By: The BitMar Team.
Image Source: Bing Image Creator.
The global streaming industry is experiencing a period of unprecedented growth; as major players expand their reach into new markets, at a rapid pace. This expansion is having a profound impact on local media production, and consumption patterns; as viewers are increasingly turning to international platforms, for their entertainment needs.
Shifting Preferences, and Diminishing Local Reach:
One of the most significant impacts, of the streaming industry's expansion, is: the shift in viewer preferences away from traditional, local, media outlets. In many countries, audiences are increasingly opting for the vast libraries of content that is offered by international streaming services—which often feature a wider range of genres, languages, and production values; than local broadcasters can provide. This shift is particularly evident among younger demographics; who are more likely to be tech-savvy, and have access to Internet-connected devices.
According to a 2022 report, by: Ampere Analysis, the global streaming market is expected to reach $200 billion, by 2025; with the Asia-Pacific region accounting for the largest share of growth. This growth is being driven by factors—such, as: rising disposable incomes, increasing Internet penetration, and a growing demand for personalized, and on-demand, content.
Local Media: Adapt, or Face Extinction:
In response to the growing popularity of international streaming services, local media companies are facing a critical challenge: adapt, or perish. To remain competitive, local media producers must find ways to differentiate themselves; from the global giants. This can be achieved, by: focusing on producing high-quality, culturally-relevant, content that resonates with local audiences.
One example – of a local media company that has successfully adapted, to the changing landscape – is: the Brazilian streaming service: PlayPlus. PlayPlus offers a diverse range of original content, including: telenovelas, comedies, and documentaries—all of which are tailored to the tastes of Brazilian viewers. The service has been a major success, attracting over 50 million subscribers.
The Rise of Co-Productions, and International Partnerships:
Another way in which local media companies are responding to the streaming industry's expansion, is: by forming partnerships, with international players. These partnerships can take many forms—such, as: co-productions, licensing agreements, and/or content distribution deals.
A notable example – of a successful, international, co-production – is: the German-American series: "Babylon Berlin;" which was produced, by: ARD Degeto, and WDR, in Germany; and Sky Deutschland, in Germany, and the United Kingdom. The series has been praised; for its high production values, and its compelling storyline. It has been a major success, for the broadcasters.
The Future of Local Media, in a Streaming World:
The expansion of the streaming industry is – undoubtedly – having a significant impact, on local media production – and consumption – patterns. While this presents challenges, for local media companies, it – also – presents opportunities; for innovation, and collaboration. By adapting to the changing landscape, and embracing new technologies... local media can continue to play an important role; in informing, and entertaining, audiences—around the world.
Currently, next-generation streaming platforms – like: BitMar – may provide you the most affordable form of on-demand streaming entertainment. BitMar provides all-in-one streaming service, for life, for a one-time payment, of: $99.99 USD. It can connect you to millions of on-demand movies, TV shows, channels, videos, and songs (from many different sources on the Web), on the screens that you already own. In fact, BitMar provides access to more movies, and TV shows, than: Cable, Satellite, Netflix, Disney Plus, Max/HBO Max, Amazon Prime Video, Apple TV+, Peacock, and Hulu – combined – and more songs, than: Pandora, Spotify, Amazon Prime Music, and Apple Music—combined. You may learn more, at: BitMar.com.