The mobile video market is set to be worth $32 billion by 2017 according to new research from industry analysts GIA (Global Industry Analysts)*. The report indicates that the primary driving factors behind the growth include the continued introduction of high-speed mobile networks, increasing availability and decreasing cost of sophisticated mobile phones that enable users to download and play videos, competitive inexpensive data plans by service providers and growing popularity of social networking sites among mobile users.
Encouraged by the huge demand for entertainment from mobile users, content providers, ranging from independent content developers to large-scale movie studios are beginning to develop video especially for mobile devices. Mobile video is gaining tremendous popularity amongst mobile users across the globe, fuelled in part as a result of services such as Yamgo. The Yamgo TV network transcends geographies and enables content providers to engage with an increasingly lucrative and developing market.
The research reveals that the mobile video market has continued to grow and withstand the global financial crisis which has affected so many other industries since 2007. The continual increase in smartphone and tablet sales combined with improved access to 3G networks has allowed the market for mobile video to flourish whilst so many other have faltered. The study also demonstrates that the demand for quality entertainment is not compromised by tough economic times with the hunger for streaming mobile TV and video remaining largely untouched.
Modern consumers expect a richer and more superior mobile experience that includes more than just calls, texting and web search. As a result the market for mobile TV and video presents a rich and dynamic opportunity for content owners, broadcasters, media companies and advertisers. The entertainment on the go delivered by services such as Yamgo is mutually beneficial for both consumers seeking entertainment and businesses looking to capitalise on those growing number of mobile users around the world. Mobile TV provides users with a cost effective form of entertainment, including live news, sports and music videos, and offers content providers and advertisers the opportunity to engage and monetise large scale audiences.