Summary
- Industry experts have warned audiences that ad-tier streaming and live content might not save streaming platforms.
- Free content models, like Tubi’s, are thriving in contrast to struggling paid streaming services.
- Younger generations prefer free content on platforms like YouTube, leading to uncertainty in the future of streaming.
As someone who grew up with the golden age of television and has seen the evolution of streaming platforms, I must admit that the current state of streaming is a bit disheartening. The constant price hikes, ads that can now be skipped even on premium tiers, and beloved shows getting canceled too soon are all reminders of how much things have changed behind the scenes.
As a dedicated streaming enthusiast, I can’t help but observe the price hikes on these services lately. It’s intriguing to see the evolution, moving from having ads that could once only be skipped in the agonizing era of cable TV, to now being able to skip them with higher-tier subscriptions for content you initially signed up for. However, I must admit it’s disappointing when a highly anticipated series like The Acolyte gets canceled after just one season, following intense online debates. Clearly, the behind-the-scenes dynamics significantly impact our streaming experiences.
It appears that the situation with streaming services is worse than previously assumed based on recent insights shared by a media insider, suggesting possible deep-seated challenges.
These Streaming Trends We See Won’t Work
In an article for Deadline, entertainment lawyer Ken Ziffren voiced his concerns about the evolution of television, particularly in light of the surge in new entertainment and growth within the streaming industry during 2020. Ziffren argued that streaming platforms are veering off course by prioritizing ad-tier streaming and live/unscripted content, which he believes won’t propel the industry forward sustainably. The rapid growth of these services has not been matched with commensurate financial returns for companies – a fact underscored by losses totaling $9.1 billion at Warner Bros. Discovery and $6 billion at Paramount, leading to significant job cuts.
Other streaming platforms appear to be holding their own amidst the challenges, with Netflix and Prime continuing to thrive. However, it seems that services such as Apple TV+ and Disney+ are more dependent on revenue from other sectors, like Disney’s theme parks and Apple TV under its corporate umbrella. To make matters worse, cinemas are finding it difficult to attract audiences (data sourced from Wolf Street), and the recent SAG-AFTRA strikes have led to a rise in production costs. All these factors combined have led Ziffren to express concern about the future of the industry.
Why Pay When Content Is Free?
Is the outlook for streaming services generally negative? Not so. While some aspects might seem challenging, certain models are thriving, and a platform like Tubi, for instance, is experiencing significant growth. This expansion can largely be credited to its offering of free content and original productions that don’t require large financial investments. It’s worth noting that the provision of free content was touched upon in a recent Deadline article discussing Ziffren’s speech at the Beverly Hills Bar Association, but it may be one of the least recognized factors.
Previous generations would gather around the TV after school, but nowadays, younger audiences tend to gravitate towards their tablets or smartphones to explore new content on platforms like YouTube, TikTok, and various social media networks instead. As a matter of fact, the amount of time spent on YouTube has risen significantly among all age groups (as reported by Oberlo). This trend suggests a change in the way people consume content, leading one to wonder why pay for content when you can access it for free?
Many changes may occur, making it challenging to foresee what streaming might shape up to be over the next decade. The potential growth and influence of artificial intelligence could significantly transform both the creation and consumption of ‘content.’ However, there are evident challenges that streaming services currently face, which, if not addressed, could impact the future of television as we know it today. To ensure the longevity and prosperity of this medium amidst its existing difficulties, a significant transformation may be necessary.
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2024-08-25 05:31