- Index hide1 Netflix is today one of the leading brands in the entertainment market and a benchmark for the market’s ability to interact with consumers.2 The value of the platform has grown in recent years, due to the demand for streaming, leading to fierce competition.3 The threat that competition already poses to Netflix would rethink the operations and decisions of the platform before the competition.
Netflix is today one of the leading brands in the entertainment market and a benchmark for the market’s ability to interact with consumers.
The value of the platform has grown in recent years, due to the demand for streaming, leading to fierce competition.
The threat that competition already poses to Netflix would rethink the operations and decisions of the platform before the competition.
Netflix finally it weakens and only one statement in its letter to shareholders has been enough to accept that the competition is having an impact on its subscriber base, which is key in the production of original stories and maintenance of its international expansion.
The platform has shared in its letter to shareholders that the competition that has been added to streaming could be affecting the marginal growth that it has been registering.
Accepting that the competition is affecting its growth ends the leadership that the platform maintained for years, which gave it the confidence to say that it did not have real competitors in its content area and that it was more concerned about platforms like sleep! or TikTok.
the daring competition
Although Netflix for years did not worry about the competition that emerged in streaming, an industry that it leads, one fact is important to recognize and it is the scope that this platform has had in being able to communicate with the consumer.
In order to achieve this communication, platforms such as Disney+ or HBO Max are betting on radical formulas that are triggering their growth in the market, for which an important configuration of supply and actions is coming in the industry, to conquer audiences, who demand titles popular and original productions that really capture their interest at the time of loyalty.
Streaming, a new form of entertainment
Streaming is without a doubt a new form of entertainment and a commitment that we cannot lose sight of, because it has established itself as a platform with a unique content offer, both because of the original vein that many of these have, and because of the digital accessibility with which they have been distributed on the market.
The streaming audience has become an important gold mine, which is why big brands do everything to strengthen their platforms and keep the big slice of the cake, one that Netflix baked and that is now concerned about the number of options out there. , because it has undermined their growth in subscribers.
Content in new formats
The new content formats have given rise to very important measures, which serve to understand what is useful in the market and what is feasible to discard. Under this measure, one element is key and it is the ability of brands to generate impact commercial proposals and not only that, to retain audiences.
Given this exercise, it is important to see the elements that are essential to understand, especially in a market that has been consolidated by the popularity of content and, most importantly, the audacity with which many of these have been able to define key trends.
Digital interaction, key to audiences
The potential of streaming has made the digital medium a very rich channel due to the amount of data it generates and the opportunity it gives businesses to adapt to consumer preferences, in this case, turned into audiences.
The proposal that has been consolidated in streaming has been definitive, above all because it has allowed a key element in the market, such as the identification of trends that serve to create original stories, a commercial proposal that was added to the series, movies and documentaries, which are traditionally consumed on TV and cinema.