Advertising spending on Free Video on Demand (FVOD) content is expected to register USD 37 billion by 2022. The service which also includes YouTube and Facebook will see the number of unique users rising to 4.5 billion by the same year as free video media is currently in expansion mode.
YouTube, currently the undisputed player in the FVOD arena will face tough competition from social media platforms. The delivery of live video content across social media is one major growth area and Instagram is only a shining example as it boasts 800 million monthly active users currently with Snapchat registering an approx 178 million daily active users.
With Facebook launching an app and website “Facebook for Creators” to help users refine video content and generate viewership, the OTT content consumption is expected to be passing 840 Exabytes by 2022.