Streaming 'social distances,' but also brings the world closer than ever
Advances in streaming services now allow users to directly transmit media anywhere, at any time. In fact, the development of technologies such as artificial intelligence, 5G, and cloud all allow streamer providers to deliver optimal streaming services to their users. For instance, AI is allowing content producers to make quality content like never before. Moreover, cloud-based video streaming solutions are increasing the reach of video content, which is further influencing the market growth.
Regions in which digital technology is profoundly adopted are expected to witness the largest growth within the streaming service industry. And as the pandemic continues to put a strain on the worldwide economy, one side effect is the sharp increase in online streaming content consumption. While there is still uncertainty ahead, and it is unclear how soon society will get back to how things were before the pandemic, engagement with streaming services and year-over-year in-home data usage have surged in the beginning of May 2020.
Overall, according to data compiled by Grand View Research, the global video streaming market is expected to reach USD 124.57 Billion by 2025 while expanding at a CAGR of 19.6%.
In a report by Forbes, internet streaming and usage figures show that, as the pandemic placed a quarter of the world's population under lockdown, millions of people went online for entertainment and more.
"Total internet hits have surged by between 50% and 70%, according to preliminary statistics. Streaming has also jumped by at least 12%, estimates show." Data published by OMedia earlier in April indicates that increased consumption of digital content from mobile apps to TV and gaming also took place in China and Italy, with a possible increase in online traffic of as much as 50% in the two countries. Maria Rua Aguete, Senior Research Director, Video, TV and Advertising for OMedia, explained that "streaming services like Disney+ and Netflix have become the biggest winners during the lockdown as consumers have sought new entertainment experiences to keep themselves entertained. The content and user experience offered by these services have proven to be their key differentiators. In particular, the current catalogs offered by these services have become increasingly alluring to viewers, given than the pandemic has halted production of new video content."
AB International Group Corp. (OTCQB: ABQQ) announced last week breaking news that, "its film and TV show website ABQQ.TV (http://www.abqq.tv) is finishing construction, the beta begins testing procedure. ABQQ.TV engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry, will launch December 2020.
ABQQ.TV will feature movies, television shows and drama series produced almost entirely by the company and its hundreds cooperation partners. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model. Subscribers makes payment of subscription fee through PayPal. It will have a channel called "ABQQTV" broadcasting on YouTube and Netflix platforms.
More info as AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property.
"We are engaged to acquisition and distribution of movies. The Company has a Patent License to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People's Republic of China. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model."
Netflix, Inc. (NASDAQ: NFLX) reported recently second-quarter 2020 financial results. The report indicates that average streaming paid memberships in Q2 rose 25% year over year while streaming ARPU increased 0.4% year over year. The Company announced that they are slowly resuming productions in many parts of the world. It is furthest along in Asia Pacific (where we never fully shut down in Korea, for example) and are now shooting live action series like season 2 of our Japanese original The Naked Director. In EMEA, we are now back in production in many countries, including Germany, France, Spain, Poland, Italy, and the UK. While we recently resumed production on two films in California and two stop-motion animation projects in Oregon and expect some more of our US productions to get going this quarter, current infection trends create more uncertainty for our productions in the US.
AT&T Inc. (NYSE: T) recently announced the launch of HBO Max to tens of millions of its wireless, video and internet customers in the United States. "We couldn't be more excited to bring HBO Max and its incredible content to millions of our customers. Our top wireless, internet and video plans and packages now include your favorite shows and movies, all in one place with HBO Max - at no additional charge," said Thaddeus Arroyo, CEO of AT&T Consumer.
"AT&T has long been committed to ensuring our customers are connected and entertained, and HBO Max has something for everyone. It's yet another step we're taking to keep our customers connected to the world around them and the content they love."
The Walt Disney Company (NYSE: DIS) announced earlier in April that Disney+ has now achieved another new milestone, with 50 million paid subscribers globally within five months after its U.S. launch. Disney+ is the dedicated streaming home for movies and shows from Disney, Pixar, Marvel, Star Wars, National Geographic, and more. "We're truly humbled that Disney+ is resonating with millions around the globe, and believe this bodes well for our continued expansion throughout Western Europe and into Japan and all of Latin America later this year," said Kevin Mayer, Chairman of Walt Disney Direct-to-Consumer & International. "Great storytelling inspires and uplifts, and we are in the fortunate position of being able to deliver a vast array of great entertainment rooted in joy and optimism on Disney+."
Roku, Inc. (NASDAQ: ROKU) earlier back in July findings from its annual Cord Cutting study, including new insights shared by U.S. consumers about how the COVID-19 pandemic is influencing the shift to streaming.
The study found that approximately 32% of U.S. TV households do not have a traditional pay TV subscription (cable, satellite, telco), while another 25% of households identified as Cord Shavers cut back their service. When asked about intent to cut the cord fully in the next six months, 45% of Cord Shaver households said they were likely to do so. "While we entered 2020 with significant momentum around cord cutting, we're now seeing that the COVID-19 pandemic and the pause of live sports has caused consumers to rethink how they access home entertainment and what they are willing to pay," said Roku Chief Marketing Officer Matthew Anderson. "It's clear that value matters more than ever and the abundance of free content, free trials to premium streaming services and the savings that consumers achieve are fueling the shift to streaming."
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