Today people are getting more and more used to watching Netflix on TV or mobile devices, they have abandoned the traditional way of watching shows. However, these stream media companies are not just satisfied with doing what public stations used to do. They want more. But first let's take a look at their growth.
Growing of stream media companies
In the past few years stream media companies like Netflix, Hulu have grown quickly. They began with providing old tv shows and movies from public stations like CBS, ABC and NBC etc.. About four years ago, those companies started to make their own content begin with original series. The most representative original series is House of Card. The public consider this show as a symbol of the rising of stream media. It changed the way people watching tv shows since House of Card and all the other shows Netflix made is all episodes release at one time. Audience don't have to wait for another week to watch a new episode. Not only this new way of watching a show is attractive, the content Netflix made is also more aggressive and bold which means it has more fun for the audience.
Amazon also want to catch the trend of stream media. Speaking of Amazon most people probably see it as a giant online retail company. However Amazon is actual an internet company provides service on many different areas. Amazon Studio is an essential part of its entertainment business. It is a department similar with Netflix. However it has another feature which is providing a stage for people to share ideas, script or clips. Amazon Studio built this platform for young filmmakers with talent to be discovered.
So far we can tell that these stream media companies have become a trend for the entertainment industry.
What does user feel about Netflix
Users' review about a service is always important. A service is successful only when people are happy to use it. So according to the interview, the main reason people like to watch Netflix is because Netflix is more flexible than TV stations which makes it very suitable for young people and suit their habit of using the internet and mobile devices.
Impact on the entertainment industry
Now it has come to the fall of 2016 which means the annual award season of film industry has arrived. Prediction about 2017 academy award has come out. (Oscar 2017). There are 3 films which are distributed by Amazon. That's a pretty big number for a studio especially the studio is still young. Same thing happens to the 2016 academy award where film produced by Netflix been nominated. Not to mention these years' Emmy Award has become the competition between Netflix, Hulu, Amazon and HBO. Public stations are losing both audience and reputation. Here is the prediction for 2016 Emmy Award has come out.(2016 Emmy Award).
Here we can see that these stream media companies have already not been satisfied with exceeding those public stations. They want to compete directly with Sony Columbia, Universal, Paramount, Disney, Fox and Warner. These are the six major companies in the film industry. Right now we can say Netflix has done it. Every movie it distributes have a lot of influence. Even the cinemas don't distribute Netflix's film, using its own platform Netflix has enough audience to watch the film.
We have reasons to believe that stream media companies will continue growing. They are the game changer for the entertainment industry. Since they apply technology on their business. When we are using their Apps, we don't have to worry about what show or movie to watch because the system already makes the recommendation for us. Netflix has complex and advance algorithm to recommend show or movie based on each user's watching history. This is personalization for the users. Creating a positive loop make users want to use Netflix more. There is a paper about how Netflix's recommendation algorithm works. The Netflix Prize.
Because these stream media companies know how to provide content attracts the users, they are the future of the entertainment industry.
reference: James Bennett. The Netflix Prize. 2007