Is It Me, Or Are Companies Battling Over Online Video Streaming?

SOON PEOPLE MAY NO LONGER WATCH CABLE TV AS ATTENTION IS SHIFTING TO ONLINE VIDEO STREAMING CHANNELS

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It’s a no brainer that video content amasses the most amount of engagement and interactions (consumption) via online media. According to Cisco, 80% of all internet traffic are generated from video content. Little wonder why a number of companies have begun to battle for mindshare both in Africa and globally in the online video streaming market.

Since this market is still a blue ocean, it means it is not as saturated as it is prospected to be, until then newer players especially big players are expected to keep flooding the market with big bucks to spare.

Talking about new entrants, some big boys have chosen to give Netflix a run for the money. Netflix did a fine job in creating this market and now has over 118 million subscribers worldwide. Before they launched, there were a number of online video streaming platforms but of all of them, Youtube cracked the customer analytics bit of their strategy and brought online video streaming closer to us, especially in Africa. Youtube which according to Oberlo has over 1.9 billion active users monthly, also a total of 1 billion hours of video content is consumed on Youtube daily, while 72 hours worth of video content is uploaded on Youtube daily. This is definitely a trillion-naira market.

Source: Pulse

Source: Pulse

So here is the reason for this article; if you aren’t creating video content, your content marketing strategy is off. Here is why, businesses like Apple, DC, and Roktv understand the necessity of putting out great content – video content – and have entered the market to compete for users with Netflix.

Apple is said to be spending a couple billion dollars over 2018 and 2019 on the development of exclusive original programming. That’s a lot of TV! It’s nothing compared to the $12 billion Netflix spent on content in 2018, but it’s still a very big investment, Macworld. DC universe have been in the business of producing top notch tv series and they aren’t new to the online video streaming business. ROKtv, Startimes and others in Nigeria are currently leading the indigenous African online video streaming market and they are not showing any signs of slowing down.

My friends and family these days no longer remember to watch cable television, they believe that online video streaming channels make the best video contents. Well that’s their thought, what is yours?

Female President –You Can’t Stop Her

THE FEMALES ARE NOT HOLDING BACK AS THEY ARE REACHING THE APEX OF GOVERNANCE IN AFRICA.

Source: Timeslive

Source: Timeslive

This most certainly has something to do with the gender equality movement around the world. Nations everywhere have begun to consciously ensure the inclusion of women in every facet of the economy and this is being experienced in politics. Countries globally, have experienced a massive shift as women have begun to reach the apex in society, for example we saw the Croatian president Kolinda Grabar-Kitarović grace the world cup 2018 finals.

And now Africa has swallowed her pride as Ethiopia joins Mauritus and Liberia in appointing a female president. Interesting how we refer to Africa as a female yet many parts of the continent wouldn’t even dare to see a woman lead let alone become president. The current Ethiopian president, who is also Ethiopia’s first female president Sahle-Work Zewde, has broken those walls and taken center stage of governance.

This trend is gradually sweeping through Africa and soon women will no longer be excluded from being whatever they choose to be.

Throw Your TV Away

TV ON DEMAND IS LIKELY TO KNOCK TRADITIONAL TELEVISION OUT OF THE MARKET. WHAT DO YOU TINK?

Source: Pexels

Source: Pexels

Throwing the television away is going to be extremely difficult for many people but for others, not so much as they have over time been practicing how not to watch television for a number of reasons. Some say that they are no fresh, unique and exciting contents on television, some say they don’t have control over it and as such they don’t like to be part of things that aren’t subject to them –strange right? While some others say it’s not mobile so they do not entirely need it, as they are always on the move –I’m sure that some scientists somewhere are already researching on mobile buildings because of this emerging market.

Due to all of these reasons plus more, we have seen an unprecedented rise in TV on Demand –online video streaming applications or websites that function using subscription e.g Netflix, Youtube, Iflix, Iroko Tv, EbonyLive Tv and so much more. Buoyed by the increased number of mobile devices in Africa and the affordable rates of internet subscription, this innovation has experienced great levels of success.

Source: Pexels

Source: Pexels

TV on Demand is currently giving traditional television a run for the money but we wonder, can it actually cause customers to kick out their televisions. Subscription rates for Tv on Demand is way cheaper than the subscription for digital television (DSTV, GoTV, Kwese TV, Startimes etc.). TV on demand is mobile and easily fits into the schedule of those who are always mobile, you can control what you watch by choosing where, when, how, and what to watch. Amazing right? TV on Demand have also gone ahead to acquire those programming which would normally keep you glued to your television such as soaps, movies, and more. However, this innovation drastically increases the cost of data usage as you would need more data than normal due to video streaming –which means more money spent. TV on Demand have yet to acquire rights to stream live soccer games, this means, you may not be able to watch the normal weekend soccer games unless you use other free viewing sports sites.

Source: Pexels

Source: Pexels

Brands and advertisers may argue that television delivers nearly 100% returns on investments; I do not dispute that, but just today CNN announced that Netflix now has over 137 million subscribers. Doesn’t that tip the scale just a little bit? Soon brands and advertisers will begin to fall over themselves to advertise on these online television platforms.

Erm… Just before you go and throw your television away, you may want to sit with me and watch this trend for a little longer or perhaps you could sell it so you could get some part of your money back.