The past few years have seen a massive shift from cable TV to streaming services. With more and more businesses shifting to the streaming model the competition has begun to heat up. This race for gaining a larger number of subscribers has been described as War for greater viewership.
With greater choices available like those that Spectrum internet offers, it was clear that the first casualty was going to be Cable TV. However many have debated if streaming services would completely eradicate traditional methods of consuming visual media. Many consider streaming to be the future of entertainment. Therefore this battle for subscriptions requires further exploration.
Streaming and its Popularity
The first on-demand video service was started in 1998. ITV was created by a Hong Kong-based telecom company. However, due to licensing challenges and a lack of demand due to widespread piracy, the service could not take off. Netflix started its streaming services in 2007. By now the internet and overall technological infrastructure had significantly improved. The viewers were instantly attracted to the idea of watching movies and series on their own time. Streaming was also cheaper and more convenient than buying or renting DVDs.
As the internet became more widespread the consumption of online Media skyrocketed. This made using a streaming service with tons of shows and movies all the more convenient and attractive. The pandemic, however, forced almost everyone to stay at home, this skyrocketed the demand for on-demand video content and more and more people jumped on the streaming bandwagon. Suddenly every other media house wanted its streaming service. The streaming wars had begun.
Key Players
Netflix: The first and undoubtedly the biggest streaming service, Netflix currently holds the streaming crown with an estimated 682.7 million viewers. Netflix’s smart collaboration with Starz and lack of any competition paved the way for its initial access. Netflix took an instant advantage and invested in improving its service quality. Moreover, with the production of exclusive TV series and movies, it attracted even more consumers. Adding to this, its quick expansion strategies already made it a giant before any new player could enter the market.
Amazon Prime: Created by the E-commerce giant. Amazon carried on the practice of providing a large selection of shows and movies, along with original content. Amazon combined this with a lower price and the including it amazon prime. Amazon Prime is a premium service that provides its users with free shipping, music, and an e-book library. Currently, there are around 200 million prime subscribers in the world.
Disney+: Being a relatively new entrant, Disney+ had catching up to do. However, with the number of popular franchises in its belt its popularity was inevitable. Now the service has exclusive rights to any content related to Marvel, Star wars, Pixar, and all the past collections of Disney movies and shows. It also launched Disney+Hotstar services exclusively targeting Indian audiences. Disney plus currently has about 164.2 million subscribers.
Hulu: Along with a library of Tv shows and movies including originals. Hulu Plus also provides live Television services. Thus this becomes a service for those who want to stream live television in one package.
Other than these there are more emerging streaming services. HBO Max recently jumped onto the scene with popular shows like House of the Dragon and Last of us. Apple has also jumped into the streaming market with Apple TV. Moreover, there are now a few free streaming services that support advertisements such as Pluto TV and Roku channel. Moreover, Global production houses have started to create their streaming services such as Indian based Eros now.
End of the War
For the consumers, this war has been beneficial. To get more and more subscribers, the businesses were creating exclusive high-quality collections of media that were available at competitive prices. Screen and password sharing made it even more popular. Further addition of audio and subtitles in multiple languages made the content all the more accessible. Cable never stood a chance. However, it is still used by many for live content like the news or sports.
In contrast streaming businesses have been spending a little too much to gain more subscribers. Therefore many of these platforms including Disney+ and Netflix have raised the prices of their ad-free subscription services. Some analysts state that many major businesses are moving towards consolidation of services and slowing down their expansion at all costs strategy. However, even if the pace is slowed it is clear that streaming is here to stay and with so many businesses jumping in it the war is going to be a long one.