The Streaming Market Overview
“The global video streaming market size was valued at USD $50.11 billion in 2020. It is expected to grow at a compound annual growth rate (CAGR) of 21.0% from 2021 to 2028. Innovations, such as blockchain and AI, to improve video quality are expected to boost the market growth.”
It’s expected that there will be over 800M total global subscribers to services like Netflix, Disney, and HBOMax by 2026 (Statista). Currently the majority of the NFT market is simply images, not video..
Opening up video NFT tools will open up an entirely new market for NFTs and allow for capturing even more content and volume. NFT sales volume totaled $24.9 billion in 2021, compared to just $94.9 million the year before (Reuters DappRadar). NFTs touched a $7B+ 7-day trading volume in mid September 2021, and yet it’s impossible to buy, sell, and stream large video-based NFTs.
The biggest problem with current streaming platforms is that users don’t own any of the content they pay for (they rent it from Netflix/Spotify/etc). They don’t connect directly with the creators, they benefit in no way, creators and smaller studios are being shut down on social platforms or struggling to make money and sometimes have to sell out entirely to a major platform exclusively losing a large chunk of the revenue. Creators have almost no favorable options for financing and distribution, and they are turning to NFTs to fix this.
That’s where we come in.