Who will win the streaming war?
Nowadays, consumers in the US spend as much time watching videos as they spend working, almost 40 hours a week! Digital video revenue is estimated to be over $19 billion and the total video streaming market is expected to reach a whopping $124 billion by the year 2025.
The current major players in the market, including Netflix, Amazon Prime Video, Hulu, are having a decent run. Netflix alone had annual revenues of $15 billion and its main competitors, Amazon and Hulu, earned over $1 billion each. But that is all about to change soon with a few entertainment giants gearing to launch their own OTT services.
There are mainly four new challengers that are expected to enter the market. They are:
- Disney+ from Disney
- HBO Max from AT&T backed WarnerMedia
- AppleTV+ from Apple
- Still Unnamed from NBCUniversal
To begin with, one of the biggest challenges for the existing players is that entertainment heavyweights such as Disney, WarnerMedia, and NBCUniversal have decided to pull their shows from their platform and stream them exclusively through theirs. This means that our most loved shows like The Office, Friends, and others are expected to disappear from Amazon Prime and Netflix very soon.
If you’re complaining you don’t get enough time to watch all the exciting series on Netflix or Amazon Prime, then wait until the new services are launched. Netflix is looking at spending over $14 billion on content this year and Amazon is expected to spend $5 billion on its content. Apple has reportedly committed $6 billion to get new content. This is guaranteed to translate to more original content from each player. You will soon get to watch Stranger Things 4, MindHunter 3, Game Of Thrones spinoff, and more. It certainly is an exciting time for the viewers but also a time for battle for the streaming services.
Here’s a table giving you all the information you need about the current and new streaming platforms.
|Netflix||Amazon Prime||Disney+||HBO Max||AppleTV+||NBC Universal|
|Launch Date||Already Available||Already Available||2019||2020||2019||2020|
|Price||From $8.99 to $15.99 per month||$119 per year or $12.99 per month||$70 per year or $7 per month||Between $16 to $17 month||Unknown||Free with Ads|
|Spending on Content||$14 billion||$5 billion||$500 Million+||$2.5 billion||$6 billion||Unknown|
|Famous Shows||Stranger Things
The Umbrella Academy
The Marvelous Mrs. Maisel
The Man in the High Castle
Marvel Cinematic Universe
|Game Of Thrones
|The Morning Show
For All Mankind
Truth Be Told
Fast and Furious
Other Universal Movies
Who will win this war? Your guess is as good as mine. Although, with their backing and the content they already have, I feel HBO Max and Disney+ have a slight edge.
Is there room for more players? Absolutely. With the right strategy and the right product, your content can also earn excellent revenues and become a significant player within the OTT industry.
To learn how Gizmeon can help your digital media company flourish in this age of streaming, click here