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Albiorix Technology is a Australia-based IT consulting and software development company founded in 2018. We are a team of 100+ employees, including technical experts and BAs.
Founder & CEO
Published On: Apr 17, 2024
Compared to the traditional movie theatre experience, people are now obsessed with watching movies on OTT platforms such as Netflix, Hulu, Amazon Prime, and more. You might be wondering what OTT is, how it came into existence, and why it has gained so much popularity. Here are the answers to these three major questions that may be bubbling in your mind.
OTT stands for “Over-The-Top” and refers to the delivery of video, audio, and other media content over the Internet without the need for traditional cable or satellite television subscriptions. Examples of OTT services include Netflix, Hulu, Amazon Prime Video, and Disney+. These platforms allow users to stream content directly to their devices over an internet connection, bypassing traditional broadcasting methods.
OTT services began to gain significant traction and popularity in the late 2000s and early 2010s as internet connectivity improved globally, and streaming technology advanced.
The first notable OTT platform was Netflix, which launched its streaming service in 2007, marking a significant shift in how people consume entertainment media.
OTT platforms have gained immense popularity in the 21st century due to factors such as widespread internet access, advancements in streaming technology, diverse content offerings, and the convenience of on-demand viewing. Moreover, you can also consider the smartphone revolution as one of the key reasons for the popularity of video-streaming apps and websites.
Streaming technology is the backbone of every online video you enjoy on OTT platforms like Netflix and Amazon Prime. Essentially, a video streaming application enables users to participate in events irrespective of their location or access video content online without downloading it to their devices.
Video streaming represents the internet’s evolution of traditional TV broadcasting, offering significantly more accessibility. Businesses across diverse industries stand to gain substantial benefits from investing in media streaming app development – streaming has proven to be one of the most efficient and user-friendly methods of engaging with your target audience.
In this blog, we delve into the essential concepts and critical insights you need to grasp before venturing into the development of a customized streaming application. Let’s dive right in!
Ready to launch your own custom video streaming app? Reach millions of viewers worldwide and showcase your content in style!
A video streaming application encompasses both the software and hardware necessary for transmitting video content to viewers globally. This includes live streaming applications, which facilitate the real-time transmission of videos as they are being captured. Due to the inherently large size of video data, specialized technology and devices are required to ensure smooth streaming experiences.
An advanced video streaming application will include:
Video streaming has a wide range of applications across various industries. It is commonly utilized to facilitate virtual events, online education, sports broadcasts, concerts, and local government meetings. Marketing and sales teams leverage video streaming for pitches, product demonstrations, and explanatory videos, aiding consumers in comparison shopping. Additionally, the healthcare sector is increasingly adopting live video streaming app development for remote patient monitoring.
Video streaming apps can be categorized into four distinct types, each requiring specific considerations in terms of the relevant technology stack. These categories include subscription-based streaming apps like Netflix, MwareIPTV and Amazon Prime Video, which offer a vast library of content for a monthly fee. Ad-supported platforms such as YouTube provide free access to a wide range of videos supported by advertisements.
Live streaming apps like Twitch focus on real-time broadcasting of events and gaming sessions, fostering interactive viewer engagement. Hybrid platforms such as Hulu combine subscription and ad-supported models, offering users a mix of content access options. Understanding these different types is crucial when determining the appropriate technology stack for developing and maintaining each type of streaming app.
Each type of video streaming app caters to distinct user needs and viewing preferences, contributing to the dynamic landscape of digital entertainment. If you are planning for the best Video Streaming App Development with unique concepts and premium features, then talk to our team of video streaming app developers.
Stand out in entertainment by bringing unique content to your audience’s screens. Our team can help create a cutting-edge video streaming app.
While Artificial Intelligence may not make as much noise in some industries, its impact is undeniable. AI’s integration into various sectors, including the Video Streaming industry, is reshaping operations and tasks, promising transformative outcomes in how we discover, consume, and create video content.
Leading video streaming platforms like Netflix have embraced AI technologies, reaping significant benefits. By leveraging AI, Netflix has witnessed an 82% increase in viewing hours. Their AI algorithms are finely tuned to deliver precise content recommendations, ensuring that viewers find what they want effortlessly. Through extensive analysis of user data, personalized suggestions are curated, resulting in a notable 20% rise in user engagement and a 15% decrease in churn rates for platforms. This not only enhances the viewing experience for audiences but also streamlines content delivery for providers.
As AI continues to evolve, its impact on the Video Streaming industry will likely deepen, offering more tailored experiences and refining content delivery mechanisms across platforms.
As we move into 2024 and beyond, the world is poised for an unprecedented binge-watching phenomenon! Video streaming platforms are set to witness an explosion in viewership in the coming years. Recent statistics highlight this trend vividly: a staggering 98% of Americans are currently subscribed to at least one streaming service, with the average user managing an impressive 3 subscriptions simultaneously.
Moreover, the survey suggests a significant shift in viewer preferences. Modern audiences are actively seeking out diverse genres and niche content for their streaming fix. This insatiable appetite for varied content is driving substantial platform growth, with projections indicating that global Over-The-Top (OTT) market revenue will soar to $300 billion shortly.
The surge in viewership isn’t limited to established markets; emerging regions like Asia and Latin America are witnessing explosive growth rates. Viewer numbers in these areas are skyrocketing, with a remarkable 25% increase in Asia and an impressive 30% surge in Latin America. This surge not only signifies a growing global audience but also presents exciting opportunities for content creators and platforms to cater to localized tastes and languages, further enriching the streaming landscape.
We are currently immersed in the internet era, empowered by incredible handheld smartphones that simplify tasks and keep us on the go. However, the impending arrival of the 5G revolution is set to elevate everything to new heights. This shift in internet speed is poised to revolutionize the video streaming industry, offering unparalleled opportunities for growth and innovation.
The advent of 5G networks promises blazing-fast speeds, ultra-low latency, and broader coverage at a reduced cost, fundamentally transforming how we consume and create video content. But what does this mean for end-users and OTT subscribers? Users can seamlessly stream 4K and 8K videos without a single buffering interruption. This is the magic of 5G, with download speeds up to 20 times faster than 4G networks. For video streaming entrepreneurs, the benefits are equally compelling—the time required to upload videos is set to decrease significantly, streamlining content delivery processes.
The advent of the 5G revolution heralds more than just the ability to watch videos in stunning 4K and 8K resolution—it unlocks immersive video experiences like never before. Imagine stepping into live, 360° concerts where you feel as if you’re standing right on stage, thanks to the convergence of AR and VR technologies in the video streaming industry. With AR and 5G, you’re placed at the heart of the action, making every moment feel real and captivating.
Exciting developments such as Apple’s Vision Pro, Meta’s Quest 3, and a host of upcoming AR-VR headsets are turning these immersive visions into tangible realities. Apple Vision Pro, in particular, extends beyond AR-VR boundaries, ushering in the era of spatial computing, where digital and physical worlds seamlessly blend.
If you’re considering taking your streaming platform to platforms like Apple Vision Pro or Meta Quest 3—or any other cutting-edge platform—now is the perfect time to do so! With Albiorix Technology by your side, creating your streaming app without coding complexities is within reach. Get in touch with Video Streaming App Development experts for a free consultation and discover how you can ride the wave of immersive experiences in the evolving streaming landscape.
Gone are the days of limited free entertainment options as ad-supported streaming (AVOD) takes centre stage with a meteoric rise in 2024. In 2023, AVOD surged to an astounding USD 64.56 billion, setting the stage for a phenomenal growth projection of 25.8% in 2024. This trajectory points to a substantial market value of nearly USD 81.2 billion for ad-supported streaming, solidifying its position as a formidable player in the streaming landscape.
Feeling tired of mounting streaming bills? You’re not alone! A significant number of viewers are opting for free or ad-supported options, reflecting a shifting trend. Recent data shows that 43% of U.S. households are subscribed to at least one AVOD or HVOD (Hybrid Video-on-Demand) service, highlighting the widespread appeal of these accessible and cost-effective streaming models.
The rapid ascent of AVOD signifies a paradigm shift in consumer preferences, emphasizing the importance of diverse and affordable streaming options in today’s digital entertainment era.
Launch your own streaming service with our app development solutions and reach your audience on their favourite devices.
As we look ahead to the coming years, the video streaming market is poised to undergo significant transformations, embracing diverse monetization strategies, specialized content niches, AI technologies, and immersive streaming experiences. Post-2024, video consumers will increasingly seek tiered subscriptions that offer personalized and tailored content experiences.
This shift in consumer preferences will drive the adoption of microtransactions for specific content and deeper integration of advertising across platforms. Industry experts predict a substantial growth in ad revenue, with projections reaching USD 65.6 billion by 2027.
Data forecasts also indicate a remarkable 20% global growth in internet users by 2026, catalyzing a surge in content creation endeavours. Studios and content creators will invest heavily in AI-driven scripts and data-optimized productions to meet the rising demands of a more discerning audience.
Presently, mobile devices account for 70% of viewing time, a figure expected to rise to 80% by 2028. In response, streaming platforms will prioritize the delivery of bite-sized content, seamless cross-device compatibility, and enhanced offline viewing options to ensure a seamless and accessible viewing experience across different devices and scenarios.
These anticipated industry shifts highlight the dynamic nature of the video streaming landscape and emphasize the importance of innovation and adaptation for players aiming to thrive in the evolving digital entertainment realm.
At Albiorix, we specialize in video streaming app development, crafting bespoke solutions tailored to your vision. Whether you aspire to create the next Netflix, Hulu, Amazon Prime, or a unique streaming platform, our team of experienced app developers is here to bring your ideas to life. Take advantage of our free quote and consultation services to kickstart your streaming app journey today.
Let’s collaborate to transform your streaming app concept into a successful reality. Contact us now to get started! You can also share your ideas with us through LinkedIn and Facebook.
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