Is Netflix Still the Top Lead in Global OTT Market?
photo source: 91 mobiles
The global online video service (OTT) market, known to be dominated by Netflix, is being gradually shaken. Netflix is still "on its way," but the opponents are moving quicker and more actively. As Netflix has increased its competitiveness with "original content," competitors are taking over super-large content producers. The fact that competitors take over the content production company means that the production company's work will be difficult to see on Netflix in the future.
OTT platforms, Joining Forces
Competition in the global OTT market is expected to intensify as Amazon Prime and HBO Max (Warner Media) challenge Netflix's stronghold in addition to Disney Plus. Amazon, a leading e-commerce corporation in the United States, also revealed on the 26th (local time) that it will acquire MGM, a Hollywood film studio.
Amazon will be able to get content with a substantial competitive advantage as a result of this acquisition. MGM, a film studio founded in 1924, owns the rights to a number of well-known films, including the "007" series, "Rocky," and "Mad Max." Amazon stated, "We expect that this acquisition will improve our Amazon studios, film, and television industries."
"Warner Media," a content subsidiary of AT&T, the United State’s largest telecommunications firm, and cable TV channel operator "Discovery" decided to merge their respective media content assets.
The newly founded organization also intends to provide integrated news and sports. Discovery CEO David Jaslav, who will manage the merged firm, stated, "I'm ecstatic to bring together such famous franchises, world-class media, and historical brands under one roof. Being together will be more valuable."
photo source: Legal Desire
The OTT market's "joint alliance" is likely to continue further, and it could be a pressure on Netflix as Netflix’s subscriber growth is already slowing down. Some say that the market expects Netflix to outperform everybody else significantly, claiming unrealistic expectation from Netflix. We will have to wait and see if Netflix is really falling, or if the market is expecting from Netflix too much.