How do you like to spend your screen time? Its undeniable that over the last five or so years, there’s been a great change in the way we find our entertainment media.
When did you last buy a DVD? Better yet, when did you last buy any form of media? The streaming service is upon us, and by the looks of things, it’s not going anywhere.
Streaming video on demand or SVoD is the name of the game, and it’s fast becoming the biggest game in town. Blockbuster is bust, and so are its brick and mortar competitors, why rent a single title when you could lease the entire catalogue?
You might think that a comparison between Netflix and a home-video rental chain isn’t the most relevant. But did you know that the Netflix we’re now all so familiar with, started out as just that? Even if an online alternative.
And so, 22 years on from that company’s formation, it’s become the poster child of this emerging industry. With a yearly revenue of US$20 billion in 2019, 193 million users, and a product that has reached practically every corner of the globe.
But how does Australia stack up in the world of video streaming?
As it turns out, quite well.
Pound for pound, we’re well and truly punching above our weight. In the USA approximately 22 per cent of the population has a Netflix subscription. Down under the figure is closer to three times that, at 57 per cent.
Our own home-grown alternative Stan, on the other hand, has a comparatively low appeal with just 16 per cent of Aussies engaging with their service. This puts it in closer competition with Foxtel and their attempt to penetrate the SVoD market, Foxtel GO.
Interestingly, this new wave of options didn’t completely eclipse Foxtel. On the contrary, its market share has remained virtually unchanged. Subscription levels are at the same level today as they were five years ago.
The evidence is clear to see. The Australian consumer has wholeheartedly embraced the concept of SVoD as a service. But this leaves us with a troubling question.
What will become of our public broadcast media? A quick search on google trends shows just how stark the divide in interest is between these entertainment platforms and the free-to-air alternative.
Whether they stand a chance against these new giants of industry, only time will tell.
Featured image: National Panasonic television displaying static. Will free TV go the way of analogue broadcast? THOMAS PAIZES
