How streaming entertainment continues to grow

How streaming entertainment continues to grow

Streaming home entertainment boomed during the pandemic but was expected to cool down when societies started opening up thanks to vaccination effects. However, despite these predictions, streaming adoption continues to increase in almost every single region quarter after quarter but with more modest growth in mature markets like North America, according to the Q3 2021 State of Streaming report from Conviva, a US-based company specializing in online video optimization.

Streaming viewing time grew 21% worldwide in Q3 2021 as compared to the same quarter in 2020, led by Africa, Oceania and South America while North America, an established streaming market, held steady with the most modest growth of any region, up 2% the report shows.

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“Streaming viewing has grown 266% over the past three years, completely transforming the entertainment, publishing and advertising industries,” said Keith Zubchevich, CEO, Conviva. “Topics like quality of experience, advertising measurement and social engagement are now top of mind and the publishers that effectively leverage opportunities to improve in these areas will not only lead the industry in subscribers and viewer satisfaction, but also revenue.”

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The report says publishers are investing heavily in video content on social media platforms in Q3 2021 – especially YouTube – in order to test new content and promote their catalogue with viewers. Streaming platforms increased their content output on YouTube by 97%, which resulted in an 8.4% increase in views and a 24% increase in engagement. Audiences for streaming platform accounts grew by 66% on YouTube in Q3 2021 as compared to Q3 2020.

 

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