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Will Streaming Apps Replace Traditional TV?
Eazi-Apps Support • 29 September 2017
The days of browsing through hundreds of channels to find something to watch on TV seem to be behind us. Since the boom of the mobile app industry, media streaming services have moved to the forefront of the home entertainment market. On-demand service providers such as Netflix, Amazon Prime and Yes Movies now allow people to stream their favourite films and TV shows instantly in the palm of their hand with mobile apps.
The rapid growth in popularity of streaming apps and streaming services has even caused well-established entertainment brands and networks such as Channel 4 and BBC to embrace the online revolution and provide on-demand streaming. It would seem that classic TV services and channel surfing are being cut out and replaced by app-based entertainment. But just how popular are media streaming services and are they really the future of home entertainment? Are there app business opportunities to capitalise on?
Netflix
One of the first and most popular streaming services, Netflix helped pioneer the transition into the world of online media streaming. What was initially a PC-based service quickly took the App Store and the Play Store by storm with a mobile app that allowed users to stream TV and movies anywhere they wanted.
Since then Netflix has grown rapidly and its subscriber base has continued to increase year-on-year. The streaming service currently has 103.9 million subscribers around the world. Other popular providers such as Amazon Prime are not far behind with subscriber figures in the millions. This amounts to huge revenue figures, with Netflix bringing in $8.8 billion 2016.
The Millennial Impact
A large proportion of subscribers to internet-based media providers and streaming apps is below the age of 35, which is reflective of the technological gap between baby-boomers and millennials. Younger people who regularly use mobile devices have ditched traditional TV in favour of streaming through popular apps. That’s not to say older generations aren’t beginning to make the same transition though. The number of smart TVs and Wi-Fi streaming devices in Britain and the US has increased over recent years and more homes are beginning to use apps instead of traditional TV channels.
Live TV
There is still an argument to be made for the benefits of traditional live TV, which doesn’t seem to be disappearing completely anytime soon. A recent article from Wired explains how the medium through which users get their entertainment is irrelevant. According to the article, the average consumer is simply looking for a complete, easy-to-use system that has all their favourite entertainment in one place.
Although there are still plenty of kinks to work out and advancements to be made in the world of media streaming apps, the industry is constantly growing and there’s plenty of room for new innovations and potential providers.
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