The famous video streaming company, Netflix, is consuming more than a quarter of online video viewing. YouTube is regarded as the corporation’s biggest number one competitor. Even though this competitor is number one, Netflix subscription VOD is very close to beating it soon. Both companies are the two major platforms on the internet for the VOD facility.
The following information has been achieved from IPA’s recent data. YouTube has 34% people accessing it every week while Netflix Inc. has 29%, if averaged its 51 minutes every day while YouTube gets attention for 21 minutes per day. IPA also shows the changes in data usage and support of video streaming, which is trending each day.
Due to the subscription payment feature on the growing VOD platform, the earnings are more than YouTube. Amazons prime time has only consumed 3% of the streaming services market for now.
IPA data is proof of Netflix success and growth in the media industry internationally, which makes a huge contribution towards the company’s plans of expanding services to 200 countries by the end of 2016. It has already expanded its services to Taiwan, Singapore, Hong Kong, and South Korea in hopes to capture the Asia Pacific market. Announcements of launch in Spain, Portugal, and Italy have been made.
Netflix TV shows are a huge reason of the recent generous success it has been receiving, such as Orange is the New Black, House of Cards, Unbreakable, etc. Not all of the following shows are known globally, which is the opportunity for media industry to capitalize on.
In other news reports, Netflix has aims to become the next HBO, which is a huge statement to prove. It has already gotten a good amount of fame from its TV productions series. However, the company does not actually produce the shows but licenses from outside production studios and so receives streaming rights but for a given time period. Afterwards, the studio can offer copies for home use and search elsewhere when the contract expires.
HBO produces most of their shows in-house that contribute to official rights of distribution and publishing. The online VOD organization is in search of doing the same. According to Bloomberg, the first in-house show of the company will be Chelsea Handler talk show; the wet hot American summer was also produced in-house. The company has plans to produce a comedy show as well. This will allow it to hold separate rights to the content produced, but it will not be able to get rights to other productions easily as it does now. It will soon be a competitor rather than the platform for other studios.