The video industry has been in a virtual lockup for the past year.
With the advent of Netflix and Amazon’s Prime Video, video consumption is expected to reach a new all-time high in the coming years.
The rise of the internet has also led to a shift in how people consume media, with Netflix and other video-streaming services providing a faster, more seamless experience than traditional channels.
But as consumers increasingly turn to video services for their entertainment needs, the industry has also been hit with the rise of “cloud-based video” services that promise to cut out traditional media outlets like TV and radio and replace them with an entirely new digital ecosystem of video content and services.
The following five video-sharing platforms are poised to gain significant traction over the next several years, according to analysts at Cowen & Co. The company said the video streaming service market is expected by the end of 2020 to be worth $9.5 billion.
In its research report, Cowen forecasts that the video sharing market will grow from $1.5 trillion in 2020 to $9 billion in 2021, with revenues of about $9 trillion.
It expects video services to account for 40% of the market by 2021.
The four companies that made up the top three among the industry’s leading video streaming services in 2020, according, are:Snapchat, Facebook and YouTube, each with $1 billion in revenues in 2020.
The top five video streaming providers in the US are:YouTube, which is up more than 25% this year; Snapchat, which has been on a tear; Instagram, which was down 30% this month; and Snapchat Inc., which has more than doubled its market share.
The video-receiving companies, which are Facebook, Twitter and Instagram, all saw revenues of $1,821 million in 2020 and $2.5 bn in 2021.
That’s up almost 20% from the previous year.
Instagram’s revenues are forecast to grow to about $4 billion this year and to $6.5bn in 2021 from $3.6 billion in 2020; Facebook’s to $8.4 billion in 2018 and $10bn in 2020 from $2 billion in 2019; and Twitter’s to about the same amount as in 2021 as it’s expected to grow from about $3 billion in 2017 to about three times that this year.
Snapchat’s growth has been fueled by the launch of its photo-sharing service, which recently hit 1 billion users and has nearly doubled its monthly active users to over 1.5 million.
Snapchat has also added new video features in recent months, including a video-like search feature that allows users to quickly filter content based on the topics of interest.
Snap is also hoping to capture the video audience with its new social-networking features that are available for iPhone and Android devices.
Its latest mobile app, Snapchat Stories, which launched earlier this month, will allow users to post and share video clips from other people and organizations.
Instagram recently launched Stories for desktop and mobile.
The five top video-sharers in the U.S. in 2020 are: Facebook, which generated about $1 bn of revenues; Instagram and Twitter, which generate about $2 bn; Snapchat and Snapchat, who each generated about 5% of revenues.
The companies’ shares have grown by roughly $2 each since the beginning of the year, according a Cowen analysis of data from FactSet.