Pay TV cable businesses have come up with strong strategies to revamp their businesses and dethrone online streaming giants like Netflix.
The online streaming giants that include Netflix, Amazon, and Hulu etc. have been the dominant force in the industry for several years. These companies have made astounding progress in recent times which have made them the benchmark for all streaming services and cable TV operators. However, the online streaming giants have just got to know themselves that they are not in the same league anymore. The new role that the companies will be playing in the market is “the establishment”.
Netflix, Inc. (NFLX) along with Amazon and Hulu spent years and invested heavily in order to disrupt the pay TV cable business. But the tables are now turned. The streaming movies service giants will have to defend themselves in order to survive in the market of ‘Internet Streaming’. Companies like Apple, Sony, HBO, Dish, and others have gone through the tough time where Netflix dominated them and did not let them do any business. However in recent weeks, these companies have “stormed onto the field making a splash” with their new offerings as well as bold and brave announcements in order to revive, revamp, and reinvent the pay TV cable business. Hence, this will change the perception of the way viewers pay and watch for television.
New York Times report, “Those advances have raised the stakes for Netflix, Amazon and Hulu, which not only invented the category but also induced a wave of TV fans to watch their favorite programs without paying for a cable or satellite subscription.” Due to this, the new competition has arisen and these companies have been forced into making more and more investments to produce more exclusive and original content, making new partners, acquisitions, technology innovation, and revamp their market with all this.
Netflix spokeswoman, Anne Marie Squeo said, “A lot of people will subscribe to more than one service similar to the way they do with apps on their phones or magazine subscriptions. So there’s room for multiple Internet content providers to thrive if they’re delivering great shows and movies for a reasonable price.” Netflix does not see HBO pushing its business into streaming as a competition or a threat. It believes that the move might be more of a validation for Netflix and its philosophy for offering online streaming service.
When Netflix started its business in the past, it eyed to become HBO faster than HBO could become Netflix. So far, the company has managed to achieve it. The proof of the convergence of the old and new television worlds can be explained by the rivalry that Netflix and HBO had.