The Golden Age of Streaming — the era that the Economist magazine is calling a “$650 Billion Binge” — is just starting. Shows like Breaking Bad, Game of Thrones, and Transparent have ushered in a new generation of entertainment marked by its large numbers of international viewers and acclaimed programming. In 2019, subscriptions to online (OTT) video-on-demand services around the world amounted to 1,072,000, surpassing cable by far with 613.3 million subscribers. The OTT VOD subscriptions are expected to rise to 1,129,600 in 2020.
When it began, cord cutting was easy and less expensive. Those who dropped their cable TV to go with Netflix and Hulu were few and far between. Now, the large numbers of consumers who are streaming is attracting big-name players like Disney+, Apple TV+, Comcast’s Peacock, and AT&T’s HBO Max, WarnerMedia, NBCUniversal — all challenging the predominance of Hulu, Amazon Prime, and Netflix.
More and more it’s shaping up to be a race for market share in an increasingly crowded arena. Not only are consumers finding their viewing experience more fragmented and costly, OTT streaming service operators are experiencing more security challenges.
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