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The global digital video content market has been growing substantially due to an increase in the number of people having access to high-speed internet. An increase in the sales of devices like smartphones, tablets, laptops, and TVs has also given a boost to the market. People are switching over to online media services like Netflix, Amazon Prime Video, Verizon, and YouTube for entertainment purposes.
North America was the largest market in 2020 and is also expected to dominate the industry in the forecast period, owing to its geographical vastness and the number of people having access to high-speed internet. The increased penetration of major streaming services and the growing digitisation in the region have also aided the growth of the digital video content market in North America.
The global digital video content market experienced a sharp increase in 2021 due to the lockdowns implemented in many countries due to the COVID-19 pandemic. Netflix, Inc. (NASDAQ: NFLX), one of the major players in the market, experienced a 14% rise in its stock value at the beginning of April 2021, when compared to the start of the year 2021.
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The major players in the global digital video content market are Google LLC, Hulu LLC, Facebook Inc., Snap Inc., Amazon.com Inc., Netflix, Inc., Apple Inc., AT&T Inc., and Comcast Corp., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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