SVOD Platforms Will Likely See More Surge in 2021?
While 2020 was a relatively slow year for the rest, one industry that took an unexpected boom was the streaming video on demand. According to Nielsen, the SVOD industry saw a massive boom as the subscriber count grew as soon as a strict lockdown came in order. While people stored up on rations and necessary staple items, streaming subscriptions also became a staple item to get through the lockdown.
And as 2020 was a significant achievement, despite the losses and a nearly crumbled economy, we managed to get through and make it to next year, 2021. And while the hopes for 2021 are high, chances for their SVOD growth to remain the same are a little foggy.
If we talk about Netflix, it was one of the most successful services to bag millions of subscribers this year and reach a massive number of nearly 200 million. But with a successful year, Netflix also announced an increase in their monthly price tag, which can cause the growth to slow down.
This is a factor because recently this year, responsible for the streaming wars, relatively 3 new services made an appearance; Disney+, HBO Max, and Peacock TV. Out of which 2 of these services are super affordable, one of them is entirely family-friendly, increasing its stakes more than ever. And the statistics of this year stated a similar story.
All these services gained millions of subscribers, but now is the part where they have to maintain them for the rest of the coming year. Disney+ is all set to release numerous new original shows on their streaming platform, as the company suffers from great losses after the closure of the Disney theme parks until after Q1 2021. For Disney+, the projected goal till 2024 is to gain 230 million subscribers; the service currently has 80+ million subscribers on their platform, 100+ if we consider Hulu and ESPN+ subs.
As for HBO Max, the service made a great impression with numerous original content from HBO and titles from Warner Media like Christopher Nolan Trilogy of Batman. And let’s not forget the critically acclaimed and the most hyped TV show of all time, Game of Thrones, which is also a part of the HBO Max catalog. And to facilitate old users, all HBO subscribers can access HBO Max using the same credentials.
Topping it off is Warner Media’s new deal regarding their 2021 releases, which will simultaneously take place in theaters and on the HBO Max streaming service. This includes some of the most anticipated movies like The Wonder Woman 1984, Dune, and Matrix 4. Since Covid is still intact, and a vaccine is in position, it may save Warner Media from facing any further delays in a theatrical release.
Even if the world goes into another lockdown, HBO Max will have plenty of content along with Disney+ to cater to its audience. And if users from abroad are deprived of these services due to geo-restrictions, since they are available in selected regions only, sites like screenbinge.com provide the ultimate fix on all mediums.
Netflix may have been prepared with all the content for 2020, as most of their productions were sorted in 2019, but 2021 will be a challenge as the production houses struggle to maintain a smooth and safe environment for the cast and crew with the proper SOPs to prevent Covid. This means little content as compared to the previous year. And that alone is enough to smooth out the curve of 2020.
All these streaming services did perform exceptionally well. Still, things will not remain the same for 2021, you can only stream so much, and as for the coming year, people will definitely look for a new healthier activity in a lockdown. But as of now, the streaming war is officially cooled down, and so is the subscriber surge.
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