2024: An exciting year for video.

The video industry has undergone a significant transformation in recent years, with the rise of over-the-top (OTT) video services and the increasing popularity of streaming platforms. According to Nielsen’s State of Play report, Americans increased their average weekly time streaming video by 18% between February 2021 and February 2022prioritizing customer experience will be more likely to retain and attract new customers. This trend is expected to continue in the coming years, with the global OTT video market expected to double in size by 2024.

One of the most significant trends in the video industry is the shift towards short-form video content. Platforms like YouTube Shorts, TikTok, and Instagram Reels have gained immense popularity, with users creating and sharing videos that are 60 seconds or less in length. This trend is expected to continue in 2024, with more companies focusing on creating short-form video content that is optimized for mobile devices.

Another trend we can expect to see in 2024 is the continued focus on customer experience. Media and entertainment companies will continue to prioritize providing a seamless customer experience, from personalized recommendations to easy-to-use interfaces. Companies that prioritize customer experience will be more likely to retain customers and attract new ones.

With the rise of big data, media and entertainment companies increasingly use analytical tools to gain insights into their customers’ behavior. These tools can help companies identify trends, optimize their content, and improve their marketing strategies. In 2024, we can expect to see more companies implementing analytical tools to gain a competitive edge.

Chatbots are becoming increasingly popular in the media and entertainment industry. They can be used to provide customer support, answer questions, and even recommend content. In 2024, we can expect to see more media and entertainment companies implementing chatbots to improve their customer experience³.

Cryptocurrency is becoming more mainstream, and media and entertainment companies are starting to take notice. In 2024, we can expect to see more companies accepting cryptocurrency as a form of payment. This will make it easier for customers to purchase content and will also help companies reach a wider audience.

Regarding video players, we can expect to see some exciting developments in 2024. One of the most significant trends is the improvement of streaming quality. With the rise of 5G networks, we can expect to see faster and more reliable streaming services that can deliver high-quality video content.

Another trend that we can expect to see in 2024 is the rise of virtual reality (VR) and augmented reality (AR) video players. These technologies have been around for a while but are becoming more accessible and affordable. In 2024, we can expect to see more media and entertainment companies experimenting with VR and AR video players to create immersive experiences for their audiences.

Finally, we expect more media and entertainment companies to adopt a multi-channel strategy. With so many different platforms available, companies need to create content that is optimized for different platforms and devices. In 2024, we can expect more companies to focus on a multi-channel strategy to reach a wider audience.

In conclusion, the video industry is evolving rapidly, with new trends and technologies emerging yearly. In 2024, we can expect to see more companies focusing on short-form video content, customer experience, analytical tools, chatbots, and cryptocurrency. We can also expect to see improvements in streaming quality, the rise of VR and AR video players, and the adoption of multi-channel strategies.