While cord-cutting and never-cord trends are on the boom, streaming services are the primary alternatives for most of the users quitting on their conventional cable services. All the same, there are cable service providers like Spectrum and Xfinity particularly that have satisfied and loyal customers for decades in over 40 states of the US. The rage of streaming services is so intense in the market that top providers are also launching their streaming services, for example, Spectrum TV and Xfinity TV – while the rest of them are in the queue.
In this article, we are going to shed some light on four trends that are growing while the streaming war in the market is intensifying with time. So, before further ado, let’s get to points and check what business should be or we would like to assume, are already taking into consideration to alter the market trends in their favor.
1. Hybrid Models
Businesses need to be extremely vigilant to stay even with the rapidly changing customers’ needs. This can be a very challenging task as well. To be ahead in this race, cable operators need to work tirelessly to come up with innovative strategies. This has been made easier by the introduction of various flexible business models that have been surfacing in the market of the TV industry particularly. After a long period, we will get the opportunity to avail more AVOD (advertising-based video on demand) services under the SVOD (Subscription Video on Demand) processes and a huge demand for diverse business models will prevail.
2. Aggregators-the Fusion Of Different Available Options
In the current era, we have the availability of a vast number of devices that are capable of displaying videos and the bulk of services at one’s disposal. These are the benefits of living in a rapidly advancing rage. However, it is quite a perplexing job for some consumers to choose something to watch when too many options are available. It is strange, even with the increasing number of choices, not everybody is satisfied. Approximately 90% of the viewers’ concern is that to get to watch what they desire to watch, they will have to take up several subscriptions which will burn a hole in their pockets.
3. Connected Data (TV)
Nowadays, there are multiple TV services available to select from, thus, the operators will have to go an extra mile by enhancing their capability to provide an exceptional experience to their users through personalized offers. For this to happen, it is highly significant to collect and accurately use the huge amount of data as that will lead to better personalization of services. Creating customized provision of services, personalized content suggestions, along with the targeted advertising, is going to prove to be a leading source of assistance in making services exclusive, increasing subscribers, and attracting new customers. The advancements in data processing tools and the incorporation of data levels in TV experiences are supposed to take the plunge shortly.
Technologies, for instance, deep learning, suitable time experimenting, contemporary gadgets, IoT, and TV screens are all interlinked with the cloud, join hands to facilitate the new-generation TV services.
4. Live Streaming
Even though there is a general perception that streaming is not adequate to watch live sports broadcast, sports still drives the live streaming traffic the most. There is constant change in the viewers’ consumption patterns as they keep shifting towards superior and better services. In light of this, infrastructure developments and technological improvements have to be aligned to it as well. The coming year is going to provide various opportunities for media companies and the companies that are IP-based TV to stream live sports. Through this, they can put forward the confidence they have for the live internet; they visualize the 2020 Tokyo Olympics to be available in 4K.
As we discussed in the aforementioned article, businesses need to and some already are altering their methodology to beat and survive in the raging market. Streaming services are overshadowing the traditional cable TV industry because it incorporated the latest technology to facilitate their users. Again, bringing comfort and convenience with plentiful options at the disposal has always been a successful formula. Any business, particularly the one that wishes to survive in the visual industry should try this short-shot formula and it will surely work – if not a massive success – it sure is the key to survival.