OTT Market Expected To Reach $223 Billion By 2026 as Demand for Streaming Service Increases

OTT Market Expected To Reach $223 Billion By 2026 as Demand for Streaming Service Increases.

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PALM BEACH, Fla., March 21, 2022 – An over-the-top (OTT) application is an app or service that avails a product over the Internet and bypasses traditional distribution practices. Services that are available over the top are most typically related to media and communication and are generally, if not always, lower in cost than the traditional method of delivery. Over the top (OTT) is a film and television content platform provided via a high-speed internet connection instead of a cable or satellite provider-based platform. Currently, the OTT adoption aided the video, music, podcast, and audio streaming category significantly. Increasing adoption can be attributed to the narrow genre choices, packaging flexibility, wider device availability, internet penetration, and overall lower costs. Furthermore, the rising demand for customized content led to significant adoption rates of OTT devices.  A report from Mordor Intelligence projected that the Over the Top (OTT) Market is expected to reach USD 223.07 Billion by 2026, registering a CAGR of 13.87 through 2026. It said: “The onset of the COVID-19 pandemic positively impacted the OTT landscape, with audiences consuming more content at home via OTT devices. This is likely to accelerate the growth of this format. The OTT opportunity is further deep when looking at the region’s mobile-first economy, combined with the rising OTT subscription rate. An increasing number of consumers have a digital TV in their pocket, which presents an exciting opportunity for media buyers looking to take advantage of changing consumer trends.”  Active Mining Companies in the markets today include Helbiz Inc. (NASDAQ: HLBZ), Roku, Inc. (NASDAQ: ROKU), fuboTV Inc. (NYSE: FUBO), Netflix, Inc. (NASDAQ: NFLX), Curiosity (NASDAQ: CURI).

Mordor Intelligence added: “Further, players offering OTT platforms services are no longer interested in being viewed as platforms just for accessing movies and TV shows but are also investing in the production and licensing of their content. Such a scenario has resulted in direct competition with traditional TV and among the OTT industry. The competition is further heightened with the deployment of advanced technologies within the platforms.  The onset of the COVID-19 pandemic positively impacted the OTT landscape, with audiences consuming more content at home via OTT devices… While the growth was evident due to the lockdowns and consumers forced to stay at home, the data highlights huge gains from the OTT platforms… With a high adoption rate, users broadcast entertaining videos, sports, music, local or international news to a large group of other users. This wide range of applicabilities is accelerating its adopted growth.”

Helbiz Inc. (NASDAQ: HLBZ) BREAKING NEWS:  Helbiz Media Signs Agreement with MLB to Stream Next Three Seasons on Helbiz Live –  The upcoming MLB seasons will be available to broadcast on Helbiz Live throughout Italy – Helbiz Inc., a global leader in micro-mobility and the first in its industry to be publicly listed on the Nasdaq, today announced an agreement between Helbiz Media, the company’s media arm and streaming entertainment service, and Major League Baseball (MLB), the North American professional baseball league, to acquire the OTT rights to stream the next three MLB seasons on the Helbiz Live platform in Italy.

Through this agreement, Helbiz Live will have live streaming rights for up to four MLB games weekly, in addition to the All-Star, Field Of Dreams, Little League Classic and all playoff games. Helbiz Live subscribers will be able to access live games from the beginning of the season set for April 7, 2022. Highlights and replays of each streamed game will be available to stream on demand.

“We are thrilled to expand the sports content on Helbiz Live to include Major League Baseball games,” said Matteo Mammì, CEO of Helbiz Media. “As one of the most-watched sports in the United States with a passionate international fanbase, this allows us to expand the audience that will have access to additional premium content to watch on Helbiz Live. Our goal is to continue to grow Helbiz Live offerings to meet the wants and needs of our subscribers at an attainable price point.”

This agreement expands the global offerings of Helbiz Live. The service already features Italian Serie B soccer, NFL and NCAA games along with special events like DFB Pokal and Miss Italia.

Helbiz Live is available through a monthly subscription of $5.99, which offers $4 cashback to be used towards Helbiz micro-mobility rentals. It is also available through a yearly subscription of $49.99, which offers $30 cashback. Users can also subscribe to Helbiz Unlimited, a monthly subscription of $39.99 that includes Helbiz Live streaming and an unlimited number of micro-mobility rides per month, up to 30-minute per day. 

Other recent developments in the streaming industry include:

Roku, Inc. (NASDAQ: ROKU) recently announced Roku’s Advertising Watermark, free technology to help advertisers and publishers validate the authenticity of video ads originating on the Roku platform. As the industry’s first authentication solution built for TV streaming, Roku’s Advertising Watermark gives marketers the confidence that their advertising spend is reaching real Roku users.

Today, device spoofing occurs when scammers pretend that a desktop or mobile device is a TV streaming device. Roku’s Advertising Watermark integrates with the Roku operating system to automatically verify publisher ad requests and impressions so that advertisers know they are reaching genuine Roku users. While ad spoofing in TV streaming remains rare, this technology will help the industry deter bad actors and improve ad effectiveness.

fuboTV Inc. (NYSE: FUBO), the leading sports-first live TV streaming platform, recently announced its financial results for the fourth quarter and full year ended December 31, 2021. The company also announced 2022 guidance, expecting to drive over $1 billion in total revenue this year.

fuboTV delivered record annual revenue of $638 million total revenue in 2021, including $1 million impact of the December 2021 acquisition of Molotov. Excluding Molotov, fuboTV’s total annual revenue was $637 million, an increase of 144% over 2020.

The company closed 2021 with 1.13 million total paid subscribers, up 106% from the prior year. fuboTV added 185,000 net subscribers in the fourth quarter.

Netflix, Inc. (NASDAQ: NFLX) recently announced it will post its first quarter 2022 financial results and business outlook on its investor relations website at http://ir.netflix.net on Tuesday, April 19, 2022, at approximately 1:00 p.m. Pacific Time. At that time, the company will issue a brief advisory release via newswire containing a link to the first quarter 2022 financial results and letter to shareholders on its website.

A video interview with Netflix co-CEO Reed Hastings, co-CEO & Chief Content Officer Ted Sarandos, Chief Financial Officer Spence Neumann, COO & Chief Product Officer Greg Peters and VP, IR & Corporate Development Spencer Wang will be available at 3:00 p.m. Pacific Time. The discussion will be moderated by Doug Anmuth, JPMorgan, with questions submitted via email. Questions from investors should be submitted as well in advance as possible for inclusion to douglas.anmuth@jpmorgan.com.

The video interview can be accessed on the Netflix Investor Relations YouTube channel at youtube.com/netflixir.

Curiosity (NASDAQ: CURI), the leading global factual streaming service and media company recently announced a sneak peek into its 2022 slate of original series and feature-length documentary films, featuring more originals for Curiosity Stream and Curiosity Channel than any previous year. Several popular series are back for new seasons plus exciting new, brand-defining titles showcase compelling stories from biomimicry, asteroids, true crime, and exotic wildlife rescue to great escapes in history, accidental inventions, tycoons that shaped the world, and much more.

“Every year just gets better,” said Clint Stinchcomb, President and CEO of Curiosity. “We are delighted to take viewers to a new place every week with our phenomenal lineup of truly original and innovative factual storytelling, unlike anywhere else in streaming.”

SOURCE Financialnewsmedia.com