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?

Why Aren’t Putting Out Content?

SOCIAL MEDIA HAS GIVEN EVERYONE A VOICE AND A PLATFORM TO SHOWCASE CREATIVITY WITH THE MOST AFFORDABLE BUDGET. WHAT DOES THIS MEAN FOR YOU AND AD AGENCIES TODAY?

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Ever heard the line “the world is a global village?” yes I am sure you have, although I don’t think that fully catches the extent of interconnection the digital age has ushered into today’s ecosystem. So if you ask me, I would say the world is a huge living room. Everyone is just there going about their daily lives but also having the ability to reach anyone and everyone in the world at one spot. So this is me seizing the platform to say hello to you over in Mauritius.

So why aren’t you putting out content?

According to Domo’s Data Never Sleeps 5.0 report, the amount of data we produce daily is truly mind-boggling as it amounts to over 2.5 quintillion bytes.

• More than 3.7 billion humans use the internet globally (that’s a growth rate of 7.5 percent over 2016).

• On average, Google now processes more than 40,000 searches EVERY second (3.5 billion searches per day)!

• Worldwide there are 5 billion searches a day across search engines, whilst 77% are done using Google.

On social media, the stats also can be overwhelming but every minute:

• Snapchat users share 527,760 photos

• More than 120 professionals join LinkedIn

• Users watch 4,146,600 YouTube videos

• 456,000 tweets are sent on Twitter

• Instagram users post 46,740 photos

Of all of these amazing stats generated by digital platforms today, how much of it is generated by you? Why aren’t you putting out content, scratch that, why aren’t you putting out GREAT CONTENT?

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In today’s world, if you aren’t putting out content you aren’t living in this living room unless you aren’t interested in eating pie at the table.

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What does this mean for agencies?

As individuals continually harness the power of digital media and other disruptive technology they’ll gather attention and eventually transform into a one man ad agency. This we have already begun to see with the rise in influencer marketing as they have carved a niche for themselves and connect with the desired audience in real time.

In other words, these individuals will take agency clients.

Ad agencies who preceded the digital era have the responsibility to learn the newer and more disrupting tools that agencies who were born into the digital era are using to win clients.

In this living room, your ability to attract people to you would earn you the biggest slice of pie at the dinner table.