The year ahead: From growth in free ad-supported services to greater data collection and local language programming, here’s how streaming will evolve in the new year
Both awareness and use of free ad-supported streaming TV services are expected to increase in 2022, according to Whip Media data, with 49% of US adults reporting that they use a free streaming service at least on a monthly basis. We anticipate that this will increase in 2023 as fast platforms continue to expand their reach and introduce new channels and programming.
Growing focus on franchises
While streamers continue to pursue hybrid release strategies, audiences have proven this year that they will return to theaters for big IP movie releases, including “Black Panther: Wakanda Forever” and “Top Gun: Maverick.”
According to a recent Whip Media survey, 43% of respondents said “the franchise I love” is the most important factor when choosing to see a movie in a theater.
“Avatar: The Way of Water” is the next film showcasing a well-known franchise that could draw big crowds at the box office (after pulling in $1.3 billion worldwide).
Strong franchises don’t just help at the box office. As we’ve seen recently with “Top Gun: Maverick” and “Glass Onion” being the new “Knives Out” sequel, movies based on popular franchises tend to have pretty good runs when they go streaming. That streaming boon is only becoming more important, as the major streaming video on-demand services (SVODs) battle to keep you off their service — and their competitors’.
Over the next year, we will see theatrical releases increasingly shift towards larger franchise films. In fact, the first half of 2023 includes “Ant-Man and the Wasp: Quantummania,” “Guardians of the Galaxy Vol. 3,” “The Marvels,” “Shazam! to name a few of the highly anticipated movies according to Whip Media data.” Fury of the Gods, “The Super Mario Bros. Movie,” and “Fast X,” not to mention the many streaming TV series releasing in 2023 based on popular franchises.
data demand increases
The demand for data among streamers and networks will continue to grow in 2023. The market is so competitive and the cost of developing content, marketing it and retaining customers continues to rise – data is critical to understanding viewership, engagement and how TV and film content will perform.
Data curation helps inform marketing, licensing, programming, and development decisions. Ultimately, all this data is integral to attracting and retaining viewers, growing viewership and maximizing revenue. If M&E companies are cutting back on their content spending and making fewer bets, then having data to help predict which TV and movie titles will perform best, giving them the most value to succeed. Will be kept in good condition.
Sports and live events are shifting to streaming
Amazon’s deal with the NFL to stream Thursday Night Football signals that we have entered a new era when it comes to live sports. And recently there has been news and uproar about Netflix making a play for the game rights.
The Amazon deal illuminates the direction in which we are now headed. It’s not 2013 anymore – streaming is now a viable option when it comes to sports broadcasting.
remember, Apple TV+ also starts streaming MLB games Will show MLS games on Fridays this year and from next year. Additionally, YouTube TV just inked a deal to carry NFL Sunday Ticket for more than $2 billion per year—ending the package’s 28-year run on DirecTV. Other services have also joined it. Peacock, Paramount+ and Warner Bros. Discovery have all announced deals for live sports this year.
We are moving towards a more hybrid model where the league packages some games for streaming while keeping the majority of games on traditional networks. Streamers are doing just that with live events like the “Elton John Live: Farewell From Dodger Stadium” concert on Disney+. This model and the shift towards streaming of sports and live events will accelerate in 2023.
local content on the rise
International markets remain the big battleground in the streaming wars, and developing local content is key to that strategy. According to Whip Media data, over the past three years, the share of views of US content in key European regions has declined by 10%. The scene that was going on in American television series has shifted to programs from the local market, Asia (in the form of anime and K-drama), and programs from a wider mix of other countries. Regulations requiring SVODs operating in Europe to invest in local series and films will drive local productions. Platforms will continue to look beyond the US for programming to differentiate themselves and meet consumer demand.
The business of streaming continues to be dynamic and if 2022 is any indication, this year will be just as transformative.
Richard Rosenblatt is the founder, chairman and CEO of whip media, A WrapPRO partner. click here For more from Whip Media.
