A recent Strategy Analytics study, “TV’s Transformation: A Unified TV and Video Market Perspective”, predicts that consumer and advertising spend on TV and video is going to increase markedly - and that this increase, from USD 490 billion in 2017 to USD 559 billion in 2022, will happen in large part due to over-the-top services (translating, according to the research, into up to 90% of the growth).
The entertainment - and particularly television - landscape was undoubtedly ripe for disruption before streaming video became a fact of life. A number of consumer surveys from the last 20 years concur: Americans (in particular) hate their TV subscriptions, and moreover, hate the cable companies that offer them. Across multiple industries, year after year, cable TV and internet providers rank near the bottom of customer satisfaction polls.
The verdict is in: Americans are spending increasing amounts of time each day consuming different forms of media - a growing amount of it streaming video. Eleven hours a day, according to Nielsen - yes, you read that right: 11 hours. US adults are consuming media every day in one form or another for about two-thirds of the average adult’s waking hours, for those counting. Similar content consumption patterns hold true for audiences/users everywhere.
The future of streaming - and of the internet itself - is video. We've been saying it repeatedly for a long time, and anecdotally, we see companies and organizations across industries adopting more video and using it in new, creative ways. Video has saturated the landscape.