According to a report, consumers worldwide watch over four hours of online video every day with highest daily viewing in India at five hours and sixteen minutes.
As markets started crashing with dwindling economic activities with the onset of Novel Coronavirus COVID-19 infection in India, many people started inquiring about how to invest in equities or equity-oriented mutual funds (MFs) to take advantage of investing in low markets. However, dreams of many to be first-time investors got shattered as they were not KYC-compliant to invest in equities.
At that challenging time, video KYC came to the rescue of prospective investors as they became eligible to invest by verifying their identity through videos.
Videos also facilitated organisations keep on working by allowing the teams working from home to hold their daily office meetings through video conferencing.
Thus, not only investments and official works, but video streaming also makes it possible for people to keep boredom aside as they remain locked down in their homes.
According to a new global “How Video is Changing the World” report from Limelight Networks Inc, online video equips 93.8 per cent of people to maintain their daily activities as the pandemic forced them to work remotely.
In fact, online video helped 30.8 per cent of the respondents in India to work from home for the first time by helping 23.3 per cent of people in staying connected to colleagues and helped 50 per cent of respondents work more efficiently.
To stay informed, 91.7 per cent of people have watched live stream speeches and press conferences during the pandemic.
According to the report, consumers worldwide watch over four hours of online video every day with highest daily viewing in India at five hours and sixteen minutes.
The report suggests that online video is enabling new forms of interactive entertainment as people quarantined in their homes increasingly depend on video streaming to pass their time.
With other live events cancelled, 68.8 per cent of Indians attended their first virtual concert, while 64.3 per cent people had their first e-sports experience during the COVID-19 pandemic.
Apart from entertainment, videos also help people to maintain physical fitness during the lockdown by doing Yoga and other activities with 55.6 per cent people in India having participated in an online fitness class and another 26.8 per cent plan to do so in the next six months.
The report also reveals that as much as 97.8 per cent people in India now use video chat to fill the void of in-person social interactions during the lockdown, and 65.4 per cent use it multiple times a day to feel more connected.
With OPDs and many of the clinics remaining closed during the lockdown, 45.8 per cent of respondents in Indian have recently met with their doctor virtually.