However, software is just a small component of a much larger effort. Successful services are more than just an app, they are video businesses, and as the landscape gets even more complex, that is becoming increasingly key.
One of the biggest challenges for content providers today is the continual change in the way video is delivered and consumed. There is greater competition than ever before and consumers are watching content on a wider range of different devices than ever before, all with different formats and a whole host of technical challenges.
For the traditional TV providers, there is a struggle to remain relevant, with a higher percentage of, especially younger, consumers opting for streamed video, rather than linear TV. According to Nielsen, 45% of the video content watched by adults in the United States overall was on TV sets by mid-2016. But Millennials watched only 31% on TVs. 11% of the TV content watched by Millennials was over streaming video devices, while adults over 50 years of age watched only 3% that way. Nearly a quarter of video consumption by millennials was via mobile smartphones.
To read the full article, by our SVP Business Development, Fredrik Andersson, click here, it can be found on pages 12-13.
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