The Future of Video Streaming

Watch the video above from CNBC (2019)

Higher Number of Quality Content

There is truly no doubt that in present times, video streaming technology has gained plenty of traction causing a disruption to the existing methods of accessing and viewing films due to the convenience that comes along with availing a subscription. Subscribers of any service instantly gain access to thousands of films and programs to choose from; all from the convenience of their televisions, computers, or mobile devices at any place or any time they wish. Recent figures show that the number of streaming site users are growing at a steady rate and it is evident that this will continue in the years to come (Neele, 2020). Steadily growing income figures also assure existing and prospective subscribers that plenty more quality content can and will be made available by their chosen service, in the near and distant futures.

Due to the popularity of direct to streaming films and original content in the past years and in the present, streaming services have also proven that they are able to keep up to par with the quality of those films that were made for theatrical release. With this, we may expect a surge in the production and release of higher budget original content by the streaming service companies that are most subscribed to by the majority of consumers.

One also cannot rule out the possibility of having future major films by the industry’s top production companies directly being released on streaming services as a default subscription benefit or as additional content using the pay per view or add-on system. Major production companies such as Walt Disney Pictures are already showcasing the latter concept in the present with the release of their film, Mulan. The company charged an additional one-time fee on top of the monthly subscription charges for eager users to be able to watch the anticipated film in advance (Cohen, 2020). Perhaps, other services would also follow suit in the near future seeing as newcomers in the streaming industry are owned by already established companies.

Increase in Subscriptions

With a wide variety of available services to choose from, prospective clients may be able find the one that they think will suit them best. There will also be an inevitable growth in the number of users for video streaming as it is already a highly accessible piece of technology. People who wish to avail of these services only need an internet connection and any gadgets such as smartphones, smart television sets, and personal computers. In fact, video streaming services are already commonly bundled with private telecommunication companies and internet service providers; with some streaming service companies going the extra mile of making sure the rates they offer can appeal to consumers of various price points.

Although video streaming technology will probably not make other methods such as cinemas and broadcast television fully obsolete due to them having their own demographic, it certainly will overpower remaining physical movie renting methods some time from now. With major companies opting to use this technology for releasing their content, we can truly be assured that video streaming services will keep being a staple part of our viewing experience in the years to come.

Sources

1. Cohen, S. (2020, October 3). Disney Plus Premier Access lets subscribers pay an extra fee to watch ‘Mulan’ before its wide release — here’s how much it costs and how it works. Insider Inc.
2. Deloitte. (2018, September 18). Future scenarios for the TV and video industry by 2030. Deloitte Touche Tohmatsu Limited.
3. Ide, W. (2020, July 12). The future of film: can cinema survive Covid-19? Guardian News & Media Limited.
4. Neele, J. (2020, July 23). Streaming is the future of media. Robeco.
5. Ruether, T. (2020, April 1). The Future of Streaming: 2020 and Beyond. Wowza Media Systems, LLC.