Streaming Apps Services Dominate

Cable and satellite TV subscriptions have plummeted, as consumers move to internet-based “streaming” channels and platforms. Benefits to consumers may include no long-term contracts and lower overall costs, compared to their old cable or satellite subscriptions.

Competition from Netflix: Netflix.com began as one of the largest movie and TV show rental sites in the world, peaking at more than 221.84 million subscribers worldwide as of late 2021, capping off 15 years of growth. For a monthly subscription fee, users enjoy streaming an unlimited number of movies. Netflix’s business model initially was based on mailing DVD copies of movies to its subscribers. This was a costly business, involving multiple warehouses and massive postage and handling expenses. At a rapid pace, however, the firm invested in state-of-the-art technology to enable it to focus on streaming via the internet. While Netflix still supported DVD subscribers as of 2023, this is a minor part of its business. Playback of a Netflix streaming movie starts a few seconds after download begins. Subscribers instantly watch movies and TV episodes streamed over the internet.

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