~The latest Trend-Statement of Entertainment & Ine- vitable Start for Future STARTUPS

The outbreak of Covid-19 isolated the world and it tea- red apart the common string of connection by im- prisoning the citizens behind the drab walls of their houses. This major strike taught several things to us and made us realize the prowess of social media and internet. The long hours of lock down, has introduced us with WFH, online-education, tele-medicine and many more, which let us spend more and more time with our family and ourselves. As the immediate result of this social distancing, the priority of digital streaming has climbed many steps at once for all, as it gives us momentous pleasures and stress-free hours and made our leisure lively.

Audience is a homogenous mixture of different culture, taste, lifestyle and language, digital platforms and video streaming houses need to attach a common string through emotion and occurrences to gain popularity in this sea like market

With changing trend of the consumption of digital media, the popularity of digital streaming platforms is increasing with each passing day. Digital streaming is nothing but transmitting the digital contents over wired or wireless internet connection through few platforms which support the system. You just need a high-speed broadband connection and subscription of particular platforms to enjoy their live real time or recorded media content.

With the progressive steps of digitalization, the marketability of live streaming has risen up effectively. With the use of smart devices such as laptops, desktops, tabs or smartphones you can catch your favorite shows anytime and anywhere. Live broadcasting of sports, sward shows, and special one-time events those are broadcasted once. The digital streaming platforms offer flexibility of time which the convenient cable TV system couldn’t give. Disney-Hotstar which is a famous digital streaming app across the borders, broadcasts like sports events, news and simultaneously it broadcasts the recorded episodes of our favorite shows and movies against a yearly or monthly subscription. So, many video streaming startups are coming forth seeing this huge profitable market.

Why digital streaming is trending recently?

After spending the lockdown period people got accustomed to stay at home and when a continuous flow of entertainment is available every time, everywhere, then why not utilize it. After surveying the recent trend, 7 out 10 people across the globe like to watch web-series and movies on Netflix or Amazon Prime rather than spending so much of money over movie tickets and an expensive bucket of popcorn in at the multiplexes.

Recently, India has 442 million of smartphone users and with the broad expansion of internet and smartphones India has become the hotbed of digital streaming startups, where creative content creators are contributing for videos and audios and promoting them through their social media handles. Digital streaming applications are collaborating with many networks and broadcasting several network’s content in single platform, which can be accessed easily for bustling urban population.

India is a diverse country with 22 official languages and 720 dialects, after the wide reach of Hindi and English many startups digital streaming platforms have started creating contents in local and regional languages. Youtube is also promoting such freshly brewed contents. Bengali OTT platform and digital Streaming application Hoichoi is making and producing films in Bengali and has become very famous in just few days because of their creative contents. Hoichoi has become connecting link of Bangladesh and India as they started streaming, making and producing Bangladeshi web series and movies which getting popular among the vast audience. Amazon and Hotstar are investing for converting or dubbing media contents in different languages like Bengali, Kannada, Nepali, Tamil, Telegu, and Malayalam to hit local audience. Startups are getting promotion in between live streaming videos on Facebook or YouTube, Hotstar and like this, e-commerce startups are reaching to many people with their wide range of products and services from a single platform and gaining popularity.

Future of Digital streaming

OTT or Over-the-top platforms are mushrooming in Asia Pacific countries like India, China, South-Korea, Japan and at the same in the UK & US in gigantic scale. The OTT market size was valued at 121.61 billion in 2019 and is predicted to reach around $1,039.03 billion by 2027, growing at a 29.4 percent CAGR between 2020 and 2027. The United States is one of the largest OTT markets in the world with a CAGR of 11.22 percent in terms of revenue and approximately 2.25 percent in terms of subscribers. Startups targeting digital media platforms, short content making platforms & application, thus, video editing and producing houses are increasing to cater such huge profitable market. A startup in digital media streaming business can survive even without acquisition and can have that potential to grow at an exponential height within a year because internet has a strong effect on the whole world, all nooks and corners are connected to this.

Through internet, creative content can reach audience simultaneously at the remote areas and metro cities and towns. Earlier people hardly used to spend 0-2 hours over OTT platforms and videos but now they are spending 2-5 hours of their time and 2.5 – 4.5 dollars each month over such digital contents and increasing internet traffic of relative website and application. More than 76 percent of the population is the subscriber of any of the leading digital streaming platforms. This penetration of subscribers is expected to expand by 49.9 percent within 2026 with a sharp increase in the market volume of $427.80 billion.

Undoubtedly, there is a golden opportunity and deeply vast market for the startups targeting digital content creation and digital streaming platforms brewing creativity and quality contents and platforms.

Who knows!! Your company can be the next Netflix or Amazon Prime that will make world revolve around it.