The Different Types of Video Streaming Apps

If broadcasters consider building a streaming platform, they are undoubtedly aware that the video and live streaming markets have seen their share of spectacular successes and disappointments over the last decade.

FREMONT, CA: Platforms for live video streaming have exploded in popularity over the last few years. Global mobile users streamed 146 billion hours on mobile devices in Q1 2019, according to App Annie's State of Mobile 2021 report. By Q4 2020, they have streamed approximately 240 billion hours—a nearly 65 percent increase in just two years. For 2020 alone, the growth was 40 percent to 935 billion hours. Recent predictions indicate that the overall market will reach $842.93 billion in value by 2027. To summarize, many are interested in participating in this.

It is critical to understand the many sorts of video chat programs. Therefore, let's look at some of the various types of video streaming services available on the market.

Live Video Streaming Apps

Streaming services aimed at the gamer population are growing in popularity. Twitch is a perfect example of this, with an average of 2.9 million concurrent users, 27 million DAU, and a market capitalization of over $15 billion. To build a streaming service on the scale of Netflix or Twitch, streamers need to contend with the technological aspects of the platform and its large community of artists and consumers.

On-Demand Video Streaming Apps

Nowadays, virtually every home has access to on-demand mobile video streaming apps. Netflix, Hulu, Amazon Prime, Disney Plus, and Apple TV are just a few of the most popular.

In addition to SVoD, certain on-demand video streaming apps are beginning to offer live television. Hulu is an excellent illustration of this. Streamers may view over fifty live television channels, including some local ones.

Video Streaming Apps from TV Providers or Networks

Additionally, video streaming apps are available from television providers and particular networks. These include HBO NOW, Starz, and Showtime streaming. Rather than paying for premium channels as part of a cable package, as was previously the case, customers can now purchase individual premium channel content.

Certain users subscribe to and pay for multiple services concurrently. Netflix was the most popular service, with the vast majority of users of other services also subscribing to it, although Amazon Prime Video was a close second. According to Statista, 84 percent of Netflix subscribers in the United States also subscribed to Amazon Prime Video and more than 50 percent to Hulu.

This means that users' interactions with various services are becoming more entwined. This tendency intensifies rivalry among SVoD market participants for client acquisition and time spent in the app.