The video on demand ‘war’ has shifted to a battle for attention in a ‘more complex marketplace’ with the multiple apps that the consumer already has at their disposal. To shine during this race, Netflix, Hulu, Disney Plus, Max and Prime have set dishes for its consumers. By concentrating on three main factors, three evolutions to branding retention, they wish to stay on top of the competition: bundles and partnerships, live programming, and individualized experiences as well as interactive engaging features.
AI is behind a new dawn in the way streaming services are dealing with the viewers. Remember when we were given recommendations towards backend AI? Well now, consumers get to enjoy enhanced streaming experience due to the transformation of these algorithms into customer facing tools that are powered by AI.
It’s like Alibaba recommending products, giving customized suggestions based on what you previously bought or inquired. Companies like Tubi are employing AI powered Rabbit AI in an engaging chatbot form, that synthesizes this ‘consumer facing algorithm.’ During the Paris Olympics, Prime Video’s X Ray feature introduced x-ray which gave voters a detailed summary of the current standing and answer questions using a voice generator version of ex sportals announcer AI Micheal.
While recommendations have their own importance, interactivity has become an area of concern for both Netflix and other competitors. While gaming options are still being beta tested, Netflix’s “Moments” functionality allows users to bookmark and share the most liked parts of a show. Prime Video incorporates sports with statistical updates, whereas Hulu and Peacock have added in in-app purchases which let the user buy some theme-party merch with a push of a button. All of these developments herald a time when streams will not be a one-sided action but a two-way sustained interaction dedicated to the user.
The Power of Bundles and Strategic Partnerships
As the price of these over-the-top subscriptions rises on a quarterly basis, bundling becomes favorable for both the consumers and providers. Seeing the trend for 2024, when packages such as Disney Plus, Hulu and ESPN plus, or a bundle that features Netflix, Peacock and Apple TV Plus by Comcast were able to gain traction. These also reduce the cost per subscriber per service and keep them loyal to a single umbrella.
Partnerships between competitors have also become rather routine. Prime video has added the apple TV app on its platform, which enables prime customers to enjoy apple tv shows without changing the interface. There have been bundles of Spotify and Amazon Music enabling music streaming and audiobooks combined in one.
Bundling is seen by platforms as a method of both enhancing there pricing strategy as well as allowing the user experience to be much simpler, combined with a higher retention rate of the subscriber. More services will also diversify even further and giant up with other businesses with the goal to maximize customer loyalty in 2025.
Surge In Active TV Shows
The trend towards live audience shows is perhaps the biggest development along the streaming timeline. During the summer olympics or NFL games people have embraced Prime video and Peacock, and now we have access to these sports platforms. Extensive investment on shows such as awards shows, WWE wrestling, and comedy specials have also been made by netflix in their attempts to seize the active programing market.
Such content actively encourages one to watch without any delay as they are able to watch live action unfold in front of them but such a market is present with many other complications such as the infrastructure required for such action. The technical outages that rented streaming platforms during the live broad cast of the Jake Paul vs Mike Tyson fight should be reduced before these issues can be completely over come, these settings are needed for large scale operations.
Attractive quality video content is crucial for strengthening a programming segment in streaming services, as global WFE matches are getting increasingly appealing to average users. Just like with other types of content, I’m sure that accuracy and consistency will be the greatest victory for this distribution channel in the future. As an example, it is worth taking a look at WWE, which recently stated that their intention is to expand their international reach and attract a wider audience.
Gears Are Set For A Positive Change In The Streaming Industry
China is also likely going to become a key market for player growth. In football and basketball, streaming is popular in parts of Asia, the market is perceived as promising and gradually being developed. Whatmore, the new markets will help to merge the gaming and advertising industries which are heretofore fragmented sectors without any clear dynamic driving connection between them. The experts anticipate this shift will take roughly until 2025. When consumers become fully aware of the opportunities it will be radical for the global streaming market within just a few years.
