Streaming content has gained so much popularity over the last several years that the competition between streaming providers has increased drastically. With several streaming platforms taking power over all the big names in film and television, platforms are being forced to create and distribute their own original content which is costing a lot of money. It is opening scope for businesses to tap into the streaming subscription format, however, which is proving to be profitable above the advert-centric marketing techniques. Looking into the future, it seems as though there is going to continue to be growth in the production of original content on a lot of streaming services, however, the costs associated with this are pushing subscription prices up.
Rise in streaming
Over the last several years, there has been a massive shift in the way content is being consumed. People are moving away from the traditional way of watching live tv and opting instead to turn to stream their content. With so many streaming services on the rise now, such as Netflix, Hulu, Disney+, Amazon Prime and Apple TV+ to name just a few of the biggest players, it is no wonder the competition is getting fierce.
Services like Netflix
Now that more big names have started popping up in the streaming world and taking over the rights to content, there are a lot of services, like Netflix, that have faced the removal of popular tv shows and movies. This has left them with only one option: to create their own content. Netflix is taking the forefront with this and created several successful Netflix-original titles such as Bridgerton, Squid Game and Stranger Things which have earned critical acclaim. Other platforms are following suit, with Amazon Prime releasing Amazon Originals such as Good Omens and Fleabag and Disney+ sticking with their classic franchises and releasing the Mandalorian and the recent Obi-Wan Kenobi show.
It looks like the future for television and video content will stay in this streaming business model, however, it doesn’t come cheap. The costs of producing and releasing exclusive content are driving up subscription prices to each of these sites, meaning that the content is becoming more expensive for users to consume. With the average American subscribing to 3.4 services each, and spending roughly $8.53 on each one, this quickly adds up.
Streaming Your Own Content
If you are a business looking to integrate video content into your website or even set up your own streaming services to share informational and educational videos relating to your business, you’ll need to follow a similar model. It is important to create your own content for the best results possible, then integrate it with your site using over the top streaming. After you have published your content, you will need to put together an effective marketing campaign to target your audience and make sure your content is reaching everyone you’re hoping. Another consideration to make is how you will fund this streaming content. Are you going to include adverts in a similar business model to YouTube’s, or are you going to follow the lead of streaming giants and offer customers a subscription service?
What is the Future of Streaming Content?
Streaming content seems to be safe as of now, however, the power appears to be shifting from big players like Netflix and Amazon Prime over to the services holding the big names in television such as Disney+ and HBO Max. There is still a lot of scope for small-scale streaming services and content-forward streaming on the business side of things though.