How Streaming Will Change in 2024
By Movieguide® Contributor
Big changes are coming to streaming in 2024.
While Netflix has seen success this year, other streaming services haven’t been as fortunate.
According to Tech Radar, “Entertainment conglomerates Disney, Warner Bros Discovery, Comcast and Paramount ‘are facing pressure to shrink or sell legacy businesses, scale back production and slash costs following billions in losses from their digital platforms.’ With the advertising market in a bit of a slump, TV revenues falling and increased costs the streaming landscape in 2024 is looking tougher than ever.”
Subscription costs have already increased across the board for streaming services, and now several services are considering bundling with and licensing their content to other streamers.
“In-house bundles like those deployed by Disney and Paramount have been proven winners. The next chapter could see frenemies joining forces in the name of simplifying the experience for consumers while also reining in costs. ‘If we don’t do it to ourselves, I think it will be done to us,’ Warner Bros. Discovery CEO David Zaslav said at a recent Wall Street conference. ‘It will be Amazon who does it, or Apple who does it, or Roku who does it. They’ve already started,'” Deadline wrote.
However, NY Breaking reports that Netflix will be the “big winner” as more content will be licensed to the platform in 2024.
“More licensed titles are sure to flow onto the platform in the coming year as rivals-turned-suppliers look for more cash injections to shore up their balance sheets and help push their streaming businesses into the black,” Variety reported.
“As for Netflix, Variety expects it will build on its experiments with live sports streaming and continue its efforts to franchise its hits like WEDNESDAY and PEAKY BLINDERS, as well as push harder on its gaming division. As the only streamer that seems to be doing well right now, Netflix has something its rivals don’t: time to figure out where it wants to go and how it’s going to get there.” NY Breaking added.
Movieguide® previously reported:
When it comes to 2024 streaming trends, it looks like it’s going to be the year of the bundle…
Disney+ and Hulu are rolling out a combo streaming platform, while AppleTV+ and Paramount+ are supposedly in talks to create a bundle deal for subscribers.
Joe Earley, Disney’s president of direct-to-consumer, spoke about the partnership with Hulu, saying the goal for the bundle “is to inspire Disney+ and Hulu standalone subscribers to upgrade to the Bundle as well, once they see everything that can be accessed.”
The Hollywood Reporter also wrote of talks between Warner Bros. Discovery CEO David Zaslav and Paramount Global’s CEO Bob Bakish and chair Shari Redstone that explored a potential deal between the studios.
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