Once upon a time, the majority of Americans had cable services. To not feel left out around the water cooler, having the best cable package was a necessity. All television had to offer was centralized between a few cable providers and shows were not accessible on other platforms. One notorious business provided an avenue for individuals to rent movies or seasons of your favorite shows without waiting for the television broadcast. Consumers have since moved on from this model, and there is only one location remaining in this country. However, this entire industry changed once the most popular streamer enabled consumers to rent or even purchase entertainment content. This model eventually evolved into the streaming services currently available on the marketplace.
The most prominent media company in the world recently announced its entry into the streaming gauntlet. At this time, there are countless options available for consumers to choose from as people continue to cut the cable cord. As the owner of, the majority owner of the second biggest platform a new platform on the horizon, this conglomerate is positioning itself to be the main competitor in this landscape. When you travel to your closest big box store, it is highly unlikely to see someone purchasing a Blu-Ray or DVD. Physical content in the merchandise is quickly being killed off by the convenience of streaming content from any location.
Streaming v. Traditional Media
Many big names in the entertainment industry believe exclusively streamed content should not be eligible to receive awards alongside traditional media. Film producers, such as David Guilllod are observing the entertainment industry change at an alarming rate. For the first time in history, streaming services overtook box office revenues last year. Streaming dominance is a trend that seems likely to continue as more content becomes available on these platforms. Proponents of traditional media stress the importance of viewing these creations in the correct formats. There are not many experiences similar to visiting a theatre, but it seems as if many people are okay with forgoing this experience. Check out this great deep dive into the current state of the cable TV market.
Economists and financial analysts are focused on recent developments in the streaming arena. As more competitors enter the fray, the content available to consumers becomes somewhat fragmented. During the time of cable and satellite television, it is likely that you and your social circle had access to the same content. Nowadays, you may have to seek other outlets to converse about your favorite shows. With so many streaming services popping up, it can become quite costly to pay for all of this different content. Funny enough, people may end up paying the same amount as they did for cable if they wish to continue watching all available entertainment.
As technology continues to evolve, the impact these developments have on the entertainment industry cannot be understated. It will be interesting to see if movie theatres either begin to close or change altogether. Allowing people to binge-watch fan-favorite shows on the big screen is something viewers could experience moving forward.