Streaming services are changing the way people create movies
HOLLYWOOD, CA – Gone are the days where you needed to make a trip to Blockbuster on a Friday night to be able to watch the newest VHS or DVD. Now consumers can automatically access all the latest releases and new episodes of their favorite tv shows and movies directly from their couch without having to leave the house.
Reachers predict that the streaming industry is expected to be worth over $30.6 billion by 2022.
In 2007 Netflix started mailing DVDs directly to consumers’ doorsteps. Over time, with advancements in technology and upgrades to wifi networks, companies like Netflix were able to take their mailer service and develop an app for instant streaming on any device.
This technology has revolutionized the industry and has taken over how individuals consume media.
Streaming vs. Cable
While one is not better than the other, both have served the entertainment industry over the past few decades. Major broadcast companies are now moving towards streaming and updating new technologies to keep up with the demand for streaming.
An earlier study by PricewaterhouseCoopers noted that streaming revenue would exceed box office revenue by 2017 and would make streaming services the most significant contributor to the entertainment industry.
Naturally, with the rise in streaming services, other major entertainment entities start to see a drop in sales. DVD rentals and sales have continued to drop over the last five years, and families have begun to cut cable for streaming services.
But what does this all mean for the future of the entertainment industry? The innovation of streaming services has said that those platforms, Netflix, Amazon, Hulu, Disney +, are moving into the movie business and producing their series, movies, and documentaries.
At the same time, with everyone joining the craze, households are having to subscribe to multiple platforms to be able to watch all of their favorite shows and movies.
It’s hard to guess where all of this is going to lead. It’s possible that streaming could be the death of the cable industry, but some individuals still do not have a subscription to a single streaming service.
The future of streaming is one that the industry will have to keep an eye on!