Netflix, it’s slowly weaned its way into our homes, daily routines, social habits, and can now be considered a staple of our culture. Since its founding in 1997, the company has accrued a whopping total of 75 million subscribers worldwide and counting. But are other competitors like Hulu and Amazon Prime gaining speed? And with these three huge video streaming conglomerates at the forefront of 21st-century culture, is TV actually dying?
Hulu and Amazon Prime have business platforms that definitely highlight their uniqueness from Netflix, but as time goes on, more and more people seem to be cluing into the fact that the three share remarkable similarities. One of the most obvious is the price. With Netflix at a steady $8 per month, Hulu costing you about the same, and Amazon Prime billing you $99 yearly (which averages out to about $8.25 per month), it’s safe to conclude that they’re all pretty cheap (and a lot less than cable, but we’ll get to that later).
The selections on these platforms, however, varies more than their prices. Streaming content from CBS, ABC, Fox, NBC, Starz, BBC, Sony, and DreamWorks (just to name a few), Netflix holds a total of about 25,000 titles on file. Hulu comes in second with about 10,000 and Amazon Prime last at only 5,000. But there’s no telling how long these titles will last. Hulu is said to update their library list far more often than their competitors, operating as a viable replacement to cable. Other comparable factors between the three companies include the number of compatible devices, plans, trials, and extra features. But at the end of the day, it seems that Netflix still comes in first. Even with Amazon Prime’s inclusion of free shipping with their streaming services, they can’t compete with Netflix’s ability to stream from a wide variety of devices and DVD rental capability.
That being said, all three platforms come together to form the trend that points away from Cable. While Cable TV still holds the reigns in the industry, for now, they will definitely need to implement some changes to maintain that edge given the growth trends of online streaming. With competitive advantages such as price, wide variety in device compatibility, and original programs, these online platforms have a significant upper hand on traditional television. Especially given the value millennials place on these platforms, cable conglomerates have their work cut out for themselves.
Are you a traditionalist when it comes to your viewing preferences, or are you one of the 75 million Netflix subscribers? Let us know what you think about the feud between online streaming and cable!