Transcoding is the ability to adapt digital files so that its content can be viewed on different playback devices. Working like an interpreter, a transcoder translates files to a suitable format for the end user. The translations are built upon complicated algorithmic computations and require significant processing resources.
This simply means, you get to enjoy your favorite Netflix,Hulu or YouTube videos or series on your laptop or mobile because of this service sitting back in there and converting all the heavy files to make it compatible with your desktop, laptop or mobile. This should give you an overview of how important this service is. as this service is highly in demand by almost all streaming and social platforms such as Facebook, YouTube, Netflix and more.
The streaming & transcoding industry in the USA alone is expected to reach about $804 billion by 2021, according to the Entertainment & Media Outlook by Price Water house Coopers. As media evolves to a direct-to-consumer world, the streaming industry is becoming more popular than the TV broadcasts. Video commands the most revenue of any entertainment and media sector, that is, about USD $420 billion globally in subscriptions and advertising in 2015 according to PwC.
More people around the world are choosing to stream video through over-the-top (OTT) services, that is, services that deliver film and television content via the Internet, without the need for traditional cable or satellite TV subscriptions. Currently, 78 percent of U.S. consumers subscribe to at least one OTT service according to PwC. OTT market was estimated at $29.4 billion in 2015 and is expected to grow to over $64 billion by 2021.
The above data clearly explain on how the entertainment industry is becoming dependent on multi media content (video and audio), every multi media content needs to be delivered to different devices and hence has to pass through transcoding service. If this service is not reliable, undesirable files will be generated which can cause a bad user experience.
Transcodium aims to provide this services at a cheaper rate using the decentralization and block-chain technology. Transcodium will also target document files such as PDFs, word, text and html.We believe transcoding should not be limited to media files only. Lastly ,our main focus is to help startups and small scale businesses grow with quality transcoding services which fits the budget.