The Streaming Wars Get Crowded
Streaming services such as Netflix and Hulu are beginning to lose steam in terms of churning out popular content. Netflix, in particular, will eventually have to part ways with Friends and The Office, two of the most popular and highly streamed shows that the service has to offer. Why would Netflix do such a thing? The answer is that it is being forced to.
Large companies such as AT&T are beginning to see the value in having their own streaming services. They realize that they will just as easily be able to draw in customers from Netflix, Hulu, and HBO. In order to do so, AT&T’s upcoming streaming service, WarnerMedia will pull all of their original content from these other services, including shows from Friends to One Tree Hill. This is bad news for Netflix, which is down 12% from one year ago. The scary thing for services such as Netflix is that WarnerMedia is not the only entity looking to join the streaming race, others such as Apple, Criterion, Discovery, and Disney are also looking to take part in the competition.
What this means for consumers looking to binge watch their favorite TV shows is that they will have to pay subscriptions for access to an increasing amount of services. The most dedicated fans will have to pay for more streaming subscriptions in order to get their fix. This raises the question of whether or not it is worth it to own subscriptions to more than one service, especially when the most popular TV shows and movies are spread out across a plethora of platforms.
What streaming services will begin to see is a wide spread of customers across these platforms. Streaming giants like Netflix, Hulu, and HBO will see reductions in number of subscribers and as a result must either begin to create and or stream very popular shows and movies, or, lower the price of their monthly subscriptions to keep their customers paying. The market for streaming services will soon be entering a period of stiff competition, in which the entity with the highest quality content or biggest “bang for your buck” will reap the highest rewards.
Written by Matthew Durborow, Edited by James Mueller & Alexander Fleiss