Assignment Task
Assignment Brief:
The task is divided into two parts (Part 1 & Part 2) and candidates are expected to address both. Video on Demand Market size was around USD 55 billion in 2019 and is projected to grow at 15?GR from 2020 to 2026. Real-time streaming of high-quality video using smartphones and smart TVs is driving the market revenue. Furthermore, the increase in consumer spending and recent technological advancements in internet speed will fuel the market growth. (Global Market Insight, 2020) The coronavirus (COVID-19) pandemic has positively impacted the video on demand market demand. Consumers across the globe are spending a significant amount of time on various screen such as mobiles, televisions, and tablets helping market players to expand their subscription through digital advertising. For instance, in April 2020, Netflix gained15.8 million new subscribers in the first quarter of 2020 compared to 7 million new subscribers in the first quarter of 2019. The market participants are expected to increase their subscriber base in near future due to strict lockdown regulations across the globe. (Global Market Insight, 2020) Prominent companies operating in the video on demand market include Amazon.com, Inc., Apple Inc., The Walt Disney Company, Google LLC, Microsoft Corporation, Netflix, Inc., Sony Corporation, Tencent Holdings Ltd., Zee, Rakuten, HBO, and Viacom CBS. Industry players are expanding their paid subscriber base through strategic alliances.(Global Market Insight, 2020)
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