According to analysis, mobile streaming has increased in the hands of companies such as Netflix, Hulu, Amazon, Peacock and Disney+
In recent years, streaming platforms have radically transformed the way people consume audiovisual content. This revolutionary change in entertainment has positively impacted not only consumers, but also the global market. which is indicated by the Mobile Market Analysis 2023, prepared by Rocket Lab.
According to the analysis, mobile streaming has increased in the hands of companies like Netflix, Hulu, Amazon, Peacock and Disney+, which are generating more and more exclusive content and attracting people to their platforms to watch exclusive films and series that cannot be found nowhere else.
This advancement offers more and more space for brands to promote themselves on new channels. On the other hand, the competition for people’s attention also continues to grow. In 2022, the global streaming market was worth US$7.2 billion, while by 2027 this number is expected to double. The increase shows the high growth potential of this market, says Guilherme Basani, general director of Rocket Lab in Brazil.
The United States tends to be a country that sets several consumer trends at a global level. The graph below shows the increase, in May 2022 in relation to the same month of the previous year, of OTT platforms, an acronym for Over The Top, which refers to content distribution platforms over the internet, in which the user watches on demand :
Regarding Brazil, revenue expectations in the OTT segment in 2023 are US$4.2 billion and revenue is expected to show an annual growth rate (CAGR 2023-2027) of 8.6%, leading to a forecasted market volume of US$5.84 billion in 2027. And the largest segment is OTT video advertising, with a market volume of US$2.42 billion in 2023. Globally, the streaming platform market could move US$ 14 billion by 2027.
During the research, we were able to notice that in one year, the percentage of Brazilians with smartphones subscribed to paid streaming platforms went from 64% to 69%, further reinforcing that this trend was driven by the Covid-19 pandemic, but it continues to grow gradually, says Basani.
Streaming platforms are changing the way we interact with entertainment. They offer convenience, diversity and personalization, allowing consumers to take control of their viewing and listening experience. This is a trend that has everything set to increase more and more. And as new technologies, such as virtual and augmented reality, integrate into the streaming landscape, the consumer experience will only improve, further consolidating this industry as an essential part of the way we consume entertainment today and in the future, concludes the executive .
