BRISTOL, UK—The move towards cloud-based production technologies has been rapidly accelerated by the Covid-19 pandemic, a trend that Rethink Technology Research expects to continue.
In a new report, it is forecasting that cloud-based video production costs will more than triple from $602 million in 2020 to about $2.48 billion in 2026.
This will, however, still be a small part of the total production costs of the video industry, which it is projecting to grow from $291 billion in 2020 to around $376 billion in 2026.
The report, "Cloud Production Technologies – Market Forecast 2021-2026" noted that the global TV industry has the by far the largest share of cloud-based video production costs. followed by the global SVOD sector and the global film sector.
More information on the report is available here.
George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.
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