The streaming wars have been the media and entertainment industry’s all-time favorite topic. Netflix was the one who directed powerhouse in the subscription video on demand (SVOD) world and has been preparing for increased competition from new video platforms, such as Apple TV+ and Disney+. Reed Hastings, Netflix’s CEO said that it’s good for business because “competition grows the industry.” Research from Kantar found that the majority of streamers (44 percent) pay for at least two streaming services, and less than a fifth (18 percent) pay for at least three.
The equivalents of Amazon Prime Video, Disney+, and Netflix have been seen investing billions of dollars in original programming to establish themselves as the market leader. Netflix is expected to house around 1500 TV series and 4000 films while Amazon Prime Video is home to almost 20,000 titles. Moreover, viewers were found spending an hour a day in search of content and the service that will fix this problem will win the streaming wars.
Video streaming providers can also use AI in content discovery to further engage consumers by following the lead of popular music streaming services that are already utilizing AI to provide individual users with curated playlists and personal radio channels. Moreover, a highly accurate assessment of content assets can be made by the advanced AI technologies by documenting factors such as scene length, dialogue, and color palette.
This can help evaluate how similar each asset is to every other asset and then this information can be combined with an AI engine that eventually analyzes a household’s watchlist, bringing together a more advanced and nuanced understanding of the content asset.