industry as a whole.

Online streaming in the gaming community is flourishing – more and more people are taking up and watching how other players play the games.

Some do it for entertainment, and for some it became a job that often started as a hobby.

But not only individuals are interested in streaming games. Giants such as Netflix, which is considering using this market – and according to Reuters – are also thinking about starting a streaming service for video games.

It’s about convenience

Online Video Streaming

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We have already touched on the benefit of accessing what we want from the comfort of our four walls, but there is more to it.

The convenience of TV streaming services is evident not only in the ability to watch something from home, but to watch it whenever you want.

People are no longer tied to any TV channel program – they do not want to miss a show or wait impatiently for the commercial break to get a bite to eat or go to the toilet.

They can pause, rewind or fast forward – they are the ones who make the shots. And speaking of advertising breaks – there are none on the TV streaming platforms.

They are also no longer tied up in long b-contracts and 140 channels – the streaming services usually process the payments by connecting the user’s account to a debit or credit card, and therefore the subscription can be canceled at any time at no extra cost.

And to make life easier for their customers – or should we say the customers – before the subscription, they offer a free trial period, so that the service can be tried out before they commit.

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Not just entertainment

It is also worth mentioning that live streaming is also widely used in other ways, such as webinars or online courses.

Once again, due to the advanced technology and fast internet connection, we can attend a real-time webinar from London while currently living in Seoul.

Distance is no longer a barrier.

And the power services often allow recording and playback of it afterwards, which makes it very convenient, and also acts as a backup plan in case of problems such as poor connection or power failure.

The streaming can often be seen again with little or no stress.

What do you think of this story? Let us know in the comments below or on our Facebook, Twitter or Instagram pages! And if you enjoy listening to movie podcasts, why not check out our podcast, The Small Screen Podcast, wherever you find your podcasts!

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