Global Online Video Platform Market Size Expected to Reach $915 Million By 2025
- Financialnewsmedia.com News Commentary
PALM BEACH, Fla., Oct. 14, 2020 /PRNewswire/ -- The global public cloud software as a service (SaaS) markets one of the few economic markets that have actually thrived during the pandemic. Despite causing a global economic turmoil and negatively affecting some sectors, such as hospitality and travel, the COVID-19 pandemic has led to a sharp increase in demand for certain industries, like online gaming and ecommerce. Quarantines and lockdowns are driving huge spikes in online traffic in China, and digital marketing — already on the rise — may be more effective than ever. Many countries, especially China, have a growing middle and upper-middle class, driven by its robust economic growth over the past few decades. The fast-growing Chinese wealth has led to tremendous consumer opportunities for both domestic and foreign companies to expand their businesses to. Software adoption has been rising rapidly, especially in the advertising and marketing spaces, as both Chinese and foreign companies seek to effectively target and market towards Chinese customers, especially digitally where the captive Chinese consumers spend most of their time. With hundreds of millions of potential online customers and the growing wealth of businesses wanting to target them, huge potential exists in the Chinese digital advertising industry. Active Companies from around the market with current developments this week include: Oblong, Inc. (NYSE: OBLG), Business Warrior Corporation (OTCPK: BZWR), Magnite (NASDAQ: MGNI), Cloudfare, Inc. (NYSE: NET), Zoom Video Commumications, Inc. (NASDAQ: ZM).
An industry report from Market Data Forecast said that The global online video platform market size was at $ 456 million in 2020, and is projected to reach $ 915 million by 2025, growing at a CAGR of 17.50% from 2020 to 2025. The report said: "The online video streaming market has dramatically increased traction in commercial facilities with an evolution towards professional mobility with various applications such as Facebook, YouTube, Twitter and Instagram, leveraging the strength of portable communication devices. The rising penetration of mobiles and tablets with the trend of digitization is a crucial factor predicted to propel the need for online video platforms at an exponential rate during the outlook period. The SaaS model segment is expected to grow at a high CAGR during the forecast period of 2020 to 2025."
Business Warrior Corporation (OTCPK: BZWR) BREAKING NEWS: Business Warrior Announces Six Months Straight of Subscriber Growth - Business Warrior Corporation, the source for small businesses in America to get more customers, announces six months in a row of subscriber growth (March thru September). The rate at which new businesses have subscribed to the platform has increased by 300% per month since March, which shifted when the company made enhancements to their platform to help small businesses during COVID. Additionally, the company added a new suite of solutions to their software platform in July when they launched their Marketplace. Revenues generated from the Marketplace have increased consistently since July and this continues to be a major growth channel for the company.
Consistent growth in subscriber base combined with continuous monthly revenue growth from their marketplace products sets them up for long term success. Business Warrior is able to take a free subscriber on their software and upgrade them into paid products. These positive results indicate that the company is able to execute on their fundamentals, while they continue to scale operations and grow revenues.
Marketing Solution Excels with Video Advertising - The company's best performing solution in the Marketplace is their Marketing Plus package. This is a low cost entry level marketing solution that is priced for small businesses. For just $249 per month, businesses are able to get short professionally produced videos for advertising. Custom video advertisements are typically unaffordable to small businesses, yet Business Warrior continues to bring solutions to the small business community that were previously only available to large corporations with large budgets.
The company has been in beta testing with the video advertising feature since August and is now deploying the service to all subscribers who upgrade to either Marketing Plus or the Warrior Pro plan. The videos are built to deliver brand awareness, drive new leads, and boost sales conversions for the subscriber.
"Small Businesses need a complete arsenal of tools available to compete in today's marketplace. Videos are becoming table stakes for local businesses to showcase their services and talents. Our affordable pricing combined with video advertising, presents one of the most valuable ways a small business can improve their toolset to get more customers", says Jonathan Brooks, President of Business Warrior. Read this full release and more news for BZWR at: https://businesswarrior.com/investor-relations/
In the industry developments and happenings in the market this week include:
Oblong, Inc. (NYSE: OBLG) an award-winning leader in multi-stream collaboration solutions, recently announced over the course of 2020 amidst the global pandemic it has been granted seven patents that further define its leadership in multi-share collaboration offerings.
Oblong's Mezzanine™ technology platform enables team members to work together in-person and remotely in a unique multi-share environment. "As businesses return to the workplace and develop new modes of hybrid collaboration, we expect the need for multi-share to increase significantly," says Peter Holst, Oblong's Chief Executive Officer. "Oblong defines multi-share as a mode of collaboration where distributed users simultaneously share, view, and work with multiple streams of content. Oblong's Mezzanine™ is the leader in this space, with award-winning, technologically advanced offerings, and these patents further our leadership and define the pathway forward to improve upon and extend beyond the traditional conference room setting."
Magnite (NASDAQ: MGNI), the world's largest independent omnichannel sell-side advertising platform, recently announced its expanded relationship with Discovery in support of its leading real life entertainment streaming service, dplay platform, to maximise programmatic advertising capabilities. Magnite's platform provides Discovery with control and efficiency for ad podding, inventory hierarchy, targeting, and real-time reporting. Magnite will also develop custom solutions to support Discovery's unique product range and roadmap, as well as auction capabilities, like bidding, in a private environment. This will result in more choice and control in the hands of advertisers and gives audiences the best viewing experience possible.
Discovery will also benefit from Magnite's real-time, sub second data feeds and rich activity reports, allowing for comprehensive diagnostics and measurement across the entirety of Discovery's inventory. Using the power of programmatic, this collaboration will help Discovery bring its inventory to a greater number of advertisers who are looking to reach highly engaged audiences in premium, brand-safe content environments on any screen size.
Cloudfare, Inc. (NYSE: NET), the security, performance, and reliability company helping to build a better Internet, recently announced Cloudflare One, a comprehensive, cloud-based network-as-a-service solution for your workforce. As more businesses rely on the Internet to operate, Cloudflare One protects and accelerates the performance of devices, applications, and entire networks to keep workforces secure. Now businesses can protect their workforce in a flexible and scalable way, without compromising security as distributed teams work from multiple devices and personal networks.
"After decades of building legacy corporate networks, organizations are left with clunky systems designed to protect their now empty offices. The only way to secure today's work-from-anywhere economy is to secure each individual employee, protecting their individual networks, devices, and access to business-critical applications," said Matthew Prince, co-founder and CEO of Cloudflare. "With Cloudflare One, we're giving organizations of any size the power to solve their security and networking needs seamlessly, no matter how their business needs shift."
Zoom Video Commumications, Inc. (NASDAQ: ZM) recently announced a line-up of celebrity and business guests for main-stage keynotes and 'Zoom In Moments' that will occur throughout Zoomtopia, scheduled virtually on October 14-15, 2020. Zoomtopia is an annual event for Zoom to celebrate its users and showcase how video-first unified communications are empowering the workforces of today and transforming the workspaces of tomorrow.
Attendees will hear from business leaders including: Mark Cuban, Jensen Huang, and Arianna Huffington. Additionally, attendees will enjoy unique 'Zoom In Moments' where celebrity guests will pop-in throughout the event to entertain, teach, and inspire. Celebrity guests include:Bobby Brown- Makeup artist and founder of Beauty Evolution; Mikey Day - Comedian and writer; Ava DuVernay - Filmmaker and founder of ARRAY; Andre Iguodala - NBA Player for the Miami Heat, venture capitalist and author; Marcus Samuelsson - Chef and restaurateur; Kenan Thompson - Actor and comedian; Gabrielle Union - Actor, activist and author; and Clea & Joanna from The Home Edi - Reality Netflix show helping clients declutter and organize.
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