\
It is a thing of the past where there were only a few
streaming services that streamed movies and TV shows. Now, the potential and
the hunger of the public for entertainment has caused the birth of many streaming
networks. Other than Netflix, services like Hulu, Amazon Prime, HBO Max,
YouTube TV, and the newcomer, Disney+ are dominating the world.
Streaming services are one of the convenient ways to watch movies
and TV shows on-demand, anytime, anywhere. They stream Hollywood movies and a
mix of other country’s movies and shows as well. However, these streaming
services such as Netflix are now heavily relying on creating their own original
content. Their emphasis on original programming can have a bad impact on traditional
media companies.
Traditional media companies must fix their data and branding
problems to compete against these gigantic digital natives. Netflix and Amazon
grew by streaming licensed movies and shows but are now investing in their own
content. That being said, Amazon is on its way spend $7 billion on video and
music content including production and licensing costs whereas Netflix is ready
to spend $8 billion.
It is high time that traditional media companies in Hollywood
do something to stand out otherwise they will be crushed within the ever-growing,
technology-dominated world. Take a look at the following infographic that includes
stats and facts determining how Hollywood can save the day in a streaming
world.
Infographic by: bain
