Digital Media: Rise of On-demand Content

Media consumption around the world is increasingly taking place in digital formats. The increase in the number of devices that support digital media, combined with the increased speed of Internet access, has provided consumers with the opportunity to access multimedia content of their choice anytime and anywhere, whether information, entertainment, or social activities. Media consumption in the United States has increased enormously and has taken a huge leap from traditional media to new (digital) media. The rise of digital media players like Netflix, Hulu, Amazon, Apple TV, Roku, and Boxee, etc., challenges the traditional rule of television as the main entertainment center.

Mobile devices Fuel Digital Consumption Online media consumption has grown enormously in recent years. Among digital devices, mobile devices have become the preferred way to use online media. The smartphone market has experienced unprecedented growth over the past 5 years. Smartphone devices worldwide grew at a CAGR of 17%, compared to a 9.5% growth for all mobile devices. Smartphones passed the 2 billion mark in 2014 and are expected to reach 4.6 billion in 2019. This proliferation of mobile devices makes it easier for consumers to access music and video content.