You know what this Lockdown situation – in aid of protecting human lives from the Coronavirus Threat – has been doing to us. Almost every industry, and every company, is temporarily unavailable at office. People are working from home. Learners are learning online. Commerce is getting carried out via the Internet. And many others are simply trying to while away their Social Distancing days and weeks by watching TV – or streaming video.
This sudden development, if it can be called one, is witnessing a more-than-ever demand for video streaming. Video streaming platforms such as Amazon Prime, Netflix, Hotstar, and others are witnessing an increase in traffic that some are even terming unprecedented. After all, what can millions of people confined indoors do, other than turn to these sources of entertainment, and distraction?
There, however, is a catch to this situation. Even though people are relying on video streaming services to keep them busy, the video that is streaming can soon (if not already!) be lacking fresh content – in terms of new series titles, or movies -- as shooting, at most places, has been stalled because of the Lockdown.
The question is, how long can video streaming continue, and continue to see the surge it is witnessing, if the content it is presenting cannot retain any freshness?
Experts opine that what has been traditionally driving the growth of such video streaming platforms is fresh content. It is the premium, original content, that has been one of the most crucial drivers, and differentiators, in the sphere of the OTT (Over The Top). A number of OTT platforms have been vying for viewer attention on the strength of the content offered by them. No wonder the OTT players have been investing lavishly on the development, or acquisition of fresh content, as also new services, to lead to better User Experience.
Reports tell us that
A research note of the Bank of America Securities has revealed that app downloads of Netflix, Amazon Prime, and Zee5 increased notably in March 2020, as consumers decided to turn to video streaming to keep themselves occupied as they had to remain indoors to escape the dreaded Coronavirus.
However, Hotstar could not see a similar traction; Hotstar being a mainstay for the viewing of sports events, online, and most of such events getting suspended because of the outbreak of the COVID-19. It is believed that a potential cancellation of the IPL can result in a great loss of opportunity for Hotstar. Only last year, Hotstar had witnessed more than 20 million viewers on its platform on the day of the IPL final, and 300 million viewers while the season was on.
History has it that in January 2016, when New York received more than two feet of snow from a blizzard, video streaming through the television went up by more than 60%. Similarly, post the Hurricane Harvey that had wreaked havoc on the Houston area in the August of 2017, the total usage of TV had gone up by more than 55% in that market.
However, a surge in demand demands a surge in supply, to complement and complete it. Video streaming, therefore, would require fresh content, sooner, or later. More sooner than later, preferably.
A lot of ideas are coming up, while looking at the present situation of fresh content being in great demand.
This fresh content could be associated with Entertainment, but of course.
This fresh content could also be associated with Education. There are many students who are taking the help of online classes and video streaming to continue learning and revising during the Coronavirus crisis that is not allowing them to reach their educational institutions. Teachers, or learners can always create and stream videos that can aid the current situation by helping people to learn more, or better.
The content could also be related to managing offices or employees with the help of technology. Such content could be highly appreciated as more and more people are working from home now, and employers are having to face this situation that might seem quite new, and unexpected, to many of them.
Content related to Ecommerce could also be welcomed by many. Many consumers are already using digital means for taking care of their day to day requirements; more can learn, and get used to it, with time, and situations that urge them to try technology out.
Any content -- entertaining, educational, or enlightening -- can be most appreciated, now, and can draw a great number of viewers.
Professional content creators, or even people who believe they have something worthwhile to convey via video, can certainly contribute to making life easier and better, especially at a time like this.
Do feel free to get in touch with us at Ascentspark Software, if you think you have a unique idea related to video streaming that we could, perhaps, turn into a reality; or even if you have any doubts related to this subject that you would like us to clear. We offer you a consultation – free of charge, of course.
We are also there for you, in case you want customized solutions related to video streaming, delivery, distribution, and monetization matters.
Let us, together, do our best to better the current times.
