In the past decade, the amount of time people spend online has trebled with 100 million users watching online video on a daily basis. In 2016, the global VOD market which accounts for 16% of Digital Media Market stood at 16.3 billion dollars. The primary motivator for anyone to watch live online viewing is compelling content.
It is estimated that by 2019, online video will be responsible for bringing four-fifths of the global internet traffic. We see that it has become more of a phenomenon in the current world and people have some distinct habits as they stream videos online. We have discussed some of them below:
6 in 10 adults use online streaming to watch TV.
The popularity of online streaming services such as HBO and Netflix has definitely altered the media habits of the masses. More than half of the population prefers to watch television shows on the internet. According to the Pew Research Center, only 31% of the population now resorts to cable or satellite subscription and a mere 5% use the digital antenna to watch TV.
Millennials consume 56% of the content through smartphones and 44% through tablets.
Even the laptops and computers have lost their charm because of the ease provided by the handheld devices. People prefer their tablets or smartphones to watch some of their favorite shows or videos on the web. 81% of the total mobile traffic will be through the smartphones by 2020.
Average time spent for video on mobile is 2.8 minutes and for livestreams is 3.5 minutes.
Wait until 2020 because by then, 75% of the mobile traffic will be solely video. By that time, the number of connected devices will also be increased and there will be more users in the market as well. The consumption of video through mobile has increased dramatically because of the quality 4G/5G services provided by cellular networks.
70% of Netflix users binge-watch shows a 35% do so on a weekly basis.
Streaming Netflix means no longer waiting for another episode to air on the television. Viewers now choose to watch as many episodes as possible in a single sitting and the act of doing so is referred to as “binge-watching”. As of 2017, the most popular day for binge-watching was January 1 and in the United States, it was January 2.
An average person only takes 5 days to complete the first season of a series.
While an average person takes 5 days to complete a season, a zealous person can watch the entire series within a week. Netflix streaming service boasts such a large library of original content that other companies need to spend billions of dollars over a span of many years before they can actually reach this point.
The foremost preference of people when it comes to watching videos is high-quality. They may shift the medium or the platform for watching the video if they are not provided with such video-quality which appeals to their tastes.