By the end of 2020, there will be more streaming accounts, 1.1 billion, throughout the world than there are traditional pay-TV accounts, according to data and analytics company Globaldata.
The rise of cord-cutting has been well reported, but according to GlobalData’s latest study, “Thematic Research: Internet TV,” it is not simply cost savings that are driving the move toward streaming, but also the flexibility and the range of content available through the different services.
This is supported by the move of large media firms establishing their own streaming services, like Disney Plus, Peacock, HBO Max and Apple TV Plus.
Netflix still leads the pack, according to GlobalData, but the other services are attempting to compete not only by adding to their content library, but by also improving upon their user interface.
‘‘Internet TV will be the single most important technology driving earnings in the film and TV industry over the next two years," said Danyaal Rashid, a GlobalData analyst, in a statement. "There has been a rise in the number of users cutting the cord on their traditional pay TV subscriptions and opting instead for a range of subscription video on demand (SVOD) services. This has not only been driven by the cost benefits of switching to cheaper SVOD platforms, but also the flexibility and range of content offered by these providers.’’
This story was originally published by Next TV sibling publication TV Technology.
