Content from the Couch
“What are you doing tonight?”
“Binge-watching Netflix.”
Today on-demand entertainment is so popular that we’ve created new phrases to describe our media addiction. “Binge-watching Netflix,” “Netflix and chill,” and “Netflix marathons” are commonplace terms among millennials — and, increasingly, among other generations too.
In 2017, Netflix boasted 104 million paid subscribers globally — spanning 190 countries and supporting 24 different languages. (1) Just 2 years ago, Amazon Prime rose to the market, and in 2017, spent at least $4.5 billion creating original content to compete with Netflix. (2) Close behind, Hulu spent $2.5 billion creating at least 7 new original series for its viewers. (3) And, perhaps most telling, Disney recently announced that they’re canceling a licensing deal with Netflix to enter the global video on-demand market in 2019.
The On-Demand Entertainment Market is Booming
Advertisers are Jumping in on the Trend
The Challenges Ahead for the Industry in 2019
References:
1 “Audiovisual Translation Hits a Sweet Spot as Subscription Video On-Demand Skyrockets.” Slator. Eden Estospace. November 23, 2017.
2 “Amazon will spend about $4.5 BILLION on its fight against Netflix this year, according to JPMorgan.” Business Insider. Nathan McAlone. April 7, 2017.
3 “Hulu to spend $2.5 billion on content in 2017, add 7 more original series.” Techcrunch. Sara Perez. September 15, 2017.
4 “Google videos vs. YouTube: Which is the best video search engine?” Search Engine Watch. Amanda DiSilvestro. October 31, 2017.
5 “Talent Crunch Hits Media Localization as Amazon, Netflix Accelerate Market Growth.” Slator. Eden Estopace. July 17, 2017.
6 “Netflix Has Nearly 20 Official Localization Vendors as Global Subscriptions Boom.” Slator. Eden Estopace. October 17, 2017.