The TV and video industry must digitise to navigate the changing landscape

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 08, 2021, 7:27 AM UTC

The size of the global video streaming market could reach $223.98 billion by 2028, as per Grand View Research, Inc.’s, report.

The TV and video market is dynamic and is defined by variables such as digitisation, new market offers, disruption by digital competitors, as well as consumer expectations and usage habits. As brands try to leverage advanced tech like blockchain in video streaming, and AI, the demand for video streaming platforms is projected to increase, as per Deloitte Germany’s report.

Companies must factor in possible alternative scenarios for TV and video into their strategic planning to accommodate the developments in the industry. For example, on-demand and online video have surged, and platforms like Hulu and Disney+ are offering access to shows on major networks and cable TV.

Broadcasters and content creators cannot depend on their current market position to sustain their business and revenue and must be willing to collaborate. Joint production, distribution, and platforms, as well as digital investments, can help TV and video companies neutralise the threat posed by rapidly growing digital platforms such as Netflix, Amazon, and Google.

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