Analyze the role of movie streaming apps and their surging popularity in entertainment!
One of the most amazing things about disrupted industries (case in focus here: Media and Entertainment) is that it is really difficult to recognize the change, revolutions, and innovations that it goes through.
The pace at which media changes is rapid and the magnitude is enormous. Coping up with the revolution can be both difficult as well as exciting. A normal viewer (outside observer) has to be vigilant about what’s in paparazzi. Attendance at the box-office has reached an all-time low, studio heads are scrambling and the one who is truly banking upon this opportunity are the streaming platforms that are exploding in ubiquity.
Amongst the most prevalent ones are:
- Netflix has over 100 million subscribers globally.
- Amazon Prime has been one of the most popular video-streaming services right behind Netflix and YouTube.
- Ola Play
- Apple TV App
- IMDB’s TV Channel for free video streaming
- Google Play Movies and TV
- YouTube and many more for Android and iOS.
This disruption is especially helpful for the investors, slight context can be considered essential to comprehend the scope and nature of that disruption.
- What will happen to the studio model in particular?
- What is Plan B with all the cable companies lurking around?
- Will Disney’s soon to launch streaming company succeeds?
- What do cable companies need to do for their survival?
- Where do nascent and veteran streaming services fit into the matrix?
- How much growth is expected out of Netflix and Amazon?
Why have video streaming services become popular?
Much of the success of the streaming services come because of the convenience and pricing. Easy subscriptions, pause and resume features and sharing subscriptions and logins with family and friends has led to millions of subscribers. Consumers get instant access to shows and movies at a fraction of the price that they used to spend at the movie theater. Integration of AI and Machine learning has enabled displaying customers’ favorites and shows according to their browsing and search history.
Viewers do not have to wait a week for the next series of episodes or sit through the commercials. They can now watch episodes much in the same way as books and binge upon uninterrupted experience.
Show Businesses have gradually adapted to the new era of internet-enabled TV and film. For obvious reasons someone will win big and someone will lose big. Investors can either watch the media disruption revolution unfold on the sidelines or chose to participate. This has radically redefined content platforms, customer habits, and business models. Someone innovated and was successful in capturing the market share along with customer interest.
What do customers favor?
Media Streaming is sure-shot direct link to customers. Amongst the land grab for market share and spending boom media executives who are closely associated with traditional Studio Models of production and distribution have been left floundering.
Music or movie studios are simply the middlemen that produce content for the consumers but it is the distribution channels or the media streaming partners that interface customers. Studios have to make use of theatrical releases or platforms that they don’t own to distribute content like Apple’s iTunes. To them, this is a dramatic disadvantage being in an ecosystem where there is enough competition that can go directly to the customers and collect revenue.
Alternatively, televisions are as well not suitable as a major part of their model is predicated on advertisements.
Cable TV’s might fare even worse as the amount that movie streaming apps like Netflix, or Amazon Prime charge annually is the amount a cable TV subscriber has to pay monthly. And since the trend of cutting cables and lying optical fiber across emerged with creeping internet via broadband and external drives, later dominated.
Trends to look out to build movie streaming applications
Subscription-based streamers like Netflix has this incredible advantage to directly relate customers and content. Top app development companies create such over-the-top streaming apps that have the best value and wouldn’t dare sulk the viewing experience with clunky and annoying advertisements.
While experienced streaming services like Netflix and Amazon Prime already have hundreds of millions of combined subscribers, Disney has started from Scratch; Mouse House has its own set of core audience hungry for media content and so on.
With the onset of disruption of media, a major trend that rolls out is their business models that are completely based upon subscriptions; they no more rely on advertisements and they have direct access to their customers to sell/promote their products. This way they can focus 100% on their efforts, build a library of content to be liked by customers eventually. Adding to this wave of innovation cost-effective app developers India are in process of incorporating some disruptors like artificial intelligence, machine learning, and virtual and augmented reality that sounds weird today but might become a standard tomorrow. As media streaming business shapes itself in the near future, customers might have choices, realistic suggestions adding to their convenience and a watch on information safety.