Internet penetration and affordable smart phones have been two key drivers for Streaming Video Platforms. Yes, there has been improvements in platform’s capability including UI/UX, seamless payment integrations and unlimited supply of content. But largely the drivers haven’t changed much in past few years. This leads to interesting questions about the future of streaming video. Will it be more targeted and personalised? Will it depend on newer smart devices or consolidation of platforms? How about the impact of 4G?
The recent announcement by Mark Zuckerberg about Metaverse definitely has the potential to impact Streaming Video and take it to next level.
What exactly is Metaverse?
There has been massive speculations around Metaverse with some people calling it a glorified video game and improved versions of Fortnite or Roblox. There has been comparison to the movie matrix with life like digital world.
Based on the initial statements by Mark, the Metaverse is supposed to be an intersection of physical and digital world. It will have a self-sustained economy of its own including digital currencies. Interoperability will be another key aspect with options to traverse walled gardens of current platforms like Android, iOS and apps like Snapchat.
What does it hold for Streaming Videos?
Imagine you have an avatar in Metaverse, and you drive down to your friend’s home and then meet with your friend’s avatar. And together both the avatars are watching a movie or show together. There is a possibility of creating your own watch list and sharing subscription with your fellow avatars. And once you are done watching a series, how about meeting those characters, and interacting with them in the Metaverse.
Video streaming providers can potentially create their own sections within Metaverse and interact with users. There can be options for users to create their own world with user generated content. All these possibilities have potential of massive revenue generation and engage users. With an ecosystem that can engage users and combine both physical and digital world, the streaming platforms can find new territories beyond the limitations of physical devices.
And what if all big companies create their own Metaverses with a possibility of interoperability in future. That will surely be the first step to the Matrix and Video Platforms wouldn’t want to stay behind.