Improved connectivity and technological advancement in technology have made live video accessible to almost everyone having an internet connection. In today’s digital space, video streaming has become an influential medium for accessing information. Moreover, the increasing preference for streaming services like Netflix, Hulu, Amazon Prime and the growing popularity of live videos among various businesses fuel market growth. Its implementation across applications such as interactive sessions, training centers, educating students, conferencing, and live meetings is driving the market growth. Netflix, Hulu, Amazon Prime Video, HBO, and Disney+ are some of the popular streaming platforms offering unlimited real-time access to original and high-quality content. This innovative streaming provision has enhanced the home entertainment experience and resulted in the expansion of the customer base. A report from Fortune Business Insights said that: “The global video streaming market size was USD 376.06 billion in 2020. The global impact of COVID-19 has been unprecedented and staggering, with video streaming witnessing a significant impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a significant growth of 11.2% in 2020. The market is projected to grow from USD 419.03 billion in 2021 to USD 932.29 billion in 2028 at a CAGR of 12.1% in the 2021-2028 period. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels once the pandemic is over.” Active companies in the markets today include: Live Current Media, Inc. (OTCQB:LIVC), Netflix, Inc. (NASDAQ:NFLX), Roku, Inc. (NASDAQ:ROKU), Cinedigm (NASDAQ:CIDM), Chicken Soup for the Soul Entertainment Inc. (NASDAQ:CSSE).
Yet another report from GrandView Research also paints a optimistic future and an even higher CAGR: It said: “The global video streaming market size was valued at USD 59.14 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.3% from 2022 to 2030.” The Fortune Report said that North America holds the maximum share in the market due to the many streaming providers in the U.S. Also, due to advanced network infrastructure and 5G technology adoption, the demand for video streaming is high in this region. The Asia Pacific is expected to be the fastest-growing region during the forecast period. The increasing number of tech-savvy populations and the growth of smartphone users are some of the factors boosting the growth of Asia Pacific market.
Live Current Media, Inc. (OTCQB:LIVC) BREAKING NEWS: Live Current and Evasyst Complete Merger – Bringing together video streaming, mobile gaming and social media – Live Current Media, Inc. (“Live Current” or the “Company”) announces that it has completed its merger (the “Merger”) with Evasyst Inc. (“Evasyst”) of San Diego in an all share transaction. Evasyst owns and operates the Kast online, social, watch party platform.
Kast is an online, social, watch party platform and community where friends gather to watch videos, play games, and be together. According to Grandview Research, the global video streaming market is expected to grow at a compound annual growth rate (CAGR) of 21.3% between 2022 and 2030. The Kast platform empowers individuals to live-share synchronized video, engage and collaborate within the community and build relationships with like-minded people.
Pursuant to the merger plan, the Company has issued 125 million common shares to the existing shareholders of Evasyst to purchase 100% of the outstanding shares. On closing, David Jeffs resigned as CEO and Mark Ollila, CEO of Evasyst, was appointed CEO and Chairman of the board of Live Current. Mr. Ollila has over twenty years of experience in the games and media technology industry previously with senior roles at Nokia and Microsoft, including leading Nokia First Party Games Publishing.
“We’ve brought together an incredible project, great people and a recently completed capital injection that makes for a very exciting time for everyone involved including our shareholders,” said Mr. Ollila. “The video streaming space is growing rapidly, the mobile games sector is growing rapidly, the social media sector is growing rapidly. We’re at the beginning of what promises to be a remarkable journey and I’m very excited about the new product releases we have coming out in the near future.”