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Media (R)evolutions: The video streaming boom continues

Darejani Markozashvili's picture
New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.

It is estimated that online video will be responsible for much of the increase in Internet traffic, which is projected to grow by 260% until 2018. According to a report by Cisco, video traffic accounted for more than half of all mobile data traffic (60 percent of total mobile data traffic) in 2016. The same report also stated that “More than three-fourths of the world’s mobile data traffic will be video by 2021, with a 9-fold increase between 2016 and 2021, accounting for 78 percent of total mobile data traffic by the end of the forecast period.”
 
 

Note: Figures in parentheses refer to 2016 and 2021 traffic share.

Source: Cisco VNI Mobile, 2017

The Internet continues to have a huge impact on distribution and consumption of media, as global media consumption preferences are shifting toward digital formats. With increase in access and speed of Internet the upward trend of online video streaming services such as Netflix, N Play, Hulu, Apple TV, Roku, Boxes, and Amazon videos continues. Not only do streaming services offer ease of access to consumers with no storage requirements, they are also better suited to consumer demand and preference. The video streaming boom will likely continue as these companies expand globally and tap into new markets. Most recently Netflix announced that it will introduce original content in China via a licensing deal with iQiyi.com, one of the largest video streaming services in China.
On demand video streaming services are also having an impact on global media consumption habits. The new buzzword now is “binge-watching” or “binge-viewing,” defined as a practice of watching TV for extended period of time, usually in a single sitting. With various video streaming companies offering often unlimited access to shows/movies etc. this habit of binge-watching will likely stick around. This word created such a buzz that in 2015 Collins English Dictionary chose “binge-watching” as its Word of the Year. Do you binge-watch?


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