Entertainment finds itself in the midst of digital disruption, which will be amplified once 5G internet begins to hit the mainstream. The trends included here illustrate shifts that are not only changing the consumption of entertainment but also creating new distribution channels and devices to engage with content.
let's see some data.
1. Subscription streaming video services continue to grow.
Are you subscribed to a streaming service?
Video continues to comprise over two-thirds of the total revenue for subscription streaming services (music accounts for just under a third) and is predicted to keep increasing at a strong pace for 2020, up 24% to $21.9 billion.
2. Streaming media players' unit sales are catching up to traditional set-top boxes.
CTA estimates there will be 3.3 streaming media players sold for every DVD/Blu-ray player sold in 2020.
This number was 1.1 in 2016, and it represents the stunning shift in the consumption of streamed, mostly rented (either directly or via a subscription) content, versus the traditional ownership of a physical copy.
3. Streaming device sales have replaced disc players, but disc legacy remains.
CTA estimates there will be 3.3 streaming media players sold for every DVD/Blu-ray player sold in 2020.
This number was 1.1 in 2016, and it represents the stunning shift in the consumption of streamed, mostly rented (either directly or via a subscription) content, versus the traditional ownership of a physical copy.
4. Smart TVs continue to grow.
CTA predicts Smart TVs will make up 74% of all new TV sets sold in 2020, up 4% from the estimated total for 2019.
The increase in ownership of these devices has grown from 24% of households in 2014 to 60% in 2019 and is expected to rise again in 2020.
5. 4K is beginning to get big.
CTA predicts 4K Ultra High-Definition TVs (4K UHD) will make up almost 50% of new TVs sold in 2020, the highest proportion of sales in their history. This represents an increase of 10% on the estimated total for 2019, and it may be due to the average unit price falling for the second straight year.
6. Gaming is bigger than you think.
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Revenues from video game software continue to rise, with 2020 predicted to bring in double that seen in 2015. For context, the software gaming industry is estimated in 2019 to be 2.2 times as large as a subscription streaming video.
7. 5G is about to land.
Smartphones vs. 5G Smartphone Unit SalesLong promised, 5G internet is arriving. This will have an effect on three key areas:
In-home internet.
Smartphones.
Entertainment.
8 VR and AR may finally realize their potential.
The growth in VR/AR eyewear stalled in recent years, following the high of 2016. Growth rates either declined or were sluggish in the years since, but 2020 is predicted to see double-digit growth for the first time in four years.
Conclusion
The emergence of new distribution channels and entertainment formats will create opportunities for innovative new entrants to disturb once-locked markets.
# do you currently have a game or device that uses virtual reality?
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I can't find #3 and I think #8 is numbered 1.😀
You got some good statistics here! Great job.
To respond on: "do you currently have a game or device that uses virtual reality?"
Yes, indeed recently I stumbled upon one amazing VR game.
I made a post about this 3 days ago, if you have time check it out.
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