It has been healthy and entertaining to see Cola and Pepsi pitting against each other. And who benefits from this war to prove the best? The consumer indeed!
Similarly, as we explore the world of entertainment, the days of Netflix’s monopoly are over. Many other streaming services like Hulu, Amazon Prime, and HBO Max has reprised and garnered success over the years.
In this play of power, to prove better than one another, the consumer is the one who benefits the most. Moreover, the consumer has figured out how to watch content from any part of the world, bypassing geo-restrictions.
For instance, if you are in Australia and want to watch Parks and Recreation, you can go to howtowatch.com.au and be ready to get spoilt with options.
That said, this competition between streaming services is good for users in many ways. Let’s explore, shall we?
Exclusivity of Content
After years of watching movies and series, streaming services have to up their game to keep the consumer hooked. The only way to differentiate was to create content that helped them stand out.
You see, streaming service’s bread and butter is content. The better the content — the more the consumers swarm the service. And if a service has a higher number of subscribers, that’s a win-win for the service.
So, the services started creating content that was exclusively theirs and attracted users. Netflix has an ace up its sleeve House of Cards. Soon other networks took the cue and came up with the content that became their trump card.
Amazon brings in The Marvellous Mrs. Maisel, Disney released The Mandalorian, and Hulu is locked in the subscribers with the ever-so-famous and controversial, The Handmaid’s Tale.
Also: Asian films are a new rage! Here is the list of 5 best Asian films to watch this summer at viralrang.com
Keep ’em Coming
Now that the consumer is hooked due to the release of an interesting show, what happens when the show ends. By the start of 2021, Netflix also showed concern over constant competition and losses that occurred in the first quarter.
The only way services can stay relevant all year round is by planning a calendar year and informing the viewer how they will be entertained the whole year.
Most services feature what’s coming next, and streaming services invest heavily in creating content that is released regularly.
Because of the consumer finds time to look elsewhere, they might get hooked and cancel the subscription. Hence the providers are constantly working to improve their services, better the plans, and roll out quality content after content to keep the viewer hooked.
Here is some major news for this year:
- Disney+ acquired John Elton’s Documentary for $30 Million
- Netflix locks in the deal with Japan’s Studio Ghibli
- Hulu releases content soon as it airs, unlike the competitors.
- Prime video airs NFL on Thursdays and will air MLB games for live streaming
- ESPN plus offers pay-per-view events for various leagues.
- After ending its deal with Hulu, NBC signs in with Peacock
Hook With Cross-sell
Streaming services were novel once, but now it is all the same for consumers, with many services offering the same perks. Now that made streaming services innovate and think outside the box.
To attract consumers’ attention, they collaborate with streaming services for event coverage. For instance, collaborating with a channel to provide first-hand experience during the Olympics.
When a channel anticipates demand and collaborates to provide the experience to the consumer, the cross-sell works well in favor of the streaming service. As a result, not only the old consumers are happy, but you also get many new consumers on the dock.
Different Prices for Varied Preference
Consumer these days is very self-aware. They know what they want, and there are many options to select from. For instance, many services offer plans with ads without ads with price differences.
The premium services that offer streaming services without ads may be a little expensive when you plan to get a subscription from many services. In that case, one can always opt for pay as you go or plan with ads.
But before you decide which service works for you, subscribe for a free trial. With titles and choices, you will be able to decide which plan works for you.
These services also offer deals and savings when you buy the plan for a whole year or more.
Watch Your Back
While streaming is the future, and the cord is gone, streaming services still need to watch their backs. The year Disney+ launched, it shackled the firm ground for Netflix a little. Soon HBO Max and Hulu joined the league, and now there is a tug of war.
Now brands are constantly on their toes, reinventing, creating content, and offering deals that keep the consumer dizzy.
In recent developments, Netflix collaborated with Studio Ghibli in Japan to create more family-oriented content, the winning point for Disney+.
Brands are constantly observing each other and the consumer behavior to improvise themselves. This works well for consumers as they sit back like a king and enjoy brands coming up with more quality content, offers, and cross-sells.
Take Away
When looking for a subscription service, consumers cross-check only two things — content and price!
In the competition with so many services with unique potential and following — streaming services can only stay relevant if they keep rolling out quality content.
The focus on creating the service’s original content is the reason Netflix is still the most subscribed service. But HBO Max, Hulu, and Disney+ are tagging a lot pretty fast, working on aspects that make their content and service stand out.
In the whole scenario, the only person getting the most out of it is the consumer. The competition makes it great for consumers as all services create original content and pull the customer’s attention.
Moreover, they keep it relevant with offers on special occasions, keeping the consumer feeling special. Otherwise, it takes a second to cancel the subscription and subscribe to another with ease to the cancel anytime feature.
