Streaming has long been a part of everyday life: 75 percent of the population aged 16 and over watch movies and TV shows on Netflix, Amazon Prime Video, Disney+ and Co. But the competition is getting harder and harder.
The next day everyone was talking about the “Wetten, dass..?” Hit series today like “Bridgerton”, “Squid Game” or “The Walking Dead”.
The mobile community needs mobile offerings
TV campfire, where everyone gathers to have a say, Netflix and Co. through digital. Because streaming is ubiquitous, they have also benefited from changing technology and viewing habits.
A laptop or smartphone makes this possible. On the train, on the plane or at your desk – it doesn’t matter. Notice where you are right now.
Additionally, streaming services have brought us nice weak verbs like “netflixen” or “bingewatchen”. Because serials are usually not consumed only in parts, they are often consumed in one piece and sometimes they are looked at like drunk. Just “gebinged”.
Corona has cash registers stolen on streaming services
The flow trend has been strengthened by Corona. There was little to do, and times of crisis called for fun and distraction. The number of subscriptions has increased, the reach has skyrocketed – the world has been a paradise for streaming services.
But times are getting harder. As inflation gallops, many subscribers are wondering if they can still afford one of the many providers. According to a survey by consulting firm Simon Kucher & Partners, one in four Germans wants to give up at least one subscription. 40% of respondents find the prices too high. In addition, you now have the opportunity to choose between TV series, cinema or pub evenings.
Increased competition in streaming
Additionally, more and more streaming services are mushrooming. Especially high-flying Netflix feels it. Suddenly, many want a piece of the big cake. Well-established media groups jumped on the full-throttle streaming train. For example Apple, Disney or RTL.
Increased competition combined with customers’ need to save money is not a good prerequisite for further boom. Therefore, the gold rush gave way to a new sobriety.
Our own productions are adapted to the target audience.
Jan Büchel, broadcasting market specialist at the German Economic Institute (IW) in Cologne, sees the situation this way:
That’s why successful in-house productions are more important than ever before. According to Büchel, the target groups will be precisely targeted: “Depending on user behaviour, more in-house production based on country-specific models will be available in the future.” This means that streaming services will take a closer look at what topics are doing well in different countries and produce accordingly.
Differentiated marketplaces for Amazon, Netflix, and Disney+
In addition, according to Büchel, “individual providers will focus even more on different customer groups”. Amazon and Netflix are, so to speak, “all-around providers” for the whole family, and Disney+, for example, is mostly provider for kids and young adults. Streaming services hope to continue to be successful. “Partially overlapping differentiated markets,” says expert Büchel.
It can also be said that the internet broadcasting market, which is still young – like many markets before it – is about to grow. Will all providers survive or mergers? Everything is still uncertain.
The streaming market will continue to grow
Still, Jan Büchel is sure: “From a purely demographic perspective, there will definitely be more consumers.”
Because streaming remains a megatrend. Future generations will constantly grow up with it. So the digital campfire will definitely not go out – although some providers may burn themselves.
Klaus Weber is the business editor at ZDF.
I am Ben Stock, a highly experienced professional with over 7 years of experience in the news industry. I specialize in market section writing and have published numerous high-quality articles on various topics under my name. My passion for journalism has helped me to develop an in-depth understanding of the industry, enabling me to stay up-to-date on all the latest trends and developments.
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