For years, the streaming wars dominated as more customers cut the cord on cable, new streaming services popped up to challenge Netflix, and an incredible amount of original content was produced.
But the days of streaming wars are over.
Customers are overrun by so many streaming services when all they want to do is watch quality shows. Netflix subscribers have flattened in recent years, and Disney+ seems to be the clear winner. In today’s experience economy, customers want incredible content. They are looking for escapism, and the company that can provide the right balance of entertainment and value will come out on top.
So, what comes next for streaming?
Just like TV disrupted radio and streaming disrupted TV, so too will something soon disrupt streaming. The streaming wars created a saturated market that requires customers to have multiple subscriptions to watch their favorite shows. Customers don’t care what service hosts the show as long as they can watch it.
Streaming right now doesn’t create a customer-focused experience. If a customer doesn’t have access to a show you want to watch, they have to join a subscription or pay for access to watch one show. There’s an incredible opportunity for a disruptor to come in and create a loophole in the current streaming situation.
Streamers are only as good as their last show. As soon as they stop creating compelling content, they’re no longer relevant. That’s why streaming services pour so much money into original content and why companies have to get creative to entice customers, such as bundling services or partnering with other brands, like T-Mobile customers getting free Netflix accounts.
We’re witnessing the end of the streaming wars and the start of potential disruption in the streaming space. With so many competitors, the market has become ripe for innovation to create a customer-focused experience. The disruptor will likely be something we can’t imagine, but it will undoubtedly create a more customer-centric experience.
Blake Morgan is a customer experience futurist and the bestselling author of The Customer of the Future. For regular updates on customer experience, sign up for her weekly newsletter here.