Subscription services become increasingly prominent as well
According to Juniper Research, over 70% of streamed video sessions will occur on smartphones by 2025. That’s due to the emergence of social videos on platforms like TikTok.
Although, these do not yield a high number of advert slots per video watched. That means smartphone advertising spend will only grow at an average rate of 2% each year over the forecast period.
Meanwhile, the report found there will be nearly 2 billion active subscriptions to on-demand video services in 2025. That’s a 65% increase over the end of 2020. Traditional broadcasters are expected to drive this growth in order to extend their reach and compete with online video giants such as Netflix and Amazon Prime Video.
We’ve reported that Strive Masiyiwa, a Zimbabwean billionaire has been named to join the Netflix board. Strive will become the first African director in one of the leading streaming services. This comes as Netflix Inc. looks to venturing into new markets to boost its growth.