Renewed Deals With Video Streaming Channels to Bring a Boom For Streaming Devices

  • 12 Dec 2021 10:30
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Renewed Deals With Video Streaming Channels to Bring a Boom For Streaming Devices

The popularity of streaming devices has experienced a significant increase over the past couple of years with technological advancements and a rise in content consumption through different channels. Changes in consumer preferences have brought tech companies to launch new devices and renew deals with streaming channel providers. The launch of new products enables market players to gain a wide audience and improve their stake in the market.

Moreover, renewing deals help both collaborators to tap on new business opportunities and improve profitability in different ways. The demand for streaming devices has experienced traction over the past few years and will grow over the coming years. According to the published report, the global streaming devices market is expected to reach $18.97 billion by 2027.

Following are some of the activities taking place across the world:

The launch of new products with advanced features and innovative services is one of the crucial strategies implemented by market players to gain more market share and a competitive edge over other players. Xiaomi, the Chinese tech giant, launched its streaming device Mi TV Stick in the Indian market in August 2020. This stick would enable consumers to stream content from Amazon Prime Video, Netflix, Disney+ Hotstar, and other streaming platforms on their TVs. Moreover, it can be connected to a TV through an HDMI port for transforming TV into a smart TV.

The stick has been backed up by Android 9 OS and offers access to over 5,000 apps from Google Play Store. It boasts 1GB of RAM and 8GB of internal storage. It is equipped with Bluetooth v4.2 and has dual-band Wi-Fi 802.11a/b/g/n/ac support. The streaming ability of the stick is up to 1920×1080 pixels at 60fps. A remote accompanying the stick provides support to Google Assistant voice controls. The company is expected to face competition from Amazon Fire TV stick in the country. Before the launch of this stick, Xiaomi launched the Mi TV Box 4K. It is capable of streaming 4K and HDR content from different streaming platforms such as Amazon Prime Video and Netflix.

Streaming devices providers have been offering streaming content from different platforms and renewing deals is one of the crucial strategies to make their devices available to a wide audience. TiVo, with its TiVo+ and TiVo 4K Stream devices, inked a renewed deal with Tubi, a streaming service from Fox. The streaming service offers more than 23,000 movies and TV episodes. Following the successful collaboration till now, TiVo customers can avail Tubi’s new offerings, Tubi Kids and Tubi en Español. Tubi is available on the TiVo Stream 4K platform.

Current and Future Product Developments:

TiVo, as a market player, can extend its content lineup for its ad-supported streaming service TiVo+, which in turn, helps in generating revenue streams. For Fox, which acquired Tubi in early 2020, this renewal offers expansion in distribution services. This can improve engagement, viewership, and advertising revenues. Such deals help streaming device market players and collaborators to improve their business and profitability.

Determining the trend of video streaming devices and increase in usage at homes, TikTok launched an app “More on TikTok” on Amazon Fire TV devices. This app provides video playlists and compilations from the mobile app. Nick Tran, the Head of Global Marketing for TikTok, told The Verge that the company has been thinking about how it can connect with users through streaming devices such as Fire TV to provide a dynamic experience. The company has been experimenting with how it will perform on TV screens. More on TikTok is launched as a view-only channel and will be available for free. This TV app by TikTok will offer two new content categories, In the Studio and This is TikTok. The first will offer interviews with TikTok stars, and the latter will feature creators.

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Harold Abelson By, Harold Abelson
Hello, everyone! Harold Abelson is my name. I am passionate about technology and discussed my enthusiasm with you via Sublime. I am trying to offer the most reliable resources of all technical subjects.
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