Streaming Services Reap the Benefits of a Homebound Populace
Huitao Technology Co., Ltd. - Ordinary Shares (HHT)
Company Research
Source: PR Newswire
NEW YORK, July 30, 2020 /PRNewswire/ -- As the pandemic continues to put a strain on the worldwide economy, one side effect is the sharp increase in online streaming content consumption. In a report by Forbes, internet streaming and usage figures show that as the pandemic placed a quarter of the world's population under lockdown, millions of people went online for entertainment and more. "Total internet hits have surged by between 50% and 70%, according to preliminary statistics. Streaming has also jumped by at least 12%, estimates show." Data published by OMedia earlier in April indicates that increased consumption of digital content from mobile apps to TV and gaming is took place in China and Italy, with a possible increase in online traffic of as much as 50% in the two countries. Another winner will be over-the-top (OTT) media services, such as those provided by Netflix or Hulu, with revenue forecast to be up 12%, equivalent to USD 6 Billion. Color Star Technology Co., Ltd. (NASDAQ
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