Streaming Services

Another great meeting this week! Thank you to everyone who came, especially since we tried out Friday meetings instead of our usual Wednesday ones. For those who couldn't come, fear not! We discussed the topic of streaming services, such as Netflix, PrimeVideo, Disney+, and HBOmax.

Before streaming services became a major source of entertainment, many people watched shows on cable. Over time, consumers started watching shows on platforms that included a variety of shows where they can pick what to watch instead of following the scheduling of cable services. Now with everyone spending more time indoors because of the pandemic, easy, accessible entertainment options, especially streaming services, are especially lucrative. Thus, we explored the different types and our opinions on them.

The first service that we talked about was Netflix. Netflix originally started off selling or renting DVDs out to people. Later, they started compiling the shows up digitally. During a Blockbuster shareholder meeting, a shareholder raised concerns about Netflix's rise and suggested following Netflix and go digital. The CEO of Blockbuster refused, leading to his termination and the company's decline. This shows the need for adaptation. Amazon changed from a bookstore to a huge website selling all kinds of goods. Blockbuster wasn't able to adapt to what the market wanted, so suffered the consequences. Since Netflix was one of the first, they already built a name for themselves. Whenever you think of a streaming service, you would first think of Netflix.

Leading on from that, the topic of the movies and shows on Netflix arose. Big media companies, such as HBOmax, are buying back their movies from Netflix and putting them on their own streaming platforms instead. A lot of very popular shows on Netflix are now gone. Instead, Netflix started making their own movies and shows, a lot of them being extremely successful, with 27 Golden Globe nominations. Whenever a new film comes out on Netflix, it instantly becomes the rage because of Netflix's popularity and ability to advertise. A lot of new shows have also been based on books or reboots of popular old shows.

Disney+ follows a similar path. Before Netflix, Disney has already made their own movies and created many iconic characters. Thus, they compiled all their high-quality classic movies into one platform, trying so that it's only accessible on Disney+. Because of their already existing fanbase, parents would more likely buy the service for their kids. Also instead of searching for old books and shows to base new ones off of, they can just use their own. For example, the Marvel universe or Live Actions of classics. All this contributes back to the Disney ecosystem with their many amusement parks that help keep the magic of Disney alive. Although, it is necessary to note that Disney's been losing millions from the parks, but not enough to make them bankrupt. In addition, Disney owns Hulu and ESPN, allowing the streaming plans to bundle Disney+, Hulu, and ESPN together. The price is $12.99, less than HBOmax and Netflix's standard plan. Many of these services have raised their prices though.

The future of streaming will most likely be shared across a multitude of platforms. We discussed that there would most likely not be a monopoly over entertainment, just like during cable times. Also, with the rise of in-person watching, going to the movies has become a social function rather than to actually see what's new. Many people could spend the same or even less money waiting for a while to watch the movies.

Overall, we're so excited that so many people came to the meeting and everyone contributed! We are switching back to Wednesday at 10:15am meetings and hope to see you there. Seniors, we're glad you're back on campus. Hopefully, we'll see everyone in-person in SamPhil once again.