After a lackluster Sundance in 2018, last year was full of mega-deals, especially by Netflix and Amazon. Buyers spent over $120 million acquiring rights to some 40 films.
After the abysmal start to Apple’s new streaming service, Apple TV+, the tech company is searching for relevance with a new leader and a possible strategic acquisition.
To gain a global content edge, Netflix has set into motion a EU production boom with plans to produce over 225 films and shows in Europe. Netflix currently controls 53% of the SVOD market in Europe.
Since first delivering DVDs to homes via the postal service, Netflix has come to dominate the SVOD market. The streamer has 67 million subscribers in North America, which takes its total to nearly 160 million worldwide.
The reason for this lavishly spending spree is in response to new streaming competition by the studios and the upcoming exodus of content.
After losing U.S. subscribers in the second quarter, for the first time since 2011, Netflix finally admitted that the arrival of new streaming services from Disney, Apple, and others would hurt subscriber growth.
To woo subscribers away from Netflix, Disney, AT&T, and Apple are spending big bucks to produce original series content.
Starting in 2020, films released by Lionsgate will be distributed on the Hulu streaming service, and FX, the basic-cable channel now owned by Disney after the takeover of Fox.
Recently, anonymous sources have reported to multiple news outlets about the difficulty Hollywood will face in attempting to take back its content from Netflix.
AT&T’s decision to acquire a declining DirecTV and a sputtering Time Warner is materializing into a massive miscalculation.