As we welcome 2015, it’s important to reflect on just how important 2014 was in the evolution of video on a global basis. From the genius of Jeroen Wijering to contemporary creativity in the world of media and innovation in video streaming, there’s plenty to reflect on, and a lot to look forward to in 2015.
The predictions of 2013 following the innovation path in 2014
In 2013 predictions were made that media innovation would continue to grow in areas such as the increasing use of sliders to bring a touch of the Hollywood big scale to independent video production, and timelapse evolving with the use of hyperlapse, with the movement of the camera adding an extra dimension to the process. It seems that all of the predictions for the continued popularity of innovation in the media and entertainment industry were correct.
A survey conducted by BCG Perspectives found that the industry maintained its innovation level against the previous twelve months, as opposed to industries such as automotive and agriculture where the innovation level decreased.
Wijering’s views on innovation
At ReelSummit 2014 Wijering spoke to a captivated audience about three of the biggest innovations in video; adaptive streaming, video transcripts, and hotspots for interactive video. Few people can be as qualified as Wijering to bestow their thoughts on others. The creator of JW Player is a well- respected innovator in the world of video.
1. Adaptive streaming is a real cost saver as it allows the creator to distribute and play video content without the need to load entire files. This means that if viewers do not stay around to enjoy the whole video there is no bandwidth price to pay for content that is unseen. It’s the process of choice for video content giants such as YouTube.
2. Transcripts advantages are two-fold. Not only does captioning videos allow the viewer to read along with the video; it also makes the videos searchable via the recognized search engines which increases viewer traffic, and potential revenue.
3. Interactive video hotspots are the way forward, to make your videos more accessible to those viewing them. Your viewers can jump to particular spots in the video that they want to watch; thereby greatly enhancing the viewer experience.
Video streaming surges deep
The past year was the year of video streaming! In terms of growth, internet usage has been dominated by video streaming. There has been huge interest among end-users in watching movies on-demand and viewing video content on every device: TV, personal computers, laptops, tablets, and smartphones. In entertainment, the rough estimates say that video streaming is responsible for 30% of overall Internet traffic.
Besides entertainment, video streaming is spreading on other vertical markets. Education and health are the finest examples. Education professionals are watching documentaries, movies, and instructional videos as a vital part of the learning process. Students prefer learning through visual elements as (graphics, images) opposed to text alone and there have been huge advances in mobile learning.
2015, the innovation continues
The massive consumer acceptance of video and increasing expectations will challenge telecommunications networks and their capacity to fulfil the technical requirements (speed and network design). ISPs must adapt and improve their network in order to cope with the video booming rise and make sharing experience smooth and fast. The growing sales of smartphones and tablets is a trend that will inevitably carry on and should ignite more mobile distribution of video and digital content. Nowadays, over 20% of video views are happening on mobile devices, and that trend is growing quickly (according to a eMarketer’s report).
These are some exciting steps on the video innovation ladder, that doesn’t seem to have an end. Our team at InPlayer is pretty enthusiastic about all these advancements and will be carefully tracking all the developments on the market.