Penthera's guest blogger Shalabh Agarwal is the co-founder of Enveu, one of the fastest-growing app automation and OTT solutions providers. Shalabh oversees the global businesses for Enveu and has been working in the Technology and SaaS space for over 15 years.
According to a study by Grand View Research, the global video streaming market reached a value of US$ 50.11 billion in 2020. The same study reveals that it’s expected to grow at a CAGR of 21% from 2021 to 2028 to reach US$ 223.98 billion.
As the numbers above prove people want to watch more video content. Think of news – people prefer watching it than reading it. Think of entertainment – people prefer watching videos to reading. On social media too, a HubSpot study reveals that videos are 40 times more likely to be shared than text is. Cisco also projects that 82% of all consumer traffic on the internet will be for videos.
So, it’s no rocket science that for any publisher or content creator, video has to be an integral part of their mix. But, streaming still does come with its challenges. You might be producing great content but if the user blurry, buffering content while accessing it, their experience is sub-par and can cause attrition. With attention spans reducing - it’s important to hook and entice viewers right from the first frame.
The video streaming experience should be seamless. This can help increase viewership. The better the viewing experience, the more time the viewer is likely to spend on the platform. Think of Netflix – and your last binge-watching experience on it. You stuck to the show and the OTT platform, because of its clear and simple streaming and seamless transition between episodes.
So, it’s clear that the video experience is a game-changer. Once a video is created, and is ready to be served to the end-viewer, the experience is of utmost importance. Yes, we are at the cusp of 5G, but bandwidth remains an issue for most users around the world, especially in developing countries. And usually when a video doesn’t load, while it could be the service provider who should be getting the blame, it’s the content creator who suffers.
If your video takes too long to buffer, one in five mobile video plays are abandoned, according to a nScreenMedia report. So keeping that, in mind viewers should be allowed to control the video quality – sometimes slightly lowering the resolution can lead to faster load time and no major visible degradation of picture quality.
For non-live videos, last-mile issues have caused SVOD subscribers looking towards downloads as 4 in 5 UK and US users want the option to have the ability to download videos.
Whatever your OTT development needs happen to be, you can feel comfortable knowing that Enveu has the right kind of tools you’re looking for, no matter how complex your requirements are. Content creators can focus on creating content, while they rely on Envue (a Penthera partner) to handle the rest, without getting dinged up in the process. Enveu can help you deliver a crafted experience to your viewers and help you address the last mile delivery experiences. Visit www.enveu.com to learn more.
