The market for legal video services in Russia grew by 50% in 2020 and amounted to 62 billion rubles. This information was published in the report of the J’son & Partners Consulting agency. The study was conducted in the format of an online survey. 69 campaigns took part in it, including social networks, online cinemas, telecom operators and information platforms.
So, according to the agency, YouTube for the first time shared the leadership positions with social networks, although at the same time its market share significantly decreased (from 14.4% to 13.5%). It is impossible to accurately estimate the profit of a video hosting service, since Google does not provide publicly available financial reports.
Mail.ru Group, which includes VKontakte and Odnoklassniki, suffered much more. Previously, the company was the undisputed leader, but now its share in revenue from video content has decreased by 3.1% and amounted to 13.5%. Profit also decreased for media company IVI (from 14.4% to 13.3%) and Sberbank (from 9.9% to 9.1%). The indicators improved only for Yandex (from 6.6% to 8.6%), but the company still remained in the last position among the leaders.
The press service of Mail.ru Group noted that VKontakte and Odnoklassniki are not classic examples of video services, since social networks do not have paid subscriptions. The platforms provide a free ad run. In addition, according to the company, by the end of 2020, the number of views on VKontakte increased by 60%. In the research of the analytical agency, we are talking about the growth of paid subscriptions, and therefore it is not surprising that the indicators of Mail.ru Group have decreased.
Dmitry Kolesov, director of the TV and content department at J’son & Partners Consulting, confirmed the words of the Russian company. He noted that the video advertising market is not developing as rapidly as paid content. This was the reason for the reduction in the share of Mail.ru Group.
Analysts of J’son & Partners Consulting assume that the income from legal video services in Russia will increase by about 19% every year, and by 2024 it will amount to more than 122 billion rubles. The agency associates such predictions with the pandemic and quarantine restrictions, due to which the Russians had to switch to online platforms. Perhaps users have felt the benefits and availability of remote services, which will be the reason for the growing popularity of legal video services.
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