Streaming video industry size is $10.5B+

You already know that video streaming is huge on the web these days, but what exactly is a web series?

You may have seen popular web series like House of Cards, Game of Thrones, Suits, etc. on streaming platforms such as Netflix, Amazon Prime, Hotstar,and many more which are unlike any conventional television series. They are edgy and fresh, with high production values which are only matched with films, and are now a rage all over the world. In India too, they have made their mark and there are millions of online streaming viewers watching their favorite series all the time. The format breaks free from staid television formats — they have rich content, no censorship issues, and they push the envelope which has never been done on television earlier before. Netflix plans to spend a whopping $6 billion on content in 2017, meanwhile, Amazon is set to spend $4.5 billion on video itself. And both combined Netflix and Amazon are estimated to spend a combined $10.5 billion on video this year. There is no surprise here that the aggressive spending by them highlights their ambition to become the ‘IT’ destination for high-quality videos.