Competition heats up as participants battle for streaming supremacy: Who will ultimately claim the throne?
In the ever-evolving media and entertainment sector, video-on-demand streaming platforms like Netflix have established themselves as major players. A recent report by Tech & Data Specialist, Micaella Feldstein, delves into the strategies these platforms have adopted to thrive in a competitive landscape.
The report highlights the impact of the health crisis on user entertainment habits, permanently transforming the way people consume content. In response, streaming platforms have diversified their libraries, produced original content, and purchased broadcasting rights for sports events.
Notably, streaming platforms in Western markets, such as TikTok, Instagram (Meta), and Kick, have set themselves apart by adopting social media-inspired strategies. These include a focus on short, engaging, user-generated content, strong community interaction, and influencer partnerships. They generate additional revenue through targeted advertising, subscriptions, data-driven personalized content delivery, and in some cases, integrating features like tokenization of creative assets and live commerce.
However, the report does not discuss the costs associated with improving user experience, developing or acquiring technology, or marketing expenses. It also does not mention the development of high-speed internet, the increase in connected devices, or the transformation of user entertainment habits due to the health crisis.
The market for streaming platforms is showing signs of saturation, particularly in the West. To combat this, service differentiation has become crucial. Streaming platforms are achieving this by expanding content offerings and improving user experiences. Generating additional revenue has become necessary due to heavy investments. As a result, many streaming platforms have rethought their business models, adopting hybrid models that combine subscription services with advertising.
The competitive landscape is not only with other SVOD platforms but also with linear television channels, video games, and social media. Streaming platforms face challenges such as data protection, combating piracy, safeguarding sensitive audiences, financing national productions for cultural diversity, and ensuring responsible AI use.
The report by Micaella Feldstein reveals which players are standing out in the streaming platform market. Despite the challenges, the future of streaming platforms remains promising as they continue to innovate and adapt to the ever-changing media landscape.
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