Video streaming services are celebrating big wins after this year’s Oscars: Netflix scored its first award for its original documentary short, The White Helmets, while Amazon racked up statuettes for its full-length features Manchester by the Sea and The Salesman. And although Netflix’s dominance over the streaming media market appears to be facing challenges from Amazon, Hulu, Apple, and traditional content companies, the company still boasts more than 80 million users in 200 countries.
Video is the leading form of online entertainment
How important is streaming video compared to other online forms of entertainment, such as games or audio (music and podcasts)? According to Verto Analytics data, video still takes the lion’s share in online entertainment, regardless of device among U.S. consumers (ages 18 and above). The effect is most profound on PCs, where video reaches 64% of all consumers, nearly double that of audio (37% reach) and well above games (41% reach). And on smartphones, video enjoys an incredible 81% reach among consumers, compared to 67% for audio and 57% for games. That’s a lot of consumer attention and time – and a huge addressable market for the online streaming companies and legacy content studios who are all vying for a share of audience.