Revenues For The Video Streaming (SVOD) Market Could Exceed $51 Billion This Year
FinancialNewsMedia.com News Commentary
12 Nov, 2020, 09:20 ET
PALM BEACH, Fla., Nov. 12, 2020 /PRNewswire/ -- OTT stands for over-the-top, initially named in reference to devices that go "over" a cable box to give the user access to TV content. In OTT channels, content is delivered via an internet connection rather than through a traditional cable/broadcast provider. OTT and video are intertwined, but they are not the same thing. OTT is just a different channel through which video content (and related display or video advertisements) is delivered to end users. OTT may be defined differently by the various partners involved in the delivery, advertising, and measurement streams. OTT, as defined by OTT content providers (e.g., Hulu, SlingTV, etc.), may include any users accessing OTT content via any device (desktop, mobile phone/tablet, OTT devices, etc.). However, OTT may also be defined strictly on the basis of the device used to access the content. Examples of OTT devices include Apple TV, Chromecast, Amazon Fire, Roku in addition to Smart TVs (Connected TVs) and gaming platforms (i.e., PlayStation, Xbox, etc.). How advertising inventory is measured/categorized depends on the partners involved in the respective OTT supply chain. Active Companies in the industry include Liquid Media Group Ltd. (NASDAQ: YVR), Unity (NYSE: U), Netflix, Inc. (NASDAQ: NFLX), BCE Inc. (NYSE: BCE) (TSX: BCE), ViacomCBS Inc. (NASDAQ: VIAC).
According to a recent report from Grand View Research said that the global over the top devices and services market size was valued at USD 56.40 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 18.6% from 2020 to 2027. The report stated that: "The substantial growth of the media and entertainment industry and the increasing demand for high-quality streaming content over smart devices are some of the critical factors driving the industry. The OTT media services offer higher accessibility, connectivity, convenience, and portability compared to traditional cable and satellite services. Additionally, the deployment of advanced technologies by service providers and the provision of customized content has created immense attractiveness for the industry and is expected to accelerate the revenue generation over the next seven years."
Liquid Media Group Ltd. (NASDAQ: YVR) BREAKING NEWS: Liquid Media Expands Slipstream Distribution Potential Built Upon The Unity Platform - Liquid Media Group Ltd. (NASDAQ: YVR) (the "Company", "Liquid Media" or "Liquid") is pleased to announce the expansion of its Slipstream action-adventure sports content using the Unity real-time development platform. Unity allows independent filmmakers through Slipstream to attain widespread distribution across more than 20 popular global platforms such as Windows, Mac, iOS, Android, PlayStation, Xbox, Nintendo Switch, leading AR and VR platforms and Smart TVs. Slipstream's new platform, allowing global distribution with access to major media devices, is transformative for the Company.
In the past, filmmakers were frustrated and constrained by their inability get distribution and to monetize their work. Slipstream allows moviemakers to cut out third parties who previously were necessary to acquire and access distribution platforms. With Slipstream filmmakers submit films themselves and keep 70% of rental revenues, much more than previously paid. Filmmakers get easier and faster distribution and a larger cut of rental income than traditional existing distribution channels.
Building on the golden age of streaming content, Liquid has commenced native application development for Slipstream through Unity to enable integration to third-party consoles and devices, with Polycade as the first gaming console to be deployed. Enabling video-on-demand, games, subscription and 360 degree Virtual Reality experiences on a variety of platforms further expands Liquid's philosophy to be a digital studio for all platforms. Unity Technologies is recognised as an industry leader for cross-platform content distribution.
"Unity's platform gives Liquid access to the most popular content platforms TV, Phones, Game consoles and computers and is a crucial next step for Liquid. We believe it will increase Liquid's film distribution profile and provide more functionality for our content and apps" said Daniel Cruz, CFO & Co-founder of Liquid Media. "Our goal is to help filmmakers to gain control of how their movies are distributed and monetized."
Slipstream - The Netflix for adventure outdoor films. The site includes hundreds of action sports films with categories such as surfing, snow sports, rock climbing, kayaking, mountain biking, running, environmental documentaries and festival winners.
Reelhouse - Reelhouse is an online video community that provides filmmakers complete control to self-distribute content directly to their viewers. Filmmakers access the latest monetization, social, and showcasing features, which in turn engage viewers in what Reelhouse is setting as the new standard for online viewing experiences.
Polycade - In partnership with Tyler Bushnell's Polycade, the connected arcade platform invented by the son of Atari co-founder Nolan Bushnell, which enables retro-enthusiasts to play classic games in the 21st century. Polycade is the only arcade machine that's been designed for classic and modern games, giving you the ability to play everything from the best new indies, retro classics, or the most graphics-intensive modern fighters. Read this in its entirety and more news for YVR at: https://www.financialnewsmedia.com/news-yvr/
Other recent developments in the media industry include:
Unity (NYSE: U) announced it will release third-quarter 2020 financial results after the market close on Thursday, November 12, 2020, with a webcast to follow at 2 p.m.PT/5 p.m.ET. The webcast can be accessed at the Unity Investor Relations website along with the company's earnings press release, financial tables, and slide presentation. A replay of the webcast will be available on the Investor Relations website.
Beginning at the opening of trading on Monday, November 16, 2020, and ending at the close of trading on Tuesday, December 15, 2020, Unity employees, former employees, directors, and officers are permitted pursuant to the terms of the lock-up agreements that they have entered into with Goldman Sachs & Co. LLC and Credit Suisse Securities (USA) LLC, as representatives of the Underwriters for Unity's recent initial public offering, to sell up to 15% of the shares of common stock issuable upon the exercise of vested options held by them (an aggregate of approximately 3.2 million shares).
Netflix, Inc. (NASDAQ: NFLX) recently has released its third-quarter 2020 financial results by posting them to its website. Please visit the Netflix investor relations website at http://netflixinvestor.com to view the Q3'20 financial results and letter to shareholders. A video interview with Netflix co-CEO Reed Hastings, co-CEO & Chief Content Officer Ted Sarandos, Chief Financial Officer Spence Neumann, COO & Chief Product Officer Greg Peters and VP, IR & Corporate Development Spencer Wang is also available. The interview was conducted by Kannan Venkateshwar, Barclays Capital.
Netflix is the world's leading streaming entertainment service with 193 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.
BCE Inc. (NYSE: BCE) (TSX: BCE) - Bell is wholly owned by the company, recently announced its 4G and 5G wireless networks have been ranked #1 in PCMag's 2020 Fastest Mobile Networks Canada, the prestigious annual study of network performance across the country. "After extensive testing in Canada, PCMag.com found that Bell offered faster, more reliable connection speeds in more cities than any other Canadian carrier," said Dan Costa, Editor-in-Chief, PCMag.com. "Our tests also show that Bell customers who upgrade to a 5G phone will see a big boost in network performance."
"The Bell team is proud to once again take PCMag's top spot with Canada's fastest national 4G and 5G networks," said Claire Gillies, President of Bell Mobility. "Our industry-leading investments in network speed, quality and coverage are delivering outstanding performance, and building on Bell's goal to advance how Canadians connect with each other and the world."
ViacomCBS Inc. (NASDAQ: VIAC) (NASDAQ: VIACA) recently reported financial results for the quarter ended September 30, 2020. "As we near the first anniversary of the ViacomCBS merger, I'm thrilled about the way our organization has come together to realize the power of the combination and seize our unique global opportunity in streaming. This quarter, we achieved strong user growth across our streaming platforms as we continue to build our linked ecosystem of pay and free services – with big steps taken, including the preview and brand reveal of Paramount+ ahead of its launch in early 2021, and more recently, the unification of our global streaming organization. Our company's transformation is ahead of schedule and we are incredibly excited by the opportunities ahead."
ViacomCBS is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the US television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.
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