At one point, it seemed like Netflix had become the undisputed king of OTT platforms, despite the presence of bigwigs such as Amazon Prime Video. Now, it seems that it will be facing competition from the most traditional of media bigwigs.
Disney's streaming service, Disney+ is striving to be a big competitor and according to a new study, has already gained a million subscribers even though it is slated to launch in the coming weeks.
The study, which was done by data analytics firm Jumpshot has gathered insights, which reveal that the streaming service has got a promising future ahead of itself.
The company's own internal forecasts predicted that it will gain 20 to 30 million subscribers by 2024. But, the new study puts in even more favourable numbers. The company has used a panel of 100 million devices to gather its insights and also used data from consumer searches, clicks and transactions.
The data accessed includes pre-sale purchases during August 25 to October 14. Further insights revealed that 31 percent of prospective Disney+ users are currently on at least one OTT platform. Of these, 19.4 percent stream Amazon Prime, 18.5 percent stream Netflix and 9.1 percent stream Hulu.
Many users have access to multiple platforms every day.
Disney has also tied up with network operator Verizon in the US – Verizon users will get a full free year of Disney+. Disney owns franchises such as Star Wars and Marvel, which have a special attraction for kids.
Disney+ is not the only upcoming streaming service – Apple is launching the Apple TV+, while HBO is launching its HBO Max streaming service. NBCU is launching a Peacock streaming service.
From all accounts, it seems that the streaming platform war is going to heat up massively. This can only sound like good news for the consumers.
What remains to be seen is how it affects prices, quality and variety of offerings.