The world we live in has shifted to the likes of technology, with many going online. Grandparents are now tapping away on their laptops and toddlers learn how to unlock a phone earlier than they could walk. Technology has become such a big part of our lives, and traditional media has evolved so much throughout the years.
Digital media offers to us the comfort of convenience with just a touch of a button. We no longer have to rush home to watch a programme if it is available for our viewing anytime online. With the time we take to walk down the block to a video rental store, we could simply get on a streaming website and even make some popcorn with time to spare.
Another one of the reasons why a substantial number of digital media users chose to shift is because of its cost-effectiveness. Comparatively speaking, one could purchase a subscription with a streaming sitewith a library full of movies of high defi nition quality- with the cost of purchasing a single blu-ray movie.
With a shift in the audience viewing habit, many content owners made the decision to stay current and to go digital. Here’s a health check on what video streaming companies are doing online.
NETFLIX AND HULU
These two internet-powered TV-streaming platforms are commissioning original content and vying with traditional broadcasters for the premiere of new shows. The shows range from The New Black and Hemlock Grove; plus Hulu co-production The Wrong Mans to Amazon’s LOVEFiLM being the primary U.K. network for Vikings, the MGM Television blockbuster.
Attaining success in their home countries, many of these platforms are considering expanding their reach to the Asian market. Netflix’s launch at Japan in September marked the streaming company’s fi rst foray into the Asian market. Following it, Netflix is set to launch in Hong Kong, Taiwan, Singapore and South Korea early 2016. The giant streaming platform is set to complete its global rollout by the end of next year.
Netflix: US$7.99/month Hulu: US$7.99-$11.99/month
BLOCKBUSTER ON DEMAND
Initially dominating the video rental market in the U.S., the arrival of streaming content pushed Blockbuster’s old-fashioned model obsolete. Blockbuster on Demand allows a user to sign up for the service and only pay for movies rented. Prices are alike to those from on-demand services from cable and satellite providers and range from about US$2.99 to US$4.99 per movie.
Cost: US$2.99-4.99/movie
AMAZON PRIME INSTANT VIDEO
Amazon Prime Instant Video comes packaged with many perks. Paying for a year of Amazon Prime gives one access to their massive music and movie library, along with free two-day shipping and more. The free library includes past seasons of shows. The company is also advancing into original content, most recently and evidently by commissioning a new show from Top Gear. Amazon’s video library has both free and paid content. It is easy to rent or buy content and add them to the library.
Cost: US$99/year
SLING TV
Although it is only available in the U.S., Sling TV offers live TV streaming to its users. At a basic rate of US$20, users can add on tiers with more channels to their package. Also, Sling TV idealistically complements subscription-based online services and broadcast television. It has 250,000 subscribers as at August 2015.
Cost: US$20/basic package
VIKI AND BAIDU
China’s search-engine giant has joined forces with Singapore-based Viki, the online-video service famous for crowd-sourcing its subtitles. They are now bringing international TV entertainment to China. As the Financial Times pointed out, the move gives Viki access to the Chinese market before Netflix, YouTube and Amazon’s streaming services. The partnership was made in late 2013 with aims to push into the China market. However, due to regional licensing, some content might not be available to selected countries.
Viki: Free with ads or US$3.99/month for the Viki Pass (advertisement-free)
iROKOtv
Described as the Netflix for Nigerian-produced Nollywood movies, iROKOtv recently grabbed another US$8 million in privateinvestment funds to grow globally and boost revenues from ads and subscriptions. iROKOtv is available all around the world.
iROKOtv: US$3.50/month
iPLAYER AND TOGGLE
The iPlayer and Toggle are an internet streaming catch-up television for the UK and Singapore respectively. The iPlayer has premiered content such as Bad Education and Moving On on its platform; it also has BBC content available for free viewing. The iPlayer is free without advertisements for all license fee payers in the UK.
On the other hand, Toggle has an uploaded archived library of Mediacorp content. Users can also watch channels live on top of catchup TV. The streaming television is free with payable premium content.
Toggle: SGD$9.90/month
MAKER STUDIOS
Maker Studios is a producer and distributor of online video to millennials, and attracts over 4.5 billion monthly views and 340 million subscribers. The company was sold early 2014 to Disney for US$500 million. Felix Kjellberg (PewDiePie) is signed under its sub-network Polaris, and has the most number of subscribers amongst other YouTube channels.
YOUTUBE
Once the home of frivolous usergenerated content, YouTube is now more accommodating to short and long-form content. Today, its content comes from a range of established broadcasters and producers, as well as the new generation of multiplatform studios such as Machinima, Base79, Fullscreen and Maker Studios. YouTube has a global reach and is free to use with advertisements and regional licensing in place.
DISCOVERY
The factual-TV pioneer took over online channel Revision3 in 2012 to create its Discovery Digital Networks division. It creates, produces and distributes its own web-TV content.
CONDE NAST
The U.S. glossy-magazine publisher operates a network of branded online video channels based on its famous titles, including Vogue, Vanity Fair and GO; and is produces original scripted shows for TV and digital distribution. Their content is free to watch.
XBOX ONE
Steven Spielberg is executive producing a TV series based on the Halo video game series and is set to premiere on Microsoft’s new Xbox One consoles. The Xbox One takes internet streaming to a whole new level as it allows for content to be viewed on a gaming platform. One can conveniently watch a program with the digital TV tuner while waiting for a game to load; or download apps such as Netfl ix, Hulu, Amazon to stream content.
Cost: SGD$569/console
COMEDY CENTRAL
Comedy Central allows basic users to watch free full content (South Park, etc.), and users who are linked with their TV providers to watch an entire library of additional content. However, most of the content will only be available for a period of time, with chances of it returning or not at all. More recently, Broad City, backed by Hollywood comedian Amy Poehler, is now available on U.S. cable network, Comedy Central.
YAHOO! SCREEN
Part of the Yahoo! network of websites, Yahoo! Screen receives more than 800 million visitors a month, and transmits original shorts such as Ghost Ghirls, a co-production by Hollywood actor Jack Black and Shine America, and also The Fuzz and Burning Love, executive produced by Ben Stiller. Additionally, the web-portal giant acquires clips from, among others, Conde Nast Entertainment Group, Discovery, Comedy Central and the U.S. ABC networks. It is available free of charge with advertisements to its users.
YOUKU TUDOU
Since the merger between Youku and Tudou in 2012, Youku Tudou is now one of China’s largest video sites. With an extensive library of content, Youku Tudou provides an endless collection of dramas, fi lms, news, variety shows, music videos, animated features, sports coverage, and much more. The site also supports video bloggers, pushing and promoting their content out for users to watch.
ALIBABA
Alibaba launched the beta of its muchanticipated Netfl ix-style subscription video service early September this year. Although still in its initial phase, Alibaba’s TBO, or Tmall Box Offi ce, appeared after a software update in Alibaba’s smart TV OS.
Cost: US$6.10/month, US$57.30/year
iQIYI
As one of the largest online video sites in China as of 2015, iQIYI has more than 1.28 billion hours of TV shows and movies viewed per month. Users can opt to watch a minute worth of advertisements or pay 5 RMB for a movie. Otherwise, they can enjoy unlimited viewing as a VIP.
Cost: RMB5/movie, RMB19.80/month, RMB58/3 months, RMB198/year
ADAP.TV
AOL recently paid US$405 million to buy Adap.tv, a video-advertising platform, in hopes that it will lure TVadvertising dollars to its websites. With content from external sources, it is free to watch with advertisements. However, it should prepare for competition from the web 3.0 social-media networks, Facebook and Twitter. Facebook is testing the sale of video ads around its users’ newsfeed, while Twitter is shopping for social-TV analytics specialists like Trendrr and Bluefin Labs.
With that, the experiments are over. The diagnosis: it is truly open season for online video as a serious business for content owners. Even social media advertising is acknowledging the power of it, evidently by the evolution of graphics to video advertisements. With so many avenues for revenuesfrom advertisement space to subscription fees-; it is truly no wonder that the internet is a lucrative market beaming with potential for content owners all around.
