Since the COVID lockdown began, nearly five million UK households have signed up for a streaming service. Netflix, Amazon, and Disney+ have been the primary beneficiaries of this boom.
COVID-19 has decimated global content pipelines by halting film production, canceling greenlit projects, and closing cinemas. However, the present disruptions have only accelerated transformations that were well underway.
With most of the world in mandatory lockdown, Netflix doubled its quarterly subscriber estimates from January through March by adding 16 million new subscribers.
As the coronavirus and subsequent global shutdown forces film and television production into an unprecedented standstill, streaming services are accelerating their takeover.
As the coronavirus threatens to close movie theaters in the US and beyond, Cineworld has warned that there is “significant doubt about the group’s ability to continue as a going concern.”
The major studios sabotaged the dream of a la carte programming and are now attempting to transform streaming into cable television via an ethernet connection instead of coaxial.
AT&T released its answer to subscriber losses with an all-new set-top service called AT&T TV, not to be confused with a plethora of other options. The basic package includes 100 channels.
Several media companies are holding discussions to acquire advertising-supported video streaming services. Fox Corp is in talks with Tubi, and NBCUniversal is considering Vudu.
AVOD is gaining ground on SVOD in the United States. The proportion of television viewership that is through streaming services has almost doubled since 2018.
Streaming giant Netflix officially opened its latest non-US office in Paris last month, signaling a deeper commitment to Europe. Netflix now has four offices in Europe.
In the fourth quarter, two million US subscribers cut the cord on traditional television packages from AT&T, Comcast, Charter, and Verizon, up from 1.7 million in the third quarter.
Disney+ nearly triples its subscriber base since launching in November. Through January, the streaming service has 28.6 million subscribers, up from 10 million weeks after it debuted.
After a slow start to the 35th annual Sundance Film Festival, the weekend produced a handful of sizable deals, including from Amazon Studios, Searchlight Pictures, and Lionsgate.
Deal activity is muted so far at this year’s festival despite claims that producers and sales agents were withholding their best films at TIFF in September to introduce at Sundance.