Video on demand is considered as a technology that allows sports events, movies, news and TV programs to be provided directly to a PC, cable companies, internet, mobile phone through satellite TV, IP TV and a set-top box etc. on request. The solutions of video on demand allows the subscribers of digital video to select the content of multimedia according to their own choice from a huge content library. This is done in order for the convenience of the viewers, and that they can watch their favorites anytime by pausing, rewinding, stopping as well as starting the watching content at any preferred time. According to a research firm, Future Market Insights, there is increase in the number of animated videos as well as on-demand providers which can drive the growth of the global market for video on demand service. Additionally, a study mentions that global video on demand service market is likely to surpass US$ 47 Bn by the end of 2027.
Globally, media consumption is increasingly taking place in digital formats. TV-style shows from the social video mix were missing which will be observed going through a change soon as platforms run after mid-roll ad dollars. This will be done through programming along with extended narrative arc compared to average cat videos. Linear OTT TV services like Hulu and YouTube TV are expected to gain traction. Video on demand is anticipated to cover 80% of the over-all internet usage by 2019. Especially in entertainment and media industry, video on demand is dominating. Increase in the demand for entertainment channels in vernacular languages is also expected to drive the growth of the market.
Joint Venture of BBC Worldwide & ITV to Launch BritBox in the U.S
According to a recent news, BBC announced a new JV with ITV, the largest commercial broadcaster of U.K. combine forces for the launch of BritBox. The 2 British content powerhouses who are known for their grond-breaking shows are planning to launch this ad-free SVOD (subscription video-on-demand) service in the U.S. AMC Networks has a JV with BBC for the cable channel named BBC AMERICA and this company is also financing in BritBox along with a non-voting marginal interest. Whereas in the JV between BBC Worldwide & ITV, they share an equivalent majority stake. This streaming service will offer the utmost wide-ranging SVOD compendium of British content. For the very 1st time, the iconic British TV series will be linked in a single and curated service which would allow the viewers as well as the fans to search for the classic shows they are fond of and also find out new hit series.
Features of BritBox
A collection of drama premieres which were never seen before in the U.S. will be displayed. The category “Now” will be featuring an amazing selection of series and soaps that would be available within 24hours soon after the UK broadcast. ITV & BBC’s British classics collection features iconic period dramas.
BritBox would be available on Chromecast, AppleTV, Roku, mobile (Android & iOS) as well as responsive web at launch in the U.S. There are also plans to roll out this service in various other international markets. The prices and other cost structures will be disclosed at the launch. BritBox will be providing streaming experience unlike anybody else along with programs that would be running for thousands of hours throughout a wide variety of genres, amongst which, some will be made available soon after the UK broadcast. This service be largely beneficial for British television lovers.
BBC Worldwide & ITV are expecting growth in their international pay as well as distribution businesses which would allow the British talent and producers to reach out to a larger audience in the largest media market of the world. All-inclusive details regarding the BritBox service which includes additional price and titles, will be disclosed at the launch.