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Shift in Consumer Preference of Entertainment to Augment the Demand for OTT Subscription Video on Demand

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Published on : Nov 30, 2017

ALBANY, New York, November 30, 2017: The global OTT subscription video on demand market has been minutely observed and examined in a market research report by ResearchMoz.us, bearing the title “Global OTT Subscription Video on Demand (SVOD) Market: Size, Trends and Forecasts (2017 -2021)” The 81-page report has provided a extensive overview of the market along with a detailed study of the categories of global paid video content market, global OTT subscription market, and global OTT SVOD market. Each and every segment has been meticulously and comprehensively analyzed in the report to offer a deep insight into the market.

The competitive trends and situation prevalent in the global OTT subscription video on demand market have been expansively detailed in the publication. In the same section, it has placed importance on mergers and acquisitions, expansion, market shares of top three and five companies, and the market concentration rate. It has also analyzed the competition in the market as per various elements deemed significant on the part of manufacturers, viz. average price, product type, revenue, sales area, production, manufacturing base distribution, and shares between 2015 and 2016.

According to this report, the market of global OTT subscription video on demand is forecasted to obtain a sizeable amount of revenue by 2024 exhibiting a fairly high CAGR. Much of the growth is attributed to change in consumer preference for entertainment. These days, consumers want more experience of personalized video viewing thereby revolutionizing the services of video streaming.

Paid services that enable viewing of video content based on personal preferences are gaining momentum and are coming with various types of content to cater to the viewing preferences of the consumers. Earlier and even now in many regions, consumer were made to pay for a bundle of video content with no regard for their choice. But with the advent of OTT subscription video on demand, consumers now pay either for an advertisement-free or with minimal advertisement particular series or video to the provider. 

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The category of paid video content comprise Physical Disc Home Entertainment, OTT TV, MVPD, OTT Live Video Transaction, Theatrical Box Office, OTT SVOD, and Digital Home Entertainment.

Increasing penetration of internet across the globe has also been another contributing factor for the global market of OTT subscription video on demand. The regions where internet penetration is not as high as western countries serve as opportunities for the global OTT subscription video on demand market. 

However, the global OTT subscription video on demand is faced with some challenges as well that restrain its growth. Censorship, low speed of internet, and most common issues of pirated content is forecasted to mar the growth of this market. Low speed of internet affects video streaming in several parts of the world. Content piracy has been much of an issue owing to it worldwide prevalence 

The global market of OTT subscription video on demand is dominated by North America and Europe owing to the maximum usage and penetration of internet in these regions. These regions are expected to dominate the global OTT subscription video on demand market throughout the assessment period as well.

However, Asia Pacific and Latin America offer ample opportunities owing to its increasing GDP, increasing penetration of internet. Internet is being made available even in remote areas to various government initiatives. Thus the region serves as a lucrative market for OTT subscription video on demand.
Some of the key players that have been evaluated in the report are Netflix Inc., The Walt Disney Company (HULU), and Alibaba Holding Group. Each of the manufacturers profiled in the report has been carefully assessed on the basis of several factors such as price, market share, capacity, revenue, and production. The section has also provided a basic overview of each of these companies, including their competitors, specifications, applications, and products.

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