Video and Music Streaming Market Research
Video Streaming is compressed video footage showcased over the Internet for viewing in real time. There’s no need for users to download streamed content to see it. Instead, the content provider sends a continuous stream of data. The viewer can watch the stream right away.
Music Streaming showcases audio, sound and music over the Internet. Users do not have to download files to listen to this content. The user does not have to save a copy of the music to his or her hard drive. Most users can access these services on a website, a subscription or an app. These apps enable customers to enjoy streamed content from their smartphones or tablets when on the go.
New Opportunities in Online Streaming
Industry analysts have written a lot about the rise in online streaming services. One point of contention is their possible effects on traditional TV and radio. Researchers are finding two distinct groups of content streamers. The first group streams movies and music to supplement what’s on cable or the radio. The second group has canceled their cable subscription (cord cutters). Alternatively, they may have never had a subscription (cord nevers). Online streaming is growing, and it’s changing the way people view and listen to content.
Some content providers, such as Netflix and iTunes, have already gone global. Netflix viewers pay a small monthly fee for unlimited access to their library of TV shows and movies. Netflix is available in 190 countries worldwide. ITunes is also available in most countries for around the same price as Netflix. Like Netflix, the service gives users unlimited access to the iTunes’ music library.
Content streaming provides an extraordinary opportunity for live TV and radio. These traditional forms of media must now shift to connected devices. Viewers can now go to YouTube or Facebook to look at their favorite TV programs. Similarly, radio stations now exhort listeners to download free apps. Listeners can use these apps to stream content to their mobile devices. It’s also an opportunity for viewers and listeners, who can now demand new, diverse types of content.
Established content providers are not the only ones producing videos as audio recordings. Houses of worship are already live streaming their services on social media. Analysts expect this trend to continue. Another trend is brands using live video as an essential marketing tool. The third trend is companies using live video in business relations. These videos help reinforce their corporate culture and build stable relationships among employees.
Challenges in Movie and Music Streaming
Digital disruptors like Netflix and iTunes face mounting pressure. The playing field is becoming more crowded. Cable TV providers are also offering smaller packages with fewer channels. These “skinny” bundles are cheaper than the regular deals. Consumers will end up with an overabundance of options, which can be burdensome. It can also turn consumers back to pay TV, which delivers an assortment of content in one, user-friendly, convenient place.
Online Streaming Market Research
Movie and music streaming will continue to grow and change. The two will also merge, as is evident with Spotify. The music content provider partnered with Hulu to offer TV and movies along with its music. Focus groups can test opportunities such as these before they reach the end consumer. Usability and Product Testing can strengthen brands’ offerings so consumers can have a better user experience.
SIS Market Research provides Qualitative, Quantitative and Strategy Research to Online Streaming providers. Our solutions include:
- Usability Testing: Streaming providers can get insights into how usable and user-friendly online streaming platforms are.
- Consumer Insights: Focus Groups can give valuable insight on content and programming. We can also test new programming and TV show concepts.
- Competitive Analysis: Streaming providers can use Focus Groups to test their competitors’ strategies. These insights will enable them to come up with counter strategies.
- Market Opportunity Insights: Focus Groups can help providers discover areas of opportunity. Market Opportunity examines potential areas of uncontested market space. This discovery will help them forge new partnerships and new content opportunities.
- Online Community Development: SIS can build an active Online Insight Community where engaged customers can give feedback on new concepts, and test products.