Global online video platforms market is anticipated to grow at a CAGR of 12.5% during the forecast period. The rising popularity of online videos, with viewership steadily surpassing traditional video content platforms such as cable and satellite television is driving the global market. The growing startup funding is promoting the growth of the global market. The advancements in information and communication technologies have driven the demand for online video platforms for E-learning. These platforms are designed to be scalable to large online masses, with free participation, and without formal requirements to provide millions of individuals around the world the opportunity to learn through hundreds of public and private universities or organizations across the globe.
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Latest Insights from the Global Online Video Platforms Market
- Various new businesses and start-ups are entering into market and raising funds for the development of online video platforms, supporting market growth. For instance, in March 2023, Zarta raised $5.7 million to build a “micro pay-per-view” video platform for creators which includes participation from Andreessen Horowitz, Endeavor, AirAngels, Dragonfly Capital, and others.
- Brands across different industries are collaborating with video platform giants to provide solutions video-based tech solutions for seamless customer experience. For instance, in October 2023, X, the platform formerly known as Twitter, announced a strategic partnership with global celebrity and entrepreneur, Paris Hilton. The collaboration aims to promote X’s innovative ‘live shopping’ feature, marking a significant milestone in the evolution of online retail.
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- Governments are noticing the growing trend of online video platforms resulting in investment and development of Online Video Platforms. For instance, in June 2023, the Government of Canada announced an investment of $49.0 million in Ross Video Limited to support Ross Video’s $236.0 million project to create a hybrid cloud event-production platform and suite of tools to transform live-event production. This project will develop more flexible and cost-effective solutions that will improve the ability to create high-quality live media that can be used in news, sports, concerts, cultural events, conferences, and government or corporate events.
- The online video platform is governed by the laws of different countries. Violating such laws results in a fine or ban on the specified online video platform. For instance, in October 2022, Turkey’s competition authority fined Facebook-parent Meta Platforms Inc. 346.72 million Lira ($18.63 million) for breaking competition law.
- Governments across the globe are updating the laws related to video streaming and data protection to protect the privacy and interests of the users. For instance, in December 2023, Italy’s communication watchdog AGCOM rules on video-sharing platforms to protect minors by removing “harmful content”. The new rules will take effect from January 8, 2024, and potentially affect services such as Google’s YouTube, TikTok, and Meta’s Instagram.
- The key market players operating in the global video platforms market include Vimeo, LLC, YouTube, LLC, Brightcove Inc., Dailymotion SA, and Kaltura Inc. among others. The market has become a pioneer for new entrants to bring creative solutions and technology by collaborating with existing market players driving the market growth. For instance, in March 2023, ZIKTALK, a web 3.0-based short-form video platform signed a virtual asset customization (trust) contract with KODA. Through this contract, the ZikTalk Foundation will keep the ZikTalk token in KODA’s “virtual asset consignment service” system. KODA will keep the volume of ZIK tokens and distribute them to the market according to the schedule planned by the ZikTalk Foundation in the white paper to provide stability and transparency of virtual assets. Through this contract, the ZikTalk Foundation plans to manage virtual assets more safely and transparently by using KODA’s custodial services according to the appropriate standards required by certain financial information laws.
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