How Streaming Has Affected The Entertainment Industry

Streaming services have forever changed the entertainment industry.

Remember when TV shows and movies were only available at certain times and disappeared soon after? Well, Netflix changed all that. It has become one of the fastest growing entertainment providers in existence. With more than 148 million paid memberships in over 190 countries worldwide, Netflix has created a societal dependency on the always-available streaming service that allows customers to watch what they want, when they want, as many times as they want.

They have displaced power from the hands of the TV broadcast corporations into the hands of the consumers in a way that has never been done before, and the consumers want convenience, personalization, and affordability. Netflix and other streaming service giants, such Hulu and Amazon, provide what standard cable providers can’t -- unlimited access and freedom to watch your favorite shows and movies at any time.

Following Netflix’s spike in popularity, television ratings and movie attendance dropped significantly. To meet the needs of the consumers, streaming services and cable networks alike need to constantly embrace the forefront of technology. That’s why big name broadcasters have been creating their own streaming models. Broadcasters such as Nickolodean, HBO, PBS, The CW, Fox, ABC, NBC, Disney, and Showtime are all in the process of developing their own models.

The reason that streaming services such as Netflix became so popular is because their viewing platforms are unique from user to user. Streaming services let viewers choose what to watch from a large portfolio of content, and then they streamline it to cater to each specific user. When they log into their account, they have an entire profile highlighting shows they’ve watched, as well as recommendations based on these preferences. Meanwhile, cable TV is designed for the masses. Consumers prefer streaming services because it’s like having a TV channel created just for you.

So what does this mean?

With the innovation of streaming services, the movie business has moved from "the movie business" to the franchise/brand-driven business. Right now, you can pull up any of the big streaming giants, such as Netflix, Hulu or Amazon, and you can seemingly watch just about anything. But this is going to change very soon, as broadcasters like NBS, Disney, and The CW start to retract their hit shows and keep them exclusively for their own upcoming models. We’ve already seen shows like “The Office” and “Friends” get pulled from Netflix’s slate. Suddenly, we’re either going to have to subscribe to multiple services, or we’re going to have to pick and choose which ones give us the most content we prefer for our money. At the end of the day, "cutting the cord" isn't as economical as we once thought; once you add up all the monthly subscription fees for every streaming service you need to keep up to date on all the latest and greatest movies and shows, you end up paying just as much if not more than a standard cable bill. At least with cable, you had access to everything; but in the era of streaming, you either need to subscribe or you don't get any access to certain content, period. It doesn't make sense to sign up for an entire Amazon Prime subscription if you only want to watch, say, "The Man In The High Castle". But that is the ONLY way you'll be able to watch "The Man In The High Castle". Unless, of course, you borrow a friend of family's login info.... But even that is something many streamers are cracking down on.

It's hard to say where this is all going to lead -- if streamers are going to be the death of cable, or if the boom is eventually going to implode in on itself. In the meantime, i've got a new season of "Orange Is the New Black" to catch up on...