As consumer demand rises for online video and more platforms, devices, and experiences enter the market, video streaming continues its rapid trajectory. Through the Alliance, we are able to engage in significant discussions about what this means for the future of our industry and how to best work together to bring optimal viewing experiences to our customers around the globe.
The Streaming Video Alliance plays a valuable role in evolving an online video ecosystem that is stable, scalable and capable of delivering world-class experiences to consumers. We greatly value the work of the Alliance and its commitment to convening leaders in this space to tackle challenges of global scale.
ViacomCBS is excited to join the Streaming Video Alliance and collaborate with its member technology companies, programmers, and distributors to promote standards around video quality of service measurement and improved streaming efficiency that will benefit us all and our audiences.
The biggest movement we see in the CDN market is exponential growth in the OTT space. Consumers today are taking control of the viewing experience. They’re deciding what to watch, when to watch it, and they expect it to be delivered at broadcast quality to any device. Working alongside Alliance members to develop best practices and industry standards will help our customers take full advantage of direct-to-consumer services.
OTT continues to be a key growth driver and we’re intently focused on delivering high-quality streaming experiences and content to our customers. As a Streaming Video Alliance member, we continue to support the Alliance mission of improved network efficiency, scalability and customer experience.
The Streaming Video Alliance has become a critical voice in the industry, enabling organizations from across the online video ecosystem, even competitors, to come together and collaborate on architecture, specifications and best practices that allow us to navigate a rapidly evolving landscape. As founding members, Qwilt is wholeheartedly committed to the mission of the Alliance and will continue to contribute to the on-going work.
We have over 22.5 million customers across seven European territories, and have just launched two new streaming services in Spain and Switzerland, further strengthening our position as the leading provider of streaming services in Europe. As consumer demand continues to grow, the Alliance is an excellent forum for us to contribute, collaborate and share learnings with other leading streaming services.
As we revealed in our 2017 OTT Video Services Study, OTT video is poised to overtake TV within five years, and yet bandwidth limitation challenges are giving way to concerns around quality of service and quality of experience. There is no better time for us to come together as a united industry alliance to address these potentially show-stopping issues.
As one of the founding members of the Alliance, we have been intimately involved in the industry discussion and working groups that are helping to bring issues to light and work toward solutions. There is a lot of uncharted territory ahead in the OTT market and we are confident that through the work of the Alliance members, including ourselves, we can make positive, long term impact in moving this market forward.
Embracing online streaming is the next big step in the evolution of cable TV and keeping our audience engaged while doing so is critical. Our broadband subscriber numbers continue to rise, representing a growing portion of our business and clearly a sign of the times. Working closely with the other members of the Alliance helps us keep a pulse on the OTT space and problem solve the broader industry challenges.