By: Amanda McKenzie
First comes the color TV, then comes cable, then comes streaming from sites like Netflix, Hulu, and Amazon. As the way we have watched our favorite TV shows has gone from good to great, our beloved streaming sites are beginning to fear their futures as companies like Sony and Apple start to dominate the battlefield. Recently, there have been new offerings from Sony and Apple that are beginning to change the way we will watch our favorite shows yet again. Although Hulu, Netflix and Amazon were basically first movers of this category, new and upcoming competition is forcing them to raise their prices, find new marketing techniques, and become more innovative.
As HBO has been noted to be one of Netflix’s original rivals, other television providers are getting in the ring. Since 2011 there has been a rivalry between HBO and Netflix, causing Netflix to try and get innovative by splitting up the company to raise prices, but this only resulted in a mess and a lot of cancelled subscriptions. Some people think the consumer will add more streaming companies to their households, but either way, Netflix and Hulu are trying to step up their game.
Netflix is currently the most popular home streaming site with 40 million paid subscribers in comparison to HBO’s 30 million. To stay in the game, analysts predict that Netflix, Hulu, and Amazon will have to promote their exclusive dramas and comedies more, as well as market more shows, to make their company the most popular. Netflix is also noted to be spending at least 88% more money on programming this year than the $243 million spent on it last year. I suppose the big question is will families continue to pay for the subscriptions for one of the “Big Three” or will systems like the Playstation 4 Vue be the next big thing?