The Big Streaming Race
The Big Streaming Race
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  • 승인 2022.05.15 01:29
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▲From Netflix to beyond / Primetimer
▲From Netflix to beyond / Primetimer

 

You would be hard pressed to find someone who has not subscribed to a streaming service nowadays. Starting with Netflix in 2007, streaming services have been regarded as a blue ocean for businesspeople and investors alike due to their convenience, cost-effectiveness, and entertainment value. The notion of being able to log onto one platform and watch TV shows and movies ranging from Disney animations to Steven Spielberg in the comfort of one’s own home was something that most people had only dreamed of. During COVID-19, the prospects of streaming services only rose, as lockdown made it impossible for people to physically attend movie theaters. 
In spite of this, recently in its earnings report, Netflix reported that it lost 200,000 subscribers during the first quarter of 2022 compared with the final quarter of the previous year. This is the first time in a decade that Netflix has experienced a decrease in subscribers. But more to come — CNN recently reported that they would shut down CNN Plus on April 28th. This was shocking news, as CNN Plus was first launched on March 29th. On the other hand, Disney Plus gained more than 10 million subscribers during the first quarter of 2022, and HBO Max added an additional 3 million subscribers compared with the end of 2021. 
There is no simple explanation as to why some streaming services experienced a decrease in viewership while some experienced an increase. Netflix dominated the streaming industry barely less than five years ago, and the majority of the movies and shows they provided were popular ones that had been premiered before. However, as TV networks and mass media networks realized the potential of streaming services, each network launched their own streaming service with a choice selection of their own works. Disney animations were unavailable for streaming on Netflix with the launch of Disney Plus, and HBO shows (most famously Friends) were pulled out of US Netflix as HBO Max was introduced. Perhaps the decrease in Netflix subscribers was a consequence of people just moving to a platform that suits their viewing interests. 
Looking through the somewhat hazy future of streaming industries, one thing is certain. Streaming services are no longer a blue ocean where just the launch of a service means that company will rake in profits. They must have a certain plan that appeals to subscribers, which should ideally be more than a simple array of past box office hits. From original shows to family subscription plans, streaming services have just entered a race that is projected to continue for at least another decade. Will there be a winner of this big streaming race? And will streaming services be able to persist and grow, even when people are itching to enjoy their time outdoors after the COVID lockdowns have been eased?