In recent years, streaming subscriptions have seen a steady growth as more and more people turn to online platforms to access their favorite movies and TV shows. However, rights holders were not expecting this growth to slow down as much as it has in 2022.
The COVID-19 pandemic has had a significant impact on the entertainment industry, with many productions being delayed or halted altogether. This has led to a shortage of new content for streaming platforms, which in turn has led to a slowdown in subscriber growth. Additionally, with many people still financially impacted by the pandemic, some may have had to cancel their streaming subscriptions in order to save money.
Another factor that has contributed to the slowdown in subscriber growth is the increasing number of streaming platforms available. While it was once just a few major players, there are now dozens of streaming services vying for viewers’ attention. This has led to a saturation of the market and has made it more difficult for any one platform to stand out and attract new subscribers.
Despite these challenges, rights holders are still optimistic about the future of streaming subscriptions. Many believe that as the pandemic subsides and productions are able to resume, there will be a resurgence in new content and subscriber growth. Additionally, with many streaming platforms now offering free trials and flexible subscription options, it is easier for people to try out different services and find the one that best fits their needs.
Another trend that has emerged in the streaming industry is the rise of niche platforms that focus on specific genres or audiences. These platforms have been able to attract a dedicated audience and have seen strong subscriber growth, even in the face of the overall slowdown.
Rights holders also believe that streaming subscriptions will continue to grow as more people around the world gain access to the internet. In many developing countries, streaming platforms are still relatively new and have yet to reach their full potential in terms of subscriber growth.
In conclusion, while the slowdown in subscriber growth in 2022 has been unexpected, rights holders are still optimistic about the future of streaming subscriptions. With new content on the horizon, niche platforms on the rise, and the potential for growth in developing countries, the streaming industry is still expected to see growth in the years to come.
Streaming platforms are now a key part of entertainment and will continue to be a major player in the industry. With the right approach, streaming platforms can continue to attract new subscribers and retain the existing ones. As streaming subscriptions continue to grow, rights holders will continue to be more involved in the distribution of their content and they will continue to have a significant impact on the entertainment industry.
Over 50 articles on “Sync Music Licensing” by Composer Tommy Mac: https://syncmusic.substack.com
