The honeymoon period between streaming platforms and audiences is officially over - what can these companies do to keep the romance alive?
This article first appeared in Film Stories issue #48 in January 2024.
Price hikes. Crackdowns on password sharing. Films and programming being yanked from platforms. Promised projects being completed then deleted. Dwindling subscriber growth. Overexposure that devalues blue-chip titles. Flooding the market with sub-par fluff. Need we go on?
This past year has seen plenty of companies scrabbling for a foothold as the economic promise of a streaming nirvana failed to materialise. Share prices dropped.
Stockholders shook fists. Belts were tightened, new promises made regarding greater financial responsibility and it all felt like a far cry from the heady gold-rush days, just a couple of years back when streaming was the promised land that would yield profits in perpetuity and offer an abundance of choice for audiences, forevermore.
Here in 2024, no longer can ‘back up the money truck’ be considered as a viable strategy for competing in the next phase of the streaming wars. Companies have to now think about meaningful ways, big and small, to distinguish themselves from their competition. But how do they do that?