To gain a global content edge, Netflix has set into motion a EU production boom with plans to produce over 225 films and shows in Europe. Netflix currently controls 53% of the SVOD market in Europe.
British film exhibitor Cineworld is now the largest theater chain in North America after buying out Canada’s Cineplex for $2.1 billion, which was a whopping 42% premium.
Since first delivering DVDs to homes via the postal service, Netflix has come to dominate the SVOD market. The streamer has 67 million subscribers in North America, which takes its total to nearly 160 million worldwide.
Against the backdrop of new streaming competition, Netflix is significantly increasing the amount it invests in producing, licensing, and acquiring films and shows.
Amazon Studios has relied on traditional distribution practices to foster greater collaboration with gatekeepers in Hollywood. However, after playing second fiddle to Netflix for the better part of a decade, Amazon is changing its theatrical strategy stateside.
After years of declining production activity for Made-For-TV movies, Netflix is accelerating the rate it licenses and produces lower-budgeted movies for its streaming platform.
Heavyweights Disney and Apple are offering free introductory offers to gain a head start over rivals. Select Verizon subscribers in the United States will get free access to Disney+ for a year.
AT&T’s WarnerMedia released details about its forthcoming streaming service HBO Max, which will officially launch in May 2020. The service will cost $14.99 a month, the same cost as HBO’s flagship service.
As multiple streaming services prepare for an intensifying battle over European subscribers, British-made content continues to surge. This content bonanza and bidding wars between buyers are driving up prices for shows.
Never known for adapting to changing markets, European companies are now forced to forge alliances in hopes of staying relevant after the well-timed onslaught of Netflix in Europe.
Netflix missed its quarterly subscriber forecast for the second consecutive quarter in a row. The company’s slowdown ahead of the introduction of several new subscription services is a troubling sign.
After a decade of primarily focusing on episodic content, Netflix wants to break the theatrical glass ceiling, especially since they are funding more original films.