It’s been fascinating watching the media industry being ripped apart, and pulling itself back together again, over the last 20 years by the Internet and Software. Disruption started with print and all its manifestations, associated use cases and business models. Then it was Music’s turn when Napster hit it big followed by more “legit” options such as iTunes, Spotify, Pandora, Last.fm. Video was next and Over The Top (OTT) video streaming service combined with an explosion of devices to consume video on have completely changed the way people are watching video – and TV followed closely in its wake. No more tuning into Channel Zero every weekday at 7pm – instead you watch your favorite esports team online or call in sick to binge on the new season of ….
Internet video traffic exploded and will comprise 79% of all consumer Internet traffic in 2018 (1). Delivering high quality media streaming can be technically complex due to the large variety in content formats, protocols, transmission options, and device-specific factors, for example. Certainly distribution is the major cost factor – for successful content at least. And while demand is very healthy, customer expectations are increasing and not delivering the expected quality of experience impacts viewer engagement metrics such as abandonment rates, viewing time and ultimately a forecasted $20B loss of revenue for global premium brands in 2017 due to poor quality video streams (2).
Bitmovin today announced its investment by Speedinvest and we’re excited to be able to support the team to continue to innovate around streaming media technology and bring solutions to market that will enable new cases and deliver order of magnitude improvements in the performance, quality and economics. The ability to massively scale cloud-based transcoding and encode hours of HD video in minutes, or be able deploy the computing resources to significantly reduce bandwidth requirements without compromising on quality, has value. A single client/SDK suite that deliver up to double the effective bitrate throughput compared to Apple HLS, especially in variable mobile network conditions and without adding stalls/buffering, is relevant for end users, service providers and advertisers alike.
The revolution is being streamed – and bitmovin’s streaming it!
(1) Cisco Visual Networking Index: Forecast and Methodology, 2013–2018, http://www.cisco.com/c/en/us/solutions/collateral/service-provider/ip-ngn-ip-next-generation-network/white_paper_c11-481360.html.
(2) Conviva, 2013.