It’s been a tough year for streaming. Amid a financial crisis, many people have decided to cut back on outgoing bills and cancelled their subscriptions in a bid to save money. This trend has hit all streaming services and proved worrying for Netflix.
The streaming giant was forced to move early and attempt to recoup losses. In order to do so, they introduced a new ad-supported service which they had avoided for years. Furthermore, they are also starting to crackdown on password sharing.
This was enough for Netflix to retain the top spot; however, the future remains very volatile. Wall Street adaptations in response to the financial crisis have resulted in an increasingly tricky market for direct-to-consumer business and standings are likely to fluctuate.
In essence, however, it was content that claimed the crown for Netflix. Stranger Things 4 was by far and away the most successful TV series of the year and newcomers like Inventing Anna and Dahmer: Monster proved promising additions.
Now, Wednesday is also doing the business for the streaming giant. Tim Burton’s new show has racked up a massive 1.2 billion viewing hours in its first 20 days. In short, Netflix still has the vast viral capacity that some other streamers struggle to tap into.
Nevertheless, these shows are also very expensive to produce, but at least with original content that is levied by retaining the gains. So, Netflix still eclipses its rivals by almost double in international standings, but Disney+ is firmly on the rise.