The Transactional Video on Demand Market was valued at 11.46 billion in 2022 and is expected to grow at a steady rate of around 7.2% in the forecasted period (2023-2030) owing to the proliferation of smartphones and other smart devices. Transactional Video on Demand (TVOD) is a distribution model in the digital entertainment industry where users pay for individual pieces of content on a per-view basis. In the TVOD market, consumers can rent or purchase specific movies, TV shows, or other video content, gaining access to the content for a limited period or indefinitely. Content owners are using TVOD (Transactional Video-on-Demand) streaming services to fill gaps in their distribution and monetization strategies, particularly by offering high-quality content to international audiences on a pay-per-view basis, thereby increasing the value of the market. For instance, take the case of The Batman (2022), produced, and distributed by Warner Bros. Pictures.
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Key Highlights of the Report:
Ø Growing Demand for TVOD Content: With the rise of streaming services like Netflix, Hulu, and Amazon Prime Video, the demand for high-quality TVOD content has increased significantly.
Ø Increased Competition: The TVOD market is becoming increasingly competitive with new players entering the scene. Major studios such as Warner Bros., Disney, and Universal are investing heavily in their own streaming platforms, while companies like Apple, AT&T, and Comcast are also expanding their offerings. This competition will likely lead to more innovation and better content options for consumers.
Ø Personalization and Recommendations: To stand out in the crowded TVOD market, providers are focusing on personalized recommendations and tailored content experiences. Data analytics and machine learning algorithms are being used to suggest relevant titles based on users' viewing history and preferences.
Ø Mobile Accessibility: With more people consuming video content on mobile devices, TVOD providers are optimizing their platforms for seamless mobile access. This includes improving user interfaces, reducing buffering times, and offering flexible pricing models that cater to different viewer preferences.
Ø Niche Content and Specialty Genres: As the TVOD market becomes saturated with mainstream content, niche genres such as anime, documentaries, and independent films are gaining popularity. Providers are recognizing this trend and investing in these specialty genres to attract a wider audience.
Some of the recent developments are:
Ø In October 2023, Udemy launched Udemy for Business, which provides organizations with access to over 8,000 courses for employee training and professional development. This new offering includes features like course tracking, content recommendations, and analytics to measure progress.
Ø In November 2023, AT&T announced plans to expand its international video content offerings through partnerships with global streaming platforms like Netflix and Hulu.
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Conclusion
The market is becoming increasingly competitive with new players entering the scene, leading to more innovation and better content options for consumers. Providers are focusing on personalized recommendations, mobile accessibility, and specialty genres like anime and documentaries. Additionally, interactive content and digital advertising are emerging as important trends in the TVOD market. According to the UnivDatos Market Insights analysis, “Transactional Video on Demand Market” report, the global market was valued at USD 11.46 billion in 2022, growing at a CAGR of 7.2% during the forecast period from 2023 - 2030 to reach USD 19.81 billion by 2030.