That’s a significant transformation in the history of TV consumption
According to GlobalData, the number of TV streaming accounts will reach 1.1 billion in 2020, surpassing traditional pay TV accounts for the first time.
The report revealed that the shift towards SVOD has been accompanied by a race among large media firms.
In 2019, leading companies introduced their SVOD platforms, including Comcast (Peacock), AT&T (HBO Max), and Disney (Disney+) These providers are aiming to knock Netflix off its perch.
It has also been stated that the increased competition in this field has caused a content war. Nevertheless, content alone won’t be enough to dominate the market. GlobalData suggests each platform should have an intuitive user interface that is aided by AI.
We’ve reported that Netflix has overcome the COVID-19 outbreak better compared to Disney. For instance, Netflix’s market capitalization as of 21 April, was $190.4 billion, compared to $142 billion in December 2019.