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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.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

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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SOURCE Technavio

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NASA Awards $1.5 Million at Watts on the Moon Challenge Finale

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WASHINGTON, Sept. 20, 2024 /PRNewswire/ — NASA has awarded a total of $1.5 million to two U.S. teams for their novel technology solutions addressing energy distribution, management, and storage as part of the agency’s Watts on the Moon Challenge. The innovations from this challenge aim to support NASA’s Artemis missions, which will establish long-term human presence on the Moon.

This two-phase competition has challenged U.S. innovators to develop breakthrough power transmission and energy storage technologies that could enable long-duration Moon missions to advance the nation’s lunar exploration goals. The final phase of the challenge concluded with a technology showcase and winners’ announcement ceremony Friday at Great Lakes Science Center, home of the visitor center for NASA’s Glenn Research Center in Cleveland.

“Congratulations to the finalist teams for developing impactful power solutions in support of NASA’s goal to sustain human presence on the Moon,” said Kim Krome-Sieja, acting program manager for NASA Centennial Challenges at NASA’s Marshall Space Flight Center in Huntsville, Alabama. “These technologies seek to improve our ability to explore and make discoveries in space and could have implications for improving power systems on Earth.”

The winning teams are:

First prize ($1 million): High Efficiency Long-Range Power Solution of Santa Barbara, CaliforniaSecond prize ($500,000): Orbital Mining Corporation of Golden, Colorado

Four teams were invited to refine their hardware and deliver full system prototypes in the final stage of the competition, and three finalist teams completed their technology solutions for demonstration and assessment at NASA Glenn. The technologies were the first power transmission and energy storage prototypes to be tested by NASA in a vacuum chamber mimicking the freezing temperature and absence of pressure found at the permanently shadowed regions of the Lunar South Pole. The simulation required the teams’ power systems to demonstrate operability over six hours of solar daylight and 18 hours of darkness with the user three kilometers (nearly two miles) away from the power source.

During this competition stage, judges scored the finalists’ solutions based on a Total Effective System Mass (TESM) calculation, which measures the effectiveness of the system relative to its size and weight – or mass – and the total energy provided by the power source. The highest-performing solution was identified based on having the lowest TESM value – imitating the challenges that space missions face when attempting to reduce mass while meeting the mission’s electrical power needs.

Team H.E.L.P.S. (High Efficiency Long-Range Power Solution) from University of California, Santa Barbara, won the grand prize for their hardware solution, which had the lowest mass and highest efficiency of all competitors. The technology also featured a special cable operating at 800 volts and an innovative use of energy storage batteries on both ends of the transmission system. They also employed a variable radiation shield to switch between conserving heat during cold periods and disposing of excess heat during high power modes. The final 48-hour test proved their system design effectively met the power transmission, energy storage, and thermal challenges in the final phase of competition.

Orbital Mining Corporation, a space technology startup, received the second prize for its hardware solution that also successfully completed the 48-hour test with high performance. They employed a high-voltage converter system coupled with a low-mass cable and a lithium-ion battery.

“The energy solutions developed by the challenge teams are poised to address NASA’s space technology priorities,” said Amy Kaminski, program executive for Prizes, Challenges, and Crowdsourcing in NASA’s Space Technology Mission Directorate at NASA Headquarters in Washington. “These solutions support NASA’s recently ranked civil space shortfalls, including in the top category of surviving and operating through the lunar night.”

During the technology showcase and winners’ announcement ceremony, NASA experts, media, and members of the public gathered to see the finalist teams’ technologies and hear perspectives from the teams’ participation in the challenge. After the winners were announced, event attendees were also welcome to meet NASA astronaut Stephen Bowen.

The Watts on the Moon Challenge is a NASA Centennial Challenge led by NASA Glenn. NASA Marshall Space Flight Center manages Centennial Challenges, which are part of the agency’s Prizes, Challenges, and Crowdsourcing program in the Space Technology Mission Directorate. NASA contracted HeroX to support the administration of this challenge.

For more information on NASA’s Watts on the Moon Challenge, visit:

https://www.nasa.gov/wattson

 

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SOURCE NASA

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Kits Eyecare Ltd. Files Final Prospectus For Secondary Offering of Common Shares

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Final Short Form Prospectus Accessible on SEDAR+

/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/

VANCOUVER, BC, Sept. 20, 2024 /CNW/ – Kits Eyecare Ltd. (TSX: KITS) (“KITS” or the “Company”), a leading vertically integrated eyecare provider, is pleased to announce that it has filed with the securities regulatory authorities in each of the provinces of Canada, other than Québec, and obtained a receipt for, a final short form prospectus (the “Final Prospectus”) in connection with the previously announced secondary offering of common shares of the Company (the “Common Shares”) pursuant to which Canaccord Genuity Corp., as sole bookrunner and co-lead underwriter, together with Beacon Securities Limited, as co-lead underwriter, on behalf of a syndicate of underwriters (collectively, the “Underwriters”) have agreed to purchase, on a bought deal basis, an aggregate of 1,125,000 Common Shares held by Roger Hardy and entities managed by Roger Hardy (the “Hardy Shareholders”), LD Group Holdings Ltd. (“LD Group”) and Joseph Thompson (together with the Hardy Shareholders and LD Group, the “Selling Securityholders”) at an offering price of $10.15 per share (the “Offering Price”) for total gross proceeds to the Selling Securityholders of $11,418,750 (the “Offering”). KITS will not receive any proceeds from the Offering.

The Underwriters have also been granted an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 168,750 Common Shares from the Selling Securityholders at the Offering Price for additional gross proceeds of $1,712,812.50 if the Over-Allotment Option is exercised in full. The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the closing date of the Offering, which is expected to occur on or about September 26, 2024 and is subject to certain customary closing conditions.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the 1933 Act or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, and applicable U.S. state securities laws.

Access to the Final Prospectus and any amendment is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, from Canaccord Genuity Corp. at ecm@cgf.com by providing the contact with an email address or address, as applicable.

About KITS

KITS makes eyecare easy. KITS is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. We offer customers access to a vast selection of contact lenses and eyeglasses, including our own exclusive KITS designed products, as well as a robust suite of online vision tools. Our efficient digital platform, backed by our industry-leading manufacturing and designs, removes intermediaries, and enables us to offer great prices and deliver made to order personalized products with incredible care and accuracy. We are creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including online eyewear fitting tools, and virtual try-on for glasses. We strive to delight our customers with our competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning our customers’ lifelong trust. For more information on KITS, visit: www.kits.com.

Forward-Looking Information

Certain information in this press release, including statements relating to the closing date of the Offering, and the exercise by the Underwriters of the Over-Allotment Option, constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by KITS as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail under the “Risk Factors” sections of the management’s annual information form, discussion and analysis of financial condition and results of operations of KITS for the 3-month and 6-month periods ended June 30, 2024, each available at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect KITS; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. In particular, the closing of the Offering is subject to customary closing conditions and there can be no assurance that all such conditions will be satisfied. The forward-looking statements contained in this press release are made as of the date of this press release, and KITS expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE KITS Eyecare Ltd.

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Disparities Narrowing Among Patients Undergoing Blood Stem Cell Transplant, Roswell Park Study Reveals

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Historically, some patients with blood cancers have been less likely than others to receive stem cell transplant, also known as bone marrow transplant. Theresa Hahn, PhD, of Roswell Park is lead author of a new study showing that older adults and Black patients are much less likely than people from other groups to receive a blood stem cell transplant.

BUFFALO, N.Y., Sept. 20, 2024 /PRNewswire-PRWeb/ —

Study led by Dr. Theresa Hahn published in JAMA Network OpenNumber of transplants for blood cancers rose from 2009 to 2018Research team analyzed trends in transplant utilization for that period

Every year, more than 22,000 patients in the U.S. undergo a potentially lifesaving blood stem cell transplant — often called a “bone marrow transplant” — for the treatment of hematologic diseases. But historically, some patients with blood cancers have been less likely than others to receive the treatment. Theresa Hahn, PhD, of Roswell Park Comprehensive Cancer Center is lead author of a new study in the journal JAMA Network Open showing that while progress has been made in reducing those disparities, older adults and Black patients are much less likely than people from other groups to receive a blood stem cell transplant.

“This study shows that while progress has been made to reduce disparities among racial and ethnic groups, there’s a need to improve hematopoietic cell transplant utilization rates in older adults and in Black patients of all ages.” — Theresa Hahn, PhD, Roswell Park Comprehensive Cancer Center

The research team analyzed data provided by the Center for International Blood and Marrow Transplant Research (CIBMTR) for 136,280 patients who underwent hematopoietic cell transplant (HCT) in the U.S. between 2009 and 1018, comparing those numbers with the incidence of six blood cancers (acute myeloid and lymphoblastic leukemia, multiple myeloma, Hodgkin and non-Hodgkin lymphoma and myelodysplastic syndrome) in various age, race and ethnic groups the U.S. as reported by the National Cancer Institute’s Surveillance Epidemiology and End Results (SEER) Program.

The team found that during that period, the use of HCT increased for the treatment of most blood cancers — and rose among all age, race and ethnic groups.

The researchers also discovered that in the most recent years analyzed, from 2017-2018:

The rate of HCT utilization for blood cancers rose among Hispanic and younger patients to equal the rate of non-Hispanic white patients.Non-Hispanic Black patients had a lower rate of HCT for all six diseases studied.Pediatric, adolescent and young adult patients had a higher rate than adult patients of allogeneic HCT, which involves receiving cells from a healthy donor.

“This study shows that while progress has been made to reduce disparities among racial and ethnic groups, there’s a need to improve hematopoietic cell transplant utilization rates in older adults and in Black patients of all ages,” says Dr. Hahn, Professor of Oncology in the Department of Cancer Prevention and Control at Roswell Park and the study’s first author.

The research team also include Dr. Hahn’s Roswell Park colleague Megan Herr, PhD, and collaborators from the Medical College of Wisconsin, Milwaukee; the CIBMTR; and the Mayo Clinic.

From the world’s first chemotherapy research to the PSA prostate cancer biomarker, Roswell Park Comprehensive Cancer Center generates innovations that shape how cancer is detected, treated and prevented worldwide. Driven to eliminate cancer’s grip on humanity, the Roswell Park team of 4,000 makes compassionate, patient-centered cancer care and services accessible across New York State and beyond. Founded in 1898, Roswell Park was among the first three cancer centers nationwide to become a National Cancer Institute-designated comprehensive cancer center and is the only one to hold this designation in Upstate New York. To learn more about Roswell Park Comprehensive Cancer Center and the Roswell Park Care Network, visit http://www.roswellpark.org, call 1-800-ROSWELL (1-800-767-9355) or email ASKRoswell@RoswellPark.org.

Media Contact

Julia Telford, Roswell Park Comprehensive Cancer Center, 716-845-4919, julia.telford@roswellpark.org, roswellpark.org

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SOURCE Roswell Park Comprehensive Cancer Center

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