It seemed like a new streaming service debuted every month at one point. Every media firm needed to have its own service, and it looks like that has finally materialized. In 2022, no new services were introduced. It’s hard to imagine, but in 2022 there won’t be any new streaming services introduced for the first time in ten years. No service with fewer than one million customers has ever been created, and we’re not just talking about the big streaming services. What took place?
What Led Us Here
Netflix, which introduced its streaming service in January 2007, is primarily to blame for the rise in popularity of these services. Around this period, streaming services were also introduced by Hulu and Amazon. For a time, the two services you would primarily utilise to locate content to watch were Netflix and Hulu. With one of the two services, most of the major media corporations had agreements, and the situation was favourable. Then there was a boom (via GammaWire).
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2013: Acorn TV, SonyLIV, and Claro Video
2014: Stan, iflix, CBS All Access, and Crave
2015: Globoplay, Neon, Sling, FuboTV, Showtime, YouTube Premium, Curiosity Stream,
ALTBalaji and BritBox in 2017
2018: Royal Bioscope, ESPN+, ZEE5, and Kayo Sports
Disney+, Apple TV+, and BET+ in 2019
Max, Peacock, Smash, Aha in 2020 on HBO
Discovery+ and Paramount+ in 2021
The boom was caused by a few different factors. Media businesses understood they didn’t need to put their material on Netflix and instead could create their own streaming service. Alternatives to cable TV that stream have also begun to appear. But it appears that the well has run dry.
What happened to the streaming services?
People frequently gripe about how many streaming options are available today. It seems that we may have already passed the peak in streaming. All businesses who wished to offer a streaming service have done so. Large corporations are already acquiring rival providers or merging their brands into a single cable package offering.
Nowadays, selecting a streaming service is similar to selecting a group of TV networks. It might, however, be worse than cable TV. You must get Discovery+ and Paramount+ if you want Comedy Central and Discovery Channel, respectively.
If the peak for streaming services has indeed been reached, the following several years will see a decline. Once again, cable TV appears to be the superior choice, which may have been the media firms’ original goal.