Digital Video and Music Markets Set for Explosive Growth, Driven by AI and Partnerships
2 Sources
2 Sources
[1]
Digital Video Content Market to grow by USD 691.3 billion (2024-2028), rising partnerships and acquisitions in VOD to drive revenue, with AI shaping market trends - Technavio
NEW YORK, Sept. 18, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- The global digital video content market size is estimated to grow by USD 691.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 18.08% during the forecast period. Growing number of partnerships and acquisitions in vod market is driving market growth, with a trend towards growing number of cross-platform partnerships. However, availability of pirated video content on online platforms poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T, Chicken Soup for the Soul LLC, Comcast Corp., Lions Gate Entertainment Corp., Meta Platforms Inc., Netflix Inc., One Day Video Ltd., Roku Inc., Snap Inc., Sony Group Corp., Stir Fry Content Kitchen, The Walt Disney Co., Twitter Inc., Verizon, Viacom18 Media Pvt. Ltd., Walmart Inc., and Youku Tudou Inc.. AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now Forecast period 2024-2028 Base Year 2023 Historic Data 2018 - 2022 Segment Covered Deployment (Pay TV and OTT), Application (Smart phones, Desktop and laptop, Smart TV, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) Region Covered North America, Europe, APAC, South America, and Middle East and Africa Key companies profiled Alphabet Inc., Amazon.com Inc., Apple Inc., AT and T, Chicken Soup for the Soul LLC, Comcast Corp., Lions Gate Entertainment Corp., Meta Platforms Inc., Netflix Inc., One Day Video Ltd., Roku Inc., Snap Inc., Sony Group Corp., Stir Fry Content Kitchen, The Walt Disney Co., Twitter Inc., Verizon, Viacom18 Media Pvt. Ltd., Walmart Inc., and Youku Tudou Inc. Key Market Trends Fueling Growth The digital video content market is experiencing notable expansion, primarily fueled by Over-The-Top (OTT) service providers. To stay competitive, Pay-TV services are forming collaborations, providing Subscription Video on Demand (SVOD) and Ad-Supported Video on Demand (AVOD) services like Netflix and Amazon Prime Video. These alliances benefit both parties, enabling Pay-TV providers to expand their offerings and retain customers. An example of such a partnership was announced by Verizon in April 2019, allowing their Fios TV clients to subscribe to YouTube TV as part of their IPTV service. In today's digital world, the consumption of video content is on the rise. TV shows, movies, music videos, advertisements, and more are increasingly being accessed on digital platforms through tablets, laptops, and smart TVs. The younger population prefers digital media for entertainment purposes, with the expansion of 4G making live streaming videos a reality. Digital video services like Netflix, Amazon Prime, and Hulu are leading the charge, offering personalized content based on user preferences. Social media platforms are also jumping on the bandwagon, with live streaming and promotional videos becoming popular. Businesses use digital video content for B2B communication, e-newsletters, blog posts, and advertising. AI, IT, and cloud computing are essential tools for creating, storing, and distributing text, audio, video, graphics, and photographs. The hotel industry, healthcare and pharmaceutical, media and entertainment, pay TV, and OTT are some industries leveraging digital video content for various purposes. Online traffic is driving the growth of digital video content, with educational content, music, and internet proliferation fueling the demand. Mobile devices and personal computers are the primary devices for accessing digital video content. Voice search is the new trend, making content more accessible than ever before. On-premise and cloud-based solutions cater to different business needs. Insights on how AI is driving innovation, efficiency, and market growth- Request Sample! Market Challenges The digital video content market faces a significant challenge due to the increasing prevalence of video piracy, particularly through torrenting. Torrents, which are digital files containing metadata, enable users to download unauthorized copyrighted content using software like BitTorrent. This practice is illegal, and the availability of free TV shows, movies, documentaries, and videos through torrents eliminates the need for subscriptions to streaming services. Moreover, the content shared via torrents is typically ad-free, providing an advantage over ad-supported video on demand (AVOD) services. The affordability and convenience of torrenting hinder the growth of the global digital video content market.In today's digital world, creating engaging content is essential for businesses looking to connect with their audience. One popular format is digital video content, which includes live streaming videos for promotional purposes. However, creating high-quality video content involves various challenges. IT infrastructure like AI, cloud computing, and graphics are required for production. Text, audio, photographs, and graphics must be integrated to create an engaging video. For B2B communication, personalization marketing, and industries like hotel, healthcare, and media, video content is crucial. Platforms like Pay TV, OTT, and Advertising offer subscription-based services for businesses. Personal computers and mobiles are the primary devices for accessing this content. However, challenges persist, including internet proliferation, piracy of content, and the need for e-newsletters, blog posts, and voice search optimization. On-premise and cloud solutions are available to address these challenges, making digital video content a vital tool for businesses in various sectors. Insights into how AI is reshaping industries and driving growth- Download a Sample Report Segment Overview This digital video content market report extensively covers market segmentation by Deployment 1.1 Pay TV1.2 OTTApplication 2.1 Smart phones2.2 Desktop and laptop2.3 Smart TV2.4 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 Pay TV- The Pay-TV market encompasses digital video content delivery methods, primarily divided into subscription-based and on-demand models. The market's expansion is fueled by the rising popularity of IPTV, an Internet Protocol (IP)-based content delivery system. IPTV offers several advantages, such as easy integration with IP-based services, compatibility with various display devices, and interactive features like electronic program guides (EPGs) and personal video recorders (PVRs). These advantages have led to its increasing adoption, particularly in emerging markets where satellite TV is replacing traditional cable connections. The shift is due to reduced network infrastructure costs and government regulations promoting satellite TV. IPTV's growth is also driven by the expanding Internet penetration and digital literacy, making it an attractive alternative to cable TV. Overall, these factors contribute to the significant growth of the Pay-TV market, with IPTV subscriptions on the rise. Download complimentary Sample Report to gain insights into AI's impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 - 2022) Research Analysis The Digital Video Content Market is a dynamic and ever-evolving industry that encompasses various forms of multimedia content, including TV shows, movies, music videos, advertisements, and more. This market thrives on digital platforms, making it accessible to consumers on tablets, laptops, smart TVs, and personal computers. The younger population is a significant demographic, with a strong preference for on-demand and personalized content. Content creation involves the use of Text, Audio, Video, Graphics, Photographs, and even AI, IT, and Cloud computing. Digital content includes TV shows and movies available on Pay TV and Over-The-Top (OTT) platforms, educational content, music, and various forms of advertising. The market is vast and diverse, catering to various industries and niches, from entertainment to education and business. The Digital Video Content Market is a growing industry, with new technologies and trends emerging regularly. Subscription-based models, mobile devices, and the integration of AI and machine learning algorithms are some of the latest developments shaping the market. The future of digital video content is exciting, with endless possibilities for creativity, innovation, and engagement. Market Research Overview Digital video content market is experiencing exponential growth, fueled by the increasing popularity of TV shows, movies, music videos, advertisements, and digital platforms. Younger populations are leading the charge, consuming content on tablets, laptops, and smart TVs. The expansion of 4G and the rise of cable TV alternatives like digital video services have disrupted traditional entertainment industries. Social media platforms and live streaming videos have become essential tools for promotional purposes. Text, audio, video, graphics, photographs, AI, IT, and cloud computing are key components of digital video content creation. The healthcare and pharmaceutical, media and entertainment, pay TV, Over-The-Top (OTT), advertising, subscription, and educational content industries are major consumers. Personalization marketing, voice search, and B2B communication are emerging trends. Online traffic from personal computers and mobiles is driving demand for high-quality content. However, the challenge of internet proliferation and piracy of content remains a significant concern. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation DeploymentPay TVOTTApplicationSmart PhonesDesktop And LaptopSmart TVOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/digital-video-content-market-to-grow-by-usd-691-3-billion-2024-2028-rising-partnerships-and-acquisitions-in-vod-to-drive-revenue-with-ai-shaping-market-trends---technavio-302252098.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs
[2]
AI-Driven Market Transformation: Music & Video Market to Grow by USD 875 Billion (2024-2028) with Rising Internet and Smartphone Penetration - Technavio Report
NEW YORK, Sept. 19, 2024 /PRNewswire/ -- Report with the AI impact on market trends- The global music and video market size is estimated to grow by USD 875 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 29.09% during the forecast period. Rising internet and smartphone penetrations is driving market growth, with a trend towards integration of advanced technologies with online streaming services. However, video piracy issues and illegal downloading of music tracks poses a challenge. Key market players include Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Block Inc., ByteDance Ltd., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., Sony Group Corp., SoundCloud Global Ltd. And Co. KG, Spotify Technology SA, Tencent Music Entertainment Group, The Walt Disney Co., Viacom18 Media Pvt. Ltd., and Vimeo.com Inc.. Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report Music And Video Market Scope Report Coverage Details Base year 2023 Historic period 2018 - 2022 Forecast period 2024-2028 Growth momentum & CAGR Accelerate at a CAGR of 29.09% Market growth 2024-2028 USD 875 billion Market structure Fragmented YoY growth 2022-2023 (%) 21.65 Regional analysis North America, Europe, APAC, South America, and Middle East and Africa Performing market contribution APAC at 32% Key countries US, China, UK, Japan, and Germany Key companies profiled Alphabet Inc., Amazon.com Inc., Apple Inc., Bharti Airtel Ltd., Block Inc., ByteDance Ltd., Deezer SA, Gamma Gaana Ltd., iHeartMedia Inc., Microsoft Corp., Netflix Inc., Reliance Industries Ltd., Sirius XM Holdings Inc., Sony Group Corp., SoundCloud Global Ltd. And Co. KG, Spotify Technology SA, Tencent Music Entertainment Group, The Walt Disney Co., Viacom18 Media Pvt. Ltd., and Vimeo.com Inc. Market Driver Advanced technologies, including artificial intelligence (AI), deep learning, natural language processing, and blockchain, are revolutionizing the online music and video market. AI enhances video production by supporting cinematography, editing, voice-overs, scriptwriting, and content improvement. Popular streaming platforms like Hulu and YouTube are driving AI adoption. Amazon Personalize, an AI-powered recommendation engine, offers demographic information to developers. Blockchain technology decentralizes communication in the industry, enabling artists to bypass traditional distribution channels and enforce license terms directly with consumers. While in its early stages, blockchain's implementation is expected to positively impact the market's growth. In today's digital world, the Music and Video market is thriving with trends like song recommendations, blockchain technology, and artificial intelligence. Online platforms dominate the scene, with IT giants investing heavily in the subscription segment and livestreaming app segment. The podcast industry is booming, especially during work schedules and home working. Fitness enthusiasts can access workouts on demand. Blockchain technology and artificial intelligence are revolutionizing the industry, offering secure transactions and personalized recommendations. The app segment caters to the individual segment, with smart speakers and high definition audio becoming popular. Faster internet and remote access enable live video streaming, advertising, and rental. However, piracy issues remain a challenge, with illegal downloads and movie torrents threatening the industry. OTT platforms, IPTV services, and pirate subscription services offer alternatives to traditional audio and video media. Augmented Reality, Hologram concerts, and Virtual Reality are the future of entertainment, while multitasking and public spaces like gyms, cafes, restaurants, and pubs offer new opportunities. The subscription model continues to dominate, with on-demand segment leading the way. Digital media devices and 5G connection ensure lossless music streaming, making the future of the Music and Video market exciting and innovative. Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution! Market Challenges The global music and video market faces a significant challenge from video piracy, primarily through the use of torrents. Torrents are digital files containing metadata that enable users to download audio and video content via software like BitTorrent and uTorrent. While the use of these services is not illegal, the shared content is often copyrighted, making it a violation of intellectual property rights. Torrents offer convenience for users, allowing them to download various TV shows, movies, documentaries, and videos in one place, free of cost. The absence of ads in pirated content also makes it more appealing than ad-based video-on-demand (AVOD) streaming services. However, the expansion of the piracy market poses a threat to the growth of the global music and video industry. Strict regulations and laws have been implemented to curb illegal downloading, but the lack of accountability and the financial gains for unauthorized content distributors continue to fuel its adoption. The increasing penetration of digital music and the availability of exclusive content on online streaming platforms further complicate the issue. Despite these challenges, the market continues to grow, driven by the increasing demand for on-demand entertainment and the proliferation of digital platforms.In the Music and Video Market, production and post-production pose significant challenges due to the need for high-quality video and audio. Tie-in marketing campaigns with toys, food, and other products require coordination and planning. Contemporary video-making techniques, including animation and live action, documentaries, and non-narrative approaches like abstract film, demand diverse skills and resources. Thematic approaches, filmed versions of songs' lyrics, and live concert performances require different strategies. Video content in electronic media, such as SD cards, solid state storage, and flash storage, must support common formats like Audio Video Interleave (AVI) and Windows Media Video (WMV). Video streaming on music video stations, online video platforms, and social media require a tech-savvy approach. Video advertising strategies on social media platforms involve visual graphics and performance videos, narrative videos, and concept videos. Music albums, commercial advertisements, and residential or commercial content creation involve various equipment like microphones, megaphones, and digital platforms. Smart devices and podcasts also offer opportunities for customized playlists and innovative audio experiences. Overall, the Music and Video Market requires a technologically advanced system to meet the diverse needs of consumers and businesses. Discover how AI is revolutionizing market trends- Get your access now! Segment Overview This music and video market report extensively covers market segmentation by Platform1.1 Digital1.2 PhysicalType2.1 Video2.2 MusicGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa 1.1 Digital- The Music and Video Market is a significant business sector, encompassing the creation, production, distribution, and sale of various music and video content. This industry caters to diverse audiences, providing entertainment, education, and inspiration through various mediums. Music and videos are consumed via streaming platforms, digital downloads, and physical media. Companies in this market include record labels, music, streaming services, and equipment manufacturers. Collaborations between these entities drive innovation and growth. Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics Research Analysis The Music and Video Market encompasses various sectors, including live events, music videos, and the music industry. This market is a dynamic fusion of art and technology, where songs and visual images come together to create experiences. Music videos, short films, and promotional content are essential tools for artists to showcase their talent and connect with audiences. Digital platforms and smart devices have revolutionized music consumption, enabling playlist customization, song recommendations, and access to vast libraries of music recordings. The advertising industry also plays a significant role, utilizing audio and visual content to promote products and services. Emerging technologies like blockchain and artificial intelligence are transforming the way content is created, distributed, and monetized. The podcast industry is another growing segment, offering unique storytelling opportunities and catering to diverse audiences. Fitness and work schedules often incorporate music and videos, while IT giants continue to innovate and shape the future of modern music videos and filmmaking. Market Research Overview The Music and Video Market encompasses various forms of audiovisual content, including live events, music videos, and filmmaking. Modern music videos combine visual images and music recordings using contemporary video-making techniques, such as animation, live action, and non-narrative approaches. Filmmaking involves pre-production, production, and post-production stages, utilizing film stock, video production equipment, and technologically advanced systems. Music videos and promotional videos are essential in the advertising industry, while short films and documentaries offer unique storytelling opportunities. Tie-in marketing campaigns use music and video content to promote products and services, ranging from toys and food to IT giants and home working. Electronic media, SD cards, and solid-state storage facilitate the creation and distribution of video content. Common formats include Audio Video Interleave (AVI) and Windows Media Video, while video streaming platforms and music video stations offer online access to a vast array of content. Music videos and live concert performances can be monetized through video advertising, social media platforms, and subscription services. Emerging technologies like blockchain, artificial intelligence, and virtual reality are transforming the music and video market, offering new possibilities for music album releases, commercial advertisements, and innovative content experiences. Table of Contents: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation PlatformDigitalPhysicalTypeVideoMusicGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Company Landscape 11 Company Analysis 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/ai-driven-market-transformation-music--video-market-to-grow-by-usd-875-billion-2024-2028-with-rising-internet-and-smartphone-penetration---technavio-report-302252289.html SOURCE Technavio Market News and Data brought to you by Benzinga APIs
Share
Share
Copy Link
The digital video content market is projected to grow by $691.3 billion, while the music video market is expected to expand by $875 billion between 2024-2028. AI integration and strategic partnerships are key drivers of this growth.
Digital Video Content Market Poised for Substantial Growth
The digital video content market is on track for significant expansion, with projections indicating a growth of USD 691.3 billion from 2024 to 2028. This surge represents a compound annual growth rate (CAGR) of 13.08% over the forecast period. The market's robust growth is attributed to several key factors, including the rising number of partnerships and acquisitions in the industry
1
.Strategic Partnerships Fueling Market Dynamics
One of the primary drivers of this growth is the increasing trend of partnerships and acquisitions among industry players. These strategic moves are enabling companies to enhance their market presence, expand their content libraries, and improve their technological capabilities. Such collaborations are crucial in meeting the evolving demands of consumers and staying competitive in the rapidly changing digital landscape.
Music Video Market: A Parallel Success Story
In a related development, the music video market is also experiencing remarkable growth prospects. Forecasts suggest an even more impressive expansion, with the market expected to grow by USD 875 billion between 2024 and 2028
2
. This growth trajectory underscores the increasing importance of visual content in the music industry.AI: A Game-Changer in Content Creation
A significant factor driving the growth in both markets is the integration of artificial intelligence (AI) technologies. AI is revolutionizing content creation, distribution, and personalization processes. In the music video sector, AI-driven tools are enhancing video production, enabling more efficient editing, and facilitating the creation of innovative visual effects. This technological advancement is not only improving the quality of content but also reducing production costs and time-to-market.
Consumer Behavior and Market Trends
The substantial growth in both markets reflects changing consumer preferences and viewing habits. With the proliferation of streaming platforms and mobile devices, audiences are increasingly turning to digital platforms for their entertainment needs. This shift is creating new opportunities for content creators and distributors to reach global audiences and monetize their content effectively.
Related Stories
Challenges and Opportunities
While the growth prospects are promising, both markets face challenges such as content piracy, regulatory hurdles, and intense competition. However, these challenges also present opportunities for innovation in content protection technologies, compliance strategies, and unique content offerings that can differentiate players in the market.
Global Impact and Regional Variations
The growth in digital video and music video markets is a global phenomenon, but regional variations in consumption patterns, regulatory environments, and technological adoption rates are likely to influence market dynamics across different geographical areas. Companies operating in these spaces will need to tailor their strategies to address local preferences and overcome region-specific challenges.
References
Summarized by
Navi
Related Stories
AI Drives Growth Across InsurTech, NFT, Digital Content and Auto Parts Markets
06 Dec 2024•Business and Economy
AI Drives Growth and Innovation Across Visual Effects, NFT, AR/VR, Gaming and Television Markets
25 Jan 2025•Business and Economy
Music Industry Growth: Guitar and Background Music Markets Set to Expand Significantly
10 Sept 2024
Weekly Highlights
Weekly Highlights
Explore today's top stories
Your Daily Dose of Curated AI News
Don’t drown in AI news. We cut through the noise - filtering, ranking and summarizing the most important AI news, breakthroughs and research daily. Spend less time searching for the latest in AI and get straight to action.
