Netflix and Amazon have long shared the streaming video pie from a global perspective, until Walt Disney launched its Disney+ service in November 2019. the streaming arm will reach people in more than 100 regions worldwide. But will it be enough to battle the VoD giants?
As the company’s data and Statista research show, Disney+ is likely to remain in fourth place for some time in terms of greatest reach. Although it has overtaken iQiyi in terms of subscribers thanks to continued but halted growth in 2021, the Chinese streaming service, founded in Beijing in 2010, is available almost everywhere in the world. On the other hand, the total number of VIP subscribers to Tencent’s Tencent Video and WeTV platforms exceeds the number of people subscribed to Disney’s streaming service, while the platforms are officially available in only 14 countries, mostly in Southeast Asia. According to the company, despite slowing growth, Walt Disney expects its streaming service to be available in 160 countries by 2023.
Subscription-based video-on-demand services have gone from being a trend to an economic mainstay, and many television networks and entertainment companies, such as HBO, NBC and AMC, are launching their own platforms with mixed success. According to Digital TV Research, VoD subscription revenue more than tripled between 2016 and 2020 and is expected to reach $126 billion in 2026, likely due to original programming and the continued need for consumers to diversify and pay for multiple subscriptions. to get their streaming fix.