Competition Between Streaming Services Are Getting Tough!
Do you know how we got to streaming services? Well let me tell you. It all started with Blockbuster opening in October 19, 1985 in Dallas, Texas. It then grew all around to becoming one of the top rentals for video games and home movies that later became another way to create DVD-by-mail, streaming, and more. In 2014, almost all the Blockbuster locations (300 of them!) in the United States were shut down. Netflix ended up outcompeting Blockbuster which led to them in huge debt that they could not regain. Blockbuster could just not compete with their competition where Netflix took streaming services into a new foot. Now, there is only ONE more Blockbuster in Bend, Oregon where it is hoped to be there for a long time.
Now that DVDs are not rarely used due to streaming services, Casa Video in Tucson, AZ is actually doing pretty well considering the competitiveness with streaming. From physical discs to streaming services, it is crazy to see how that changed and the competition that goes along with it. Although DVDs are not as popular, they are not as dead as you might think. In an Insider article, it explained how DVDs also known as physical discs are still successful. And that collectors like Best Buy, Amazon, Ebay, etc are collecting “hundreds — and in some cases thousands — of physical movie copies to supplements their streaming subscriptions” (Canales). This leads to actually BETTER movie quality and experience as well as lower costs that streaming services don’t have. Not only streaming services are competing with their other streaming rivals but are battling with companies like Casa Video and Best Buy.
All of these streaming services and video companies are trying to use their own content strategies to try to outcompete their competitors. This means maybe having something unique and totally different that the other streaming services may not have that makes that specific streaming service better. For example, having originals shows or movies as well as exclusivity that stands out from the rest.
This is an important topic because it shows us how difficult to try to gain and keep your audience with other competitors out there. Another thing is that we are the ones that inform a company what is working or not based on the views. And what we decide to buy. In addition, what the streaming service may need to do better or change to become either even better or rise to the top. This can even help them to create new and fresh content that audiences will love. So although a bit of it may be about us, the majority is really about money at the end of the day and being the top streaming service in entertainment.
The questions that I’d like to explore are:
- How did physical discs change to streaming services and into competition?
- How does the attention economy work between streaming services? And possibly companies like Casa Video?
- Why is the content game important, happening and what are streaming services doing to better their content?
- What makes Hulu, Netflix, HboMax, Apple Tv, etc different from each other?
In my research, I have found that the well-known streaming services that you may be using to watch your favorite shows is specifically at that particular streaming service. For example, you may notice that Euphoria is only at HboMax, Netflix has Original shows like Stranger Things and Bridgerton as for Hulu with their own Original shows like Pam & Tommy, The Dropout, and The Handmaid’s Tale. Even Apple Tv with Ted Lasso and King Richard. By doing this, this attracts viewers because in a Harvard Business Review article said that by “offering original content can be one important way that streaming services can differentiate their offerings from competitors” (Prince & Greenstein). This is why you can only see certain shows that you may want to see or love in a specific streaming service and is another reason why then we end up subscribing to that service.
Video streaming sites have become very popular because it allows anyone to watch their shows and movies at home or anytime on their laptop, phone or any other device. Companies like Casa Video where they have movies and music discs hold their own rights. This can be both a good and bad thing because they have their own fees but if they decide to sell or dispute to a streaming service like Amazon Video then can get complicated when it comes to negotiations. It can lead to upping the price costs for the streaming services and provide a stumbling block for newcomers to the market of video streaming services. Amazon Video is known to have free tv/movies but also make their income by renting or buying their tv/movies. Very similar to video rental stores but Amazon Video is better because no one has to leave their homes to pick up a rental movie/show. It is all on their tv, phone, or tablet without really lifting a finger. As opposed to Netflix, Hulu or other streaming sites where their content comes with having to have a subscription. Even though Amazon does have a subscription as well, Amazon Video allows another way to give their customers a free choice to choosing.
I know! There is so much to know and understand about the content game between streaming services and video stores that we probably don’t even think about because we are just the viewers. As I continue to research and find things on this topic, I am curious to also try to find out more on what things are working for streaming services.
In addition, I am wondering why streaming services like Disney+ decided to bundle up with Hulu. In general, why do some bundle up with each other if they are competing against each other? Is it because they need to to stay popular? These are some of my other thoughts that I would love to find and add to my presentation/essay.
Do you think that video stores like Casa Video will ever close down due to the popularity and conveniency that streaming services have? And which streaming services do you think will stay and/or will leave in the future? Why/Why not?
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