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OTT Market to Grow by USD 630.5 Billion (2024-2028) with Cloud Streaming Boost, AI-Powered Market Evolution Report- Technavio

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NEW YORK, Sept. 17, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global over the top (OTT) market size is estimated to grow by USD 630.5 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 27.77% during the forecast period. Growing preference for cloud streaming services is driving market growth, with a trend towards growing number of partnerships and acquisitions. However, illegal downloading and piracy poses a challenge. Key market players include 8×8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cineverse Entertainment Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., iMPACTFUL Group Inc., Microsoft Corp., Netflix Inc., Paramount Global, Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., and The Walt Disney Co..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Content Type (Video, Text and images, VoIP, and Music streaming), Device (Smartphones and tablet, Laptop and desktop, and Smart TV), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

8×8 Inc., Alphabet Inc., Amazon.com Inc., Apple Inc., Cineverse Entertainment Corp., Comcast Corp., Deezer SA, Meta Platforms Inc., FlixFling LLC, iflix Ltd., iMPACTFUL Group Inc., Microsoft Corp., Netflix Inc., Paramount Global, Sirius XM Holdings Inc., Sony Group Corp., Spotify Technology SA, Telstra Corp. Ltd., Tencent Holdings Ltd., and The Walt Disney Co.

 

Key Market Trends Fueling Growth

The global Over-The-Top (OTT) market is experiencing significant growth due to the rising demand for audio and video content. To stay competitive, vendors are forming strategic partnerships and acquisitions. In March 2022, Amazon Prime Video acquired Metro-Goldwyn-Mayer Studios (MGM), adding over 4,000 films and 17,000 TV series to its library, including franchises like James Bond and Rocky. In July 2022, Netflix bought Australian animation studio, Animal Logic, to expand its long-form animated content production. These collaborations will strengthen the market’s growth trajectory during the forecast period. 

In the dynamic world of media and entertainment, Over-the-Top (OTT) platforms have taken center stage, particularly in developed countries. With an increasing demand for data traffic, OTT services including podcasts, audio streaming, and OTT media have become the new norm. Satellite providers are shifting focus from provider-based models to OTT devices for wider device availability. Personalized data and social media marketing are key trends driving growth in this sector. OTT communication, online services, and OTT applications are now accessible on Laptops, Desktops, Cloud, On-Premises, Gaming Consoles, Set-top Box, and more. Hybrid models, commercial partnerships, and vertical integrations are shaping the market snapshot. Subscription-based monetization, advertisement, and transaction-based monetization models are prevalent in SVoD services. Freemium models and Indian OTT services offer HD resolution, web performance, and high frame rates for digital video viewers. The OTT market encompasses media and entertainment, telecommunications, online gaming, and more, with e-commerce and alcohol choice adding to the mix. The future of OTT is bright, with continuous innovation and expansion. 

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Market Challenges

The global Over-The-Top (OTT) market faces a significant challenge with piracy, which has become a major concern for content providers. The ease of downloading movies, games, and music for free, with minimal risk of legal consequences, is a pressing issue. In Europe, countries such as the UK, France, and Germany have strict piracy laws. However, in other EU countries, piracy is rampant. The shift to digital content and the growing internet base have made it harder to prevent piracy. In some countries, such as Switzerland, downloading copyrighted content for personal use is allowed but uploading is illegal. Location piracy through Virtual Private Networks (VPNs) or false location apps is also on the rise, causing a loss of revenue for broadcasters. Canada and Brazil have lenient copyright laws, restricting access to OTT services. India, with its high incidence of digital piracy, significantly impacts the sales of original streaming services. This piracy affects the revenue inflow in the global OTT market, particularly in content publishing, and may hinder the growth of the market during the forecast period.The Over-The-Top (OTT) market is experiencing rapid growth as more viewers shift from traditional TV to on-demand streaming services. However, challenges persist. OTT adoption faces resistance due to narrow genre choices and limited packaging flexibility. Wider device compatibility, on-demand viewing, and high-quality content in HD and UHD are essential. Content creators, business models, and subscription fees are key considerations. Subscriptions and new subscribers require a user-friendly interface and personalized recommendations. Higher internet speeds, smart devices like tablets and smart TVs, and broadband are essential for seamless playback. Buffering times and data analytics are crucial for improving the customer experience. Film studios, broadcasters, and advertisers seek to monetize OTT through subscription fees, streaming licenses, local content, and advertisements. The future of OTT includes personalization, recommendation algorithms, and revenue generation through subscription VoD, gaming services, and rich media experiences on handheld devices and game streaming with HD quality and 5G technology.

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Segment Overview 

This over the top (ott) market report extensively covers market segmentation by

Content Type1.1 Video1.2 Text and images1.3 VoIP1.4 Music streamingDevice 2.1 Smartphones and tablet2.2 Laptop and desktop2.3 Smart TVGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Video- The Over-The-Top (OTT) market refers to the delivery of media content directly to consumers via the internet. This includes streaming services for movies, TV shows, and live events. OTT platforms provide convenience and flexibility, allowing users to access content on demand. Companies like Netflix, Amazon Prime Video, and Disney+ have significantly increased their presence in this market, offering a wide range of content at affordable prices. These platforms have become essential for many consumers, providing them with entertainment options that cater to their diverse preferences. The OTT market is expected to continue growing, as more and more consumers cut the cord on traditional TV and opt for online streaming services.

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Research Analysis

Over-the-Top (OTT) refers to video and audio media content delivered via the Internet, bypassing traditional cable and satellite television. OTT platforms offer on-demand access to a vast library of content, including movies, TV shows, podcasts, and audio streams. Subscription fees and advertisements fund these services, providing an alternative to broadcasters and traditional TV. OTT platforms prioritize customer experience, offering personalized data and wider device availability. The content selection on OTT is often more narrow compared to traditional TV, but the packaging options allow for greater flexibility. Streaming licenses enable local content and satellite providers to join the OTT market. The rise of OTT has led to increased competition and innovation in home entertainment, with streaming services becoming a significant player in the media landscape.

Market Research Overview

Over-the-Top (OTT) refers to video and audio media content delivered over the Internet, bypassing traditional cable and satellite television. OTT platforms offer on-demand access to movies, TV shows, live events, original programming, and more, available on high-speed Internet. OTT adoption is on the rise due to narrow genre choices, packaging flexibility, wider device availability, and on-demand viewing. Content creators use various business models, including subscription fees, advertisements, and streaming licenses, to monetize their offerings. OTT platforms are available on smart devices, including tablets, smart TVs, and gaming consoles, offering a rich media experience. OTT media includes high-definition (HD) and ultra-high-definition (UHD) content, personalization, data analytics, and recommendation algorithms. The OTT market generates significant revenue through subscription fees and advertisements. Broadcasters, film studios, and viewers/subscribers benefit from this new home entertainment landscape. OTT also includes podcast and audio streaming, with narrow type selections and packaging options. Social media marketing and 5G technology are driving growth in the developed countries. OTT applications extend to e-commerce, online services, OTT communication, and even gaming services. Data traffic is a concern, but higher internet speeds and provider-based solutions are addressing it. Overall, OTT offers a more personalized and convenient media consumption experience.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Content TypeVideoText And ImagesVoIPMusic StreamingDeviceSmartphones And TabletLaptop And DesktopSmart TVGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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How to Transfer Data from Android to iPhone 16 [Quick]

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — The iPhone 16’s launch has generated excitement, with users eager to experience its advanced Apple Intelligence and 48MP Fusion Camera. As more people upgrade, the need to transfer essential data—like contacts, photos, and messages—from Android devices to the iPhone 16 has become increasingly important, says Tenorshare.

In response, this guide presents 3 different methods, providing users with a range of options to easily transfer to new iPhone 16.

Part 1: How to Transfer Data From Android to iPhone 16 After Setup?

Transferring data from an Android device to the iPhone 16 after setup is made easy with Tenorshare iCareFone iTransGo. This tool allows users to transfer data without resetting the device or losing any existing settings. Here are some top features:

Easy to Use and Quick – One-click automatic transfer makes moving data between Android and iPhone fast.Safe With No Data Loss – Transfer without resetting your iPhone or overwriting existing data.Supports All Types of Data and Selective Transfer – Choose only specific file types to move.Wide compatibility – Supports 8,000+ Android devices and all major iPhone models, including latest iOS and Android versions.

Bonus Tips

Like iCareFone iTransGo, Tenorshare also offers a simple iCareFone to selectively backup data to a computer and restore it to your iPhone 16 without resetting. So, that’s another choice for iPhone 16 data transfer.

How to Transfer Data From Android to iPhone Using Cable via iTransGo:

Step 1: Launch iCareFone iTransGo on your computer. Then, plug in your Android and iPhone to same PC. Enable necessary permissions and click “Start.”

Step 2: Select data, scan, and transfer data to iPhone 16.

Part 2: How to Transfer Data From Android to iPhone 16 Without Cable?

If you want to know how to transfer contacts from Android to iPhone 16 via Bluetooth, meaning without cable, Apple doesn’t allow that. However, you can use WiFi for migration. But it’s time-consuming and requires resetting iPhone. Here’s how to transfer data from Android to iPhone via WiFi:

Step 1: Launch Move to iOS on your Android, and enter code from your iPhone 16.

Step 2: Join a temporary WiFi network on your iPhone. Then, select data on Android, and move it to iPhone 16.

Part 3: How to Transfer Data From Android to iPhone 16 for Free?

Another way to transfer to iPhone 16 from Android for free is through iCloud. But this method is time-consuming. Here’s how to transfer data from Android to iPhone 16 via iCloud:

Step 1: Download files from Android to PC, then from PC to iCloud.com.

Step 2: Next, enable iCloud syncing on your iPhone to access data.

About Tenorshare

Tenorshare prioritizes innovation, safety, and high-quality software to help users achieve their goals efficiently. With iCareFone iTransGo, you can easily transfer data from an Android device to the iPhone 16 without the need for a reset.

YouTube: https://www.youtube.com/@TenorshareOfficial

Facebook: https://www.facebook.com/TenorshareOfficial/

This release was issued through Send2Press® on behalf of the news source. For more information, visit Send2Press Newswire at https://www.send2press.com/.

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Canada Announces Significant Funding to Unlock More Critical Minerals Development in Northern British Columbia and the Yukon

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VANCOUVER, BC, Sept. 20, 2024 /CNW/ – Investments in critical minerals infrastructure are essential to enable Canada to seize the generational opportunity of the transition to a low-carbon economy and capitalize on our rich mineral resources. Canada is well positioned to be a global leader and first-class producer of a wide variety of critical minerals that are essential to power the clean economy and, in turn, create good jobs and support economic opportunities across critical mineral value chains — from upstream exploration and extraction to downstream processing, manufacturing and recycling.

Today, the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, with the Honourable Josie Osborne, British Columbia’s Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Premier of the Yukon, announced up to $60 million in funding, pending final due diligence from the Natural Resources Canada, for two critical minerals infrastructure developments in B.C.’s Golden Triangle and the Yukon. This funding would be provided through the Critical Minerals Infrastructure Fund (CMIF).

Galore Creek Mining Corporation (Galore Creek) is planning to construct a 43-kilometre access road to support the development of its copper mine located in Tahltan Territory in northwest B.C. The Galore Creek deposits contain over 12 billion pounds of copper and, once in production, will significantly increase Canada’s annual copper supply. The construction of the Galore Creek Access Road would link the mine project to existing road infrastructure, provide ground access to proposed mill and processing facilities, and provide the electricity transmission corridor allowing the Galore Creek mine to operate using BC Hydro’s low-emission electricity grid. Road improvements are integral to advancing critical minerals development in B.C.’s northwest, in partnership with First Nations. Pending final due diligence, Natural Resources Canada has conditionally approved an investment of up to $20 million under the CMIF for this project. 

The Government of Yukon is seeking to undertake pre-feasibility activities to advance a 765-kilometre, high-voltage transmission line network that would connect the Yukon electrical grid to the North American grid in B.C. This regional project has proposed energy infrastructure located in two priority regions for critical minerals development — Yukon’s Cassiar and Tanana regions and B.C.’s Golden Triangle. The transmission line could support projects producing critical minerals such as cobalt, copper, molybdenum, nickel, platinum group metals, tungsten and zinc in the Yukon and northern B.C. Pending final due diligence, Natural Resources Canada has conditionally approved an investment of up to $40 million under the CMIF for this project.

The Critical Minerals Infrastructure Fund is a key program under the Canadian Critical Minerals Strategy to address infrastructure gaps and enable sustainable critical minerals production and connect resources to markets through various clean energy, electrification and transportation infrastructure projects. Future funding decisions for projects under the CMIF to further critical minerals infrastructure development are also expected in the coming months.

These projects — which benefit from close collaboration under the B.C. and Yukon Regional Energy and Resource Tables — are, in addition to the recently announced Northwest BC Highway Corridor Improvements Project, key to facilitating critical minerals development in the Golden Triangle and Yukon. B.C.’s Golden Triangle has considerable mineral potential and holds approximately 75 percent of Canada’s known copper reserves. Copper is crucial in various industrial processes and a fundamental component in electrical wiring, electronics and renewable energy systems, including solar panels and wind turbines.

Critical minerals are essential components in products used for clean energy technologies such as electric vehicles, electrical transmission lines and batteries. B.C. and the Yukon’s mining sectors provide many of the building blocks of clean technologies needed to fight climate change and build a clean economy. Across the country, clean energy solutions are providing enormous economic opportunity for Canada.

Quotes

“These two projects, under the Canadian Critical Minerals Strategy’s flagship program, will develop the necessary infrastructure to access and transport our rich critical mineral resources in northern B.C. and the Yukon. Developments like these help mines get built faster, and they are a key element in seizing the generational opportunity before us. These investments are needed to support critical minerals development in the region, improve community access and safety, and create good mining jobs across British Columbia and the Yukon.”

The Honourable Jonathan Wilkinson
Minister of Energy and Natural Resources

“B.C. has the critical minerals that Canada and the world needs to build a clean economy. We have a generational opportunity to create good jobs, not only in northwest B.C. but also in communities across the province that supply and provide services to our mining sector. That’s why we are working with Canada and First Nations on key infrastructure upgrades needed to unlock billions of investments in new critical mineral mines like Galore Creek and provide new opportunities for people and communities.”

The Honourable Josie Osborne
B.C. Minister of Energy, Mines and Low Carbon Innovation

“The Grid Connect Project is more than an energy initiative: it presents a transformative opportunity for all Yukoners. By delivering clean, affordable and reliable clean energy, this project will not only power our homes but also drive economic and social growth. I thank our partners in British Columbia and the federal government for their collaboration on this important project, which will positively impact our northern communities. This is a proud milestone for our government on the path toward a more sustainable energy future.”

The Honourable Ranj Pillai 
Premier of the Yukon

“This project will connect Canada’s two most western jurisdictions, helping bring the Yukon on to the North American power grid. It marks a significant step in our shared journey to build a more connected and resilient energy landscape for Yukoners while reducing greenhouse gas emissions. I extend my deepest thanks to everyone whose hard work and determination made this vision a reality. I look forward to seeing how it will enhance clean energy in the Yukon, help protect our incredible natural landscapes and fuel new opportunities for economic growth.”

The Honourable John Streicker
Yukon’s Minister of Energy, Mines and Resources

“We’d like to thank Minister Wilkinson and the Government of Canada for their contribution to developing the Galore Creek Mine and, by extension, Canada’s critical minerals industry. Canada’s support for Galore Creek represents confidence in our project, our owners, the relationships we have fostered with the Tahltan Nation and our commitment to responsibly developing a world-class copper–gold mine.”

Rob Mean
General Manager, Galore Creek Mining Corporation

“Galore Creek has the potential to significantly increase Canada’s production of the copper needed for the energy transition and global development, generating jobs and economic activity, in alignment with Teck’s focus as a Canadian-based energy transition metals company. This investment by the Government of Canada will support the development of infrastructure needed to advance critical mineral projects and strengthen the nation’s mining sector.”

Jonathon Price
President and Chief Executive Officer, Teck Resources Limited

“Newmont is a 50/50 partner of the Galore Creek Project with Teck Resources. Galore Creek stands as Canada’s largest undeveloped copper project, poised to play a crucial role in the transition to a low-carbon economy. As global demand for copper surges, we will soon face a supply deficit that underscores the project’s significance. The investment through Canada’s Critical Minerals Infrastructure Fund in a vital road for Galore Creek will help unlock the project and the broader region’s substantial critical mineral potential in northwest B.C.”

Bernard Wessels
Managing Director North America, Newmont Corporation

Quick Facts

Canada has developed its own critical minerals strategy with the aim of advancing the development of these resources and related value chains to drive the transition to a low-carbon economy and support advanced technology and manufacturing.The Canadian Critical Minerals Strategy addresses five core objectives:supporting economic growth, competitiveness and job creation;promoting climate action and strong environmental management;enhancing global security and partnerships with allies;advancing reconciliation with Indigenous peoples; andfostering diverse and inclusive workforces and communities.Canada’s whole-of-government approach to critical mineral development is collaborative, forward-looking, iterative, adaptive and long-term. The initiatives presented in the Strategy will be implemented and refined in collaboration with provincial, territorial, Indigenous, industry and other Canadian and international partners.The CMIF is a key program under the Strategy to support enabling clean energy and transportation infrastructure projects necessary to increase Canada’s supply of responsibly sourced critical minerals.The CMIF supports strategic priorities such as decarbonizing industrial mining operations, strengthening supply chains through transportation infrastructure and advancing economic reconciliation by supporting the participation of Indigenous Peoples in infrastructure and critical minerals projects.In addition, the federal government is helping to develop Canada’s abundant critical minerals through NRCan’s Regional Energy and Resource Tables. These regional tables are joint partnerships with individual provinces and territories — in collaboration with Indigenous partners and with the input of key stakeholders — to identify and accelerate shared economic priorities for a low-carbon future in the energy and resource sectors.

Associated Links

Canadian Critical Minerals StrategyGovernment of Canada Launches $1.5-Billion Critical Minerals Infrastructure FundCanada and B.C. Invest in Infrastructure Upgrades to Support Critical Minerals Development in Northwest B.C. and Create Jobs Across the ProvincePrograms and funding for critical minerals projectsRegional Energy and Resource TablesGalore Creek Mining Corporation

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TriVision Joins Forces with USDA Rural Development to Empower Rural America

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WASHINGTON, Sept. 20, 2024 /PRNewswire/ — TriVision, a leading DC creative agency specializing in multimedia production, design and marketing services is proud to announce its collaboration with the U.S. Department of Agriculture’s (USDA’s) Rural Development (RD). USDA RD, which works to foster opportunity and economic security in rural America, needed a creative partner to enhance its communications and outreach efforts with high-quality multimedia content that effectively conveys its mission to diverse audiences. In September 2023, the agency selected TriVision to support its Office of External Affairs (OEA), handling a wide range of services from multimedia and video production to speechwriting, design, web development, and print materials.

Strengthening Rural Communities Across the Nation

USDA Rural Development is dedicated to strengthening local infrastructure, creating jobs, and advancing rural prosperity through innovation and technology. With 70 programs and initiatives, USDA RD supports rural families and farmers affected by both domestic and global economic challenges. Rural America is a cornerstone of the nation, home to resilient, innovative communities and abundant natural resources that supply the food, fiber, and fuel essential to powering the U.S. economy.

In September 2024, the Biden-Harris Administration announced $7.3 billion in funding for rural electric cooperatives to develop clean energy projects through the Empowering Rural America (ERA) program. Combined with other rural clean energy initiatives, this represents the largest investment in rural electrification since President Franklin D. Roosevelt. USDA impacts Americans daily and is transforming the food system by focusing on resilient local production, fairer markets, and access to safe, nutritious food for all.

A Comprehensive Creative Partnership

As a full-service marketing agency offering a one-stop solution, TriVision has been instrumental in helping USDA RD’s Office of External Affairs elevate its communication and outreach efforts. The collaboration spans a wide range of services, including graphic design, video production, website design consultation, speechwriting, printing, logistics and distribution, as well as internal communications support. TriVision’s work involves creating print-ready and digital materials, such as multilingual brochures and booklets, as well as producing and distributing printed content like banners and promotional items for both internal and external audiences.

VIEW FEATURED TRIVISION PAST PROJECTS

One example of TriVision’s work is USDA RD’s history website landing page which not only involved web design consultation but also video editing services for the featured video, “The Story of Rural Development.” This video offers a compelling narrative of RD’s efforts to empower rural communities nationwide. In addition to multimedia production, TriVision’s speechwriters and media specialists regularly support USDA leadership for panel discussions and public speaking engagements.

Looking Ahead

TriVision’s ongoing collaboration with USDA RD has been highly successful, marked by regular weekly coordination and a shared commitment to excellence. This collaboration demonstrates TriVision’s ability to deliver innovative, results-driven multimedia solutions for government agencies, helping them communicate effectively with diverse audiences.

This partnership builds on TriVision’s longstanding history with USDA, which has included impactful projects for the USDA National Bio and Agro-Defense Facility (NBAF) and the USDA Natural Resources Conservation Service (NRCS). One notable project for NRCS was a 10-minute documentary titled NRCS Indiana – Women in Farming highlighting the growing role of women farm owners and how more and more women are entering agriculture as new farmers.

TriVision looks forward to continuing its partnership with USDA RD to enhance their outreach efforts and further their mission to advance rural prosperity. Click to view full USDA RD case study.

VIEW TRIVISION STUDIOS’S VIDEO PRODUCTION PORTFOLIO

About TriVision
TriVision is a full-service creative agency specializing in design, branding, multlimedia/video production, creative marketing, digital strategy, and strategic communications. With over 25 years of experience, TriVision partners with federal agencies, private businesses, non-profits, associations, educational institutions, and global brands to deliver impactful, results-oriented marketing campaigns. Located just outside Washington, DC, in Northern Virginia, TriVision’s state-of-the-art production studio enables it to offer comprehensive integrated marketing solutions, including strategy, brand positioning, visual identity, messaging, web design, collateral design, advertising, digital marketing, video production, public relations, and more. To learn more about TriVision, visit www.TriVision.com.

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