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The global streaming video market size was valued at $59.14 billion in 2021 and is expected to expand at a compound annual growth rate of 21 percent from 2022 to 2030.
In the case of Mexico, according to a study conducted by The Competitive Intelligence Unit (The CIU), Mexicans spent up to 5,000 pesos a year on these services.
Disney+ is increasing the price of your streaming service by 38 percent, as part of a plan to generate more revenue for its online businesses and build on third-quarter results that beat estimates for sales, earnings and subscriber growth.
Market of the streaming
The global streaming video market size was valued at $59.14 billion in 2021 and is expected to expand at a compound annual growth rate of 21 percent from 2022 to 2030. technology blockchain and Artificial Intelligence(AI) is used to improve video quality.
AI is playing an essential role in editing, cinematography, voiceovers, off script writing, and various other aspects of video production and upload. These innovations are expected to positively influence the growth of the market. Several video streaming solution providers are using AI to improve the quality of video content. In the recent past, the popularity of such platforms in streaming media such as YouTube and Netflix has increased considerably.
In May 2016, Netflix implemented AI to create a personalized experience premium for your subscribed consumers.
Furthermore, the rapid adoption of mobile phones due to the increasing popularity of social media platforms and other digital media for branding and marketing will drive market growth.
On the other hand, the consumer segment accounted for the largest share of revenue in 2021, with nearly 51 percent market share. This is attributed to the rise in viewership of live streaming and video-on-demand services from the media and entertainment sector. The consumer segment is expected to grow due to the convenience of remote video viewing. Rising mobile subscriptions and adoption of connected devices, especially smartphones, are expected to contribute to segment growth.
In that context it is Disney It features an ad-supported version of the flagship streaming service and drops the price of the ad-free option to $11 per month.
The introduction of an ad-supported tier is intended to increase subscribers and generate more revenue by giving customers options on how much they want to pay for the service. Disney it said last month that it sold $9 billion worth of ads for the upcoming TV season, with 40 percent of that going to its online offerings.
Current Disney+ subscribers will start seeing the ad-supported version unless they accept the price increase for the commercial-free plan.
Disney has been steadily raising prices for its streaming services in recent years and announced in early March that it planned to launch an ad-supported Disney+ subscription sometime this year, with an international offering planned for 2023.
“With our new ad-supported Disney+ offering and an expanded lineup of plans across our streaming portfolio, we will bring a greater variety of consumer choices at a variety of price points to meet the diverse needs of our viewers and attract more viewers. an even wider audience. ”, said Kareem Daniel, president of Disney Media & Entertainment Distribution, in a statement.
However, it is not the only company that has increased its rates. ESPN+ established a few weeks ago that it would raise prices to 43 percent starting on August 23. Previously, the monthly cost of ESPN + was 6.99 dollars and with the new costs it will go up to 99.99 dollars.
As we can see, a measure that users join the platforms of streaming The cost of streaming TV shows and movies, once considered a much cheaper alternative to owning a cable box, is rising.
streaming services, including Amazon Prime, Disney+, HBO Max, Hulu and Netflix, they are increasing their monthly subscription fees now that they have gained a foothold in the market and can count on more consumers cutting the proverbial cord.
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