It is no longer news that the Video streaming services are growing by the numbers, and unlike before, users may now have to battle with choice making when it comes to picking a favorite video streaming platform
A few years back until recently, Netflix used to be the one-stop-shop for streamable video content, however, the company has gradually lost its monopoly prowess, and in the latest will have to deal with several brands in the same space.
It is funny to realize that BIG digital/media companies like Disney and Apple are joining the video streaming trend, however, it is even funnier to know that some of this ‘big’ companies– who used to have their content streamed on Netflix– are currently withdrawing their respective license from Netflix to have sole ownership to their contents moving forward.
Netflix has been all over the internet lately, with many conspiracy theories surfacing with respect to possible occurrences that could ensue from the rise of new streaming services which could pose a major threat to the foremost streaming service that has enjoyed a monopoly market for several years.
For a moment, competition is generally considered as a positive thing for consumers– of course they only have to choose between several favorites, however, it may not be the same experience for product owners, herein referred to as streaming services, especially the like of Netflix which over the years have enjoyed a monopoly market.
Now that the streaming market is becoming increasingly fragmented by the day, consumers will now have to limit their content choices or perhaps subscribe to several services. That way, gaining subscribers will be based on good content and not just how much content is available for stream on the respective platform.
Currently, subscribers of Netflix enjoy a whole lot of third-party content, and as of now, Netflix users can still access all-time favorite movies including Friends and The Office, as well as Disney and Marvel movies. However, all of this may come to an end very soon; already, “Disney has pulled out from a lot of extensive content deal with Netflix and will gradually move its content to Disney+, while Friends will find its new streaming home at HBO Max in 2020 and The Office along with other popular shows such as Parks and Recreation will be exclusive to NBC’s upcoming streaming service Peacock from 2021 onwards.”
On that note Netflix will likely lose its monoploly-kind of status moving forward, considering that a lot of subscribers may switch ship, and that is solely dependent on the kind of content that suit each and every one. For instance, people who often subscribe to Netflix mainly because of Marvel movies may now have to subscribe to Disney to enjoy the same moving forward.
Like I initially stated, consumers will now have to choose between subscribing to a platform with limited content, or better still, subscribe to multiple streaming services rather than just one. For existing streaming services on the other hand– Netflix particularly– the situation is also highly dangerous.