The Pandemic-Induced Success Of Streaming Services Is Finally Starting To Settle Down

With the pandemic lockdown having almost become a bad dream for most across the globe, the streaming service boom is also starting to wind down. Let’s take a look at what this spells for the future.

Here’s the thing: with a digital phenomenon such as the advent of streaming starting to lose momentum, there are probably a number of factors at play. As always, the first consideration should just be that the trend’s settling into a period of intermittent dormancy, following which it’ll burst out and shine again. If denim clothing can make a comeback, so can one of the most popular forms of content consumption (Blockbuster Video is exempt from any such comments). Even right now, streaming services as a whole are more winding down and less nosediving. Figures from Variety reveal that streaming on-demand services saw an overall increase of 13% in 2022, which is definitely less than the growth of 19% experienced across 2021, but still documents strong growth. Streaming in the USA, on the other hand, is expected to fall to an annual 8% growth; a far cry from the 27% during peak pandemic 2020. Streaming services aren’t dying out, but they are definitely showing signs of slowing down.

What, however, are the reasons for such a decline? Streaming services provide us with primetime entertainment at our convenience; what seems to be the issue? Well, as I’ve stated before, the answer is definitely multi-faceted. For starters, we have to consider the fact that streaming services can obviously never pretend to the same heights as they achieved in 2020. Lockdown’s over on a global basis, everyone’s back to their jobs and regular activities, and not everyone can make time for Netflix and…having a good time. It might have been a good run, but we’ve now got other work to attend to. Secondly, there’s fatigue to consider. I personally don’t view the content fatigue angle in a very high regard. It’s a criticism that people have been hurtling at Marvel movies for a literal decade, only for the next installment in the franchise to continuously make big box office dollars and returns. Then again, maybe people have gotten tired of the constant stream of content; I understand how it can be exhausting.

Finally, there’s also inflation to consider, especially the way it’s occurring on a global scale. Energy prices keep hiking up, and streaming services can be a real burden on the old electricity bill. Maybe it’s better to forgo a TV in lieu of watching YouTube videos on your laptop.

Read next: App Market Reaches New Heights in Q2 2022, on Course for $33 Billion Consumer Spend and 34 Billion Downloads

Previous Post Next Post