Online Movie Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 06/10/2016 -- Online Movie Market: Overview
Online movie refers to a service, where an individual can access featured movies online using internet protocol. This platform enables user to watch any available movie from the database as desired at any given time and at any place with internet access. Rising demand for online movies is mainly attributed to the increased adoption of smartphones, augmented broadband services, hectic lifecycles, ease of access towards comprehensive movie collection, convenience of watching movies at any place or time and others such notable factors.
Moreover, user friendly interface has influenced maximum users to access broad range of collection through genres, recommendations and augmented filter options. Furthermore, with the introduction of online featuring movies, the competition between online movie vendors and multiplex owners is rising significantly.
Online Movie Market: Drivers
Recent advancements in the Internet have enabled users across the globe to retrieve wide array of movie collection with the help of high speed internet connection through downloading or streaming. Rising box-office success throughout the globe is one of the major factors driving a large number of users to switch to online movies.
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Furthermore, increasing efforts by the vendors to encourage more and more users by offering attractive subscription packages are further driving the market growth. Moreover, declining trends of consumers buying physical copies of movies such as DVDs and VCDs is the another key driving factor affecting the market growth for online movies. The online movie market is expected to witness tremendous escalation in the North America market owing to rising success and attractiveness of Hollywood movies. This success is due to advanced graphics, themes and concepts. Also, increase in mobile advertisement spending to bring brand awareness has further influenced the market for the vendors of online movies.
However, rising threat of piracy is one of the major concerns restraining the market growth for online movies market. Introduction of "Stop Online Piracy Act" (SOPA) and the "Protect IP Act" (PIPA) by the U.S. has affected online movies vendors significantly, thereby restraining the market growth.
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