While there was initial skepticism on the trend of cord cutting and sticking with streaming services, the numbers don't lie. Consumers are cutting the cord in droves, and major corporations are finally jumping in the game to compete with the heavy hitters like Netflix, Amazon, and Hulu. Apple and Disney aren't the only ones either, as many much smaller outfits have joined the world of streaming and have bloated the market. So, with the current number at 235, can we agree too many streaming services exist?
This is especially true when looking at the study of these 235 streamers from Parks Services, which show a vast majority of these streaming services are far from major competitors to ones like Netflix. The data (via Deadline) states that 90 of the 235 services (38%) have less that 50,000 subscribers and that 72 have only 20,000 subscribers. That's not a very large audience compared to the subscriber numbers of Netflix, which is around the 151 million mark and growing.
It's slim pickings for smaller services that may get even smaller when the streaming services from Disney, Apple, NBCUniversal, and WarnerMedia arrive. Right now, nearly half (46%) of all broadband connected homes have multiple streaming service subscriptions, but when these new players get involved with their big budget shows and iconic franchises, consumers may drop these smaller outfits to binge The Mandalorian (Disney+) or The Morning Show (Apple TV+). Additionally, the three-quarters of broadband connected homes that have at least one streaming service may be inclined to pick up more.
For those frustrated about the sheer amount of streaming services only increasing with these arrivals, some may take solace in the fact that these new players will inevitably thin the herd. Parks predicts that these big names jumping in will "exacerbate" the amount of closures by smaller streaming services, and may prompt others to consolidate and combine forces. It may happen sooner rather than later, as the number of streaming services finally leveled out from year to year, as opposed to the massive 140% increase in services from 2014 to 2019.
With the amount of money being spent by streaming services in securing binge-able originals and licensing deals for classic shows there will always be a solid number of streaming services in competition and vying for a piece of the cord cutting revenue. There's probably never going to be just one streaming service for everything, though it is possible we'll see more streaming packaging deals like Disney is offering with its arrival. At that point, we'll be full circle with the whole thing just feeling like cable, but on the internet.
Do you think there are too many streaming services, or are you comfortable with the current number? Vote in our poll below, and hop down to the comments and tell us about the streaming services you subscribe to that aren't Hulu, Amazon, or Netflix. Of course, be sure to stick with CinemaBlend for all the latest and greatest news on what's happening in the world of television and movies.
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Mick likes good television, but also reality television. He grew up on Star Wars, DC, Marvel, and pro wrestling and loves to discuss and dissect most of it. He’s been writing online for over a decade and never dreamed he’d be in the position he is today.
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