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