Industry trends

10 Important Trends Shaping On-Demand Digital Entertainment.

May 17, 2021 | By InPlayer

On-demand digital entertainment may be well-established in the UK, US, and other Western European countries, but further afield in major economies like India, Brazil, and South Africa, online video on-demand services are only just beginning to take root. 

The team here at InPlayer have taken inspiration from Discover Digital’s Executive Head of Operations Taryn Uhlmann’s on the key trends shaping the industry, gathered his valuable insights (which you can read in full here), and had a think ourselves where video on-demand apps and platforms are headed next.

So, what are the key trends that will affect how emerging video technology and on-demand streaming media is adopted? Continue reading to find out.

1. On-Demand Streaming Media Hits the Small Screen

The big screen needs to watch out! In their droves, millennials are increasingly opting to view their movies and TV shows from the small screen. Whether the choice is mobile, tablet, or laptop, on the current trajectory it’s clear those devices will become the real entertainment centre in the near future.

2. New Payment Methods for Online Video On-Demand Services

Traditional billing methods will gradually disappear as new, innovative billing models and payment options emerge. On-demand access for audiences who don’t have credit cards or don’t want to commit to a subscription is already growing in popularity among viewers. As well as that, pre-paid, short-duration models including vouchers and loyalty points are proving to be an effective way to encourage people to sign-up for new platforms.

3. Personalized and Individualized Online Video On-Demand Services

Online video on-demand services are already using intuitive algorithms and artificial intelligence capabilities to tailor digital entertainment to individual customers. The modern consumer wants and expects to have their specific needs catered for, meaning on-demand streaming media services need to focus on the niche rather than generic content to stay competitive in the market.

4. The Quality of On-Demand Streaming Media is on the Rise

With so much content to choose from, viewers demand quality. Investment in original content is already increasing because high-quality, exclusive content is both a huge draw for consumers, a massive competitive advantage, and a key differentiator for video on-demand apps, platforms, and streaming sites looking to make their mark.

5. Video On-Demand Apps and Platforms are More Intuitive & User-Friendly Than Ever

User experience (UX) is hugely important not only for customers using the platform but also how they perceive the brand. Content providers must improve UX using enhanced web design and intuitive user interfaces – including emotional design, omnichannel functionality, and lower latency.

6. Big Data & Analytics Offer On-Demand Streaming Media Providers New Customer Insights

Across all industries, big data will play an increasingly important role as companies of all shapes and sizes begin to use instant messaging, social media analytics, and web data to help them better understand their audiences and deliver a video on-demand service that consumers simply can’t refuse. 

Understanding the audience’s preferences and streaming behaviour is central to build a profitable subscription or pay-per-view business – it allows to grow and retain audiences, increase conversions on a website, improve the customer experience, measure the impact of new initiatives and open up new sources of revenue. 

As the industry-leading provider of monetization (PPV and Subscription) and subscriber management solutions, InPlayer is leveraging algorithm-powered data to measure fan engagement, conversion and reduce churn rate to power any video monetisation strategy. The InPlayer Smart Data feature allows to gather advanced analytics of users activity, engagement, payments and revenue over time.

7. Shorter Content is Proving Popular Across Video On-Demand Apps and Streaming Platforms

The amount of short-form on-demand content has increased due to the “YouTube generation’s” hunger for bite-sized video content. While there will likely always be an appetite for the feature film and tv show format, interest in short content allows companies to innovate and find opportunity for small viewing windows (such as commutes and waiting times) since viewers will be able to fill these with short, self-contained content.

8. Growing Consumer Awareness About Local Issues

Generation Z’s interest in local issues and social dilemmas like environmental sustainability and data privacy are already driving more local and conscious content. Local media of this nature is often distributed via add-on services and bundled content which contain culturally and community-specific content.

9. Online Video On-Demand Services Continue to Blur the Lines Between Streaming and Traditional Broadcasting

The line between traditional cable TV and live stream broadcasting continues to blur as both industries will come to rely more deeply on each other. Telecommunications and broadcasting will drive interdependent partnerships between multiple stakeholders across content development, technology, data, and consumer brands.

10. Spoiled for Choice: Consumers Now Have Access to a Variety of Video On-Demand Apps and Streaming Services

With an ever-expanding amount of content across genres, viewers now have a streaming service to satisfy every mood or TV craving. As a result, most consumers will subscribe to more than one streaming service as prices decrease, limited-time trials entice, and tie-in contracts are offered promotionally.

Competition is Fierce, but Business in the On-Demand Streaming Media Industry is Booming

According to a recent Digital Media Trends study by Deloitte, one of the main reasons consumers choose one particular streaming video service over another is to access and watch content they can’t get anywhere else. The same study found that 57% of paying video on-demand service users said they subscribed to a platform access original content.

Current consumer behavior trends show there’s a great opportunity for video on-demand service providers looking to monetize their content. As the market-leading monetization and subscriber management platform, InPlayer gives you all the tools to make a roaring success of your on-demand streaming media from day one.

Livestream Monetization Made Easy with InPlayer

Quickly and easily monetize live events using our intuitive interface. InPlayer gives you the essential tools needed to set up, manage and monitor the live stream, CDN and video player.

Talk to us to monetize your online content today.

 

10 Important Trends Shaping On-Demand Digital Entertainment

On-demand digital entertainment may be well-established in the UK, US, and other Western European countries, but further afield in major economies like India, Brazil, and South Africa, online video on-demand services are only just beginning to take root. 

The team here at InPlayer have taken inspiration from Discover Digital’s Executive Head of Operations Taryn Uhlmann’s on the key trends shaping the industry, gathered his valuable insights (which you can read in full here), and had a think ourselves where video on-demand apps and platforms are headed next.

So, what are the key trends that will affect how emerging video technology and on-demand streaming media is adopted? Continue reading to find out.

1. On-Demand Streaming Media Hits the Small Screen

The big screen needs to watch out! In their droves, millennials are increasingly opting to view their movies and TV shows from the small screen. Whether the choice is mobile, tablet, or laptop, on the current trajectory it’s clear those devices will become the real entertainment centre in the near future.

2. New Payment Methods for Online Video On-Demand Services

Traditional billing methods will gradually disappear as new, innovative billing models and payment options emerge. On-demand access for audiences who don’t have credit cards or don’t want to commit to a subscription is already growing in popularity among viewers. As well as that, pre-paid, short-duration models including vouchers and loyalty points are proving to be an effective way to encourage people to sign-up for new platforms.

3. Personalized and Individualized Online Video On-Demand Services

Online video on-demand services are already using intuitive algorithms and artificial intelligence capabilities to tailor digital entertainment to individual customers. The modern consumer wants and expects to have their specific needs catered for, meaning on-demand streaming media services need to focus on the niche rather than generic content to stay competitive in the market.

4. The Quality of On-Demand Streaming Media is on the Rise

With so much content to choose from, viewers demand quality. Investment in original content is already increasing because high-quality, exclusive content is both a huge draw for consumers, a massive competitive advantage, and a key differentiator for video on-demand apps, platforms, and streaming sites looking to make their mark.

5. Video On-Demand Apps and Platforms are More Intuitive & User-Friendly Than Ever

User experience (UX) is hugely important not only for customers using the platform but also how they perceive the brand. Content providers must improve UX using enhanced web design and intuitive user interfaces – including emotional design, omnichannel functionality, and lower latency.

6. Big Data & Analytics Offer On-Demand Streaming Media Providers New Customer Insights

Across all industries, big data will play an increasingly important role as companies of all shapes and sizes begin to use instant messaging, social media analytics, and web data to help them better understand their audiences and deliver a video on-demand service that consumers simply can’t refuse. 

Understanding the audience’s preferences and streaming behaviour is central to build a profitable subscription or pay-per-view business – it allows to grow and retain audiences, increase conversions on a website, improve the customer experience, measure the impact of new initiatives and open up new sources of revenue. 

As the industry-leading provider of monetization (PPV and Subscription) and subscriber management solutions, InPlayer is leveraging algorithm-powered data to measure fan engagement, conversion and reduce churn rate to power any video monetisation strategy. The InPlayer Smart Data feature allows to gather advanced analytics of users activity, engagement, payments and revenue over time.

7. Shorter Content is Proving Popular Across Video On-Demand Apps and Streaming Platforms

The amount of short-form on-demand content has increased due to the “YouTube generation’s” hunger for bite-sized video content. While there will likely always be an appetite for the feature film and tv show format, interest in short content allows companies to innovate and find opportunity for small viewing windows (such as commutes and waiting times) since viewers will be able to fill these with short, self-contained content.

8. Growing Consumer Awareness About Local Issues

Generation Z’s interest in local issues and social dilemmas like environmental sustainability and data privacy are already driving more local and conscious content. Local media of this nature is often distributed via add-on services and bundled content which contain culturally and community-specific content.

9. Online Video On-Demand Services Continue to Blur the Lines Between Streaming and Traditional Broadcasting

The line between traditional cable TV and live stream broadcasting continues to blur as both industries will come to rely more deeply on each other. Telecommunications and broadcasting will drive interdependent partnerships between multiple stakeholders across content development, technology, data, and consumer brands.

10. Spoiled for Choice: Consumers Now Have Access to a Variety of Video On-Demand Apps and Streaming Services

With an ever-expanding amount of content across genres, viewers now have a streaming service to satisfy every mood or TV craving. As a result, most consumers will subscribe to more than one streaming service as prices decrease, limited-time trials entice, and tie-in contracts are offered promotionally.

Competition is Fierce, but Business in the On-Demand Streaming Media Industry is Booming

According to a recent Digital Media Trends study by Deloitte, one of the main reasons consumers choose one particular streaming video service over another is to access and watch content they can’t get anywhere else. The same study found that 57% of paying video on-demand service users said they subscribed to a platform access original content.

Current consumer behavior trends show there’s a great opportunity for video on-demand service providers looking to monetize their content. As the market-leading monetization and subscriber management platform, InPlayer gives you all the tools to make a roaring success of your on-demand streaming media from day one.

Livestream Monetization Made Easy with InPlayer

Quickly and easily monetize live events using our intuitive interface. InPlayer gives you the essential tools needed to set up, manage and monitor the live stream, CDN and video player.

Talk to us to monetize your online content today.

 

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