The media and telecommunications sectors are experiencing massive disruptions. During the pandemic, consumers streamed entertainment at unprecedented volumes and subscribed to new video services by the millions. Demand for next-generation over-the-top (OTT) video delivery services continues to increase worldwide. We expect global video operators to continuously adapt their delivery infrastructure to meet surging streaming demand over the next two decades.
In the first quarter of 2022, consumer spending on streaming video subscriptions rose nearly 17% to a record $6.9 billion, up from $5.9 billion in the first quarter of 2021. Not only did overall media consumption pick up in the first quarter, but media and entertainment companies continue to develop binge-worthy content, creating more than 550 scripted shows last year, up more than 200 since 2013.
Raj Patil, CEO of Orion Innovation spoke to Forbes about the impact of changing consumer habits during the pandemic on global video operators and the benefits gained by operators investing in transforming their technology stacks.
Click here to read the article on Forbes.
