- Deloitte published report earlier this year looking into growth trends driving the global TMT industry
- Study found that consumers have embraced online streaming platforms in 2020, with average customer subscribing to three streaming platforms
- The Movie Studio has sought to capitalize on sector’s growth through launch of its own streaming platform as well as through purchase of content aggregator, BINGE Networks LLC
- Deloitte ultimately expects online streaming sector to consolidate, with only handful of platforms taking lion’s share of market
As the world progresses through what can only be described as a wildly tumultuous year, it is evident that trends, such as the avid use of online streaming platforms, have emerged – a movement which independent, Florida-based film studio The Movie Studio (OTC: MVES) has sought to capitalize upon through the launch of its own eponymous online streaming platform.
With subscriber numbers for online streaming platforms more than doubling on a year on year basis, global consultancy firm Deloitte set out to delve deeper into the drivers underpinning the sector’s growth, publishing an extensive report setting forth the company’s findings on the current state of the global technology, media and telecommunications industry (https://ibn.fm/Lduh6).
In a recent survey carried out by Deloitte, a larger number of respondents indicated that they had at least one streaming video subscription (69 percent) relative to those who still possessed a traditional paid television subscription (65 percent) for the first time on record (https://ibn.fm/mN5s6). In response to an explosion in the number of online streaming platforms – the past 24 months has seen the launch of Disney+, Peacock, ViacomCBS and HBO Now amongst various others – studios have responded by withdrawing content rights from third-party streaming platforms in a bid to secure original content for their own platforms.
The move to de-aggregate media content in turn has led consumers to subscribe to multiple platforms, with Deloitte’s Digital Media Trends survey finding that consumers had subscriptions to an average of three streaming video services—a number which has remained steady over the past two years. In response to its findings, Deloitte concluded that streaming services owning the broadest content libraries would likely own the inside track to success, a strategy which has been evidenced by the likes of Amazon and Roku, both of which has attempted to bundle their media content offerings with gaming and music content in an attempt to entice subscribers to their platforms.
The Movie Studio has responded to the surge in competition within the online streaming video platform sector through an ambitious original content creation program, one that has seen the company produce and distribute major motion pictures such as ‘Exposure’, ‘Bad Actress’ and ‘Dancing on the Edge’ in recent times. Separately and in addition to its own content generation, MVES announced the acquisition of BINGE Networks, LLC earlier this year; in contrast to stand-alone streaming platforms, BINGE Networks operates as a distribution agent, providing over 100 individual OTT platforms, including the likes of Roku TV, Apple TV and Amazon with access to its content library of over 15,000 videos and 300 indie films (https://ibn.fm/t7Fdt).
Within its report, Deloitte revealed that it ultimately expected the online video streaming platform business to consolidate into a handful of businesses possessing the most extensive content libraries, with consumers selecting a handful of “must have” subscriptions. Meanwhile, those media companies boasting large libraries which did not make the cut could potentially look to launch their own ad-supported streaming services (in a bid to attract non-subscribers) or, in its stead, join an ad-supported aggregator.
Boasting its own subscription-based streaming platform as well as that gained through its acquisition of BINGE Networks, which operates as a content aggregator in its own right, The Movie Studio has taken great strides toward strengthening its hold on a sector which is expected to witness a wave of consolidation in coming years; more critically perhaps, it has also laid the groundwork needed to capitalize on the stunning growth trends within a sector set to grow at a CAGR of 20.4% over the coming seven years (https://ibn.fm/VhfG0).
For more information, visit the company’s website at www.TheMovieStudio.com.
NOTE TO INVESTORS: The latest news and updates relating to MVES are available in the company’s newsroom at http://ibn.fm/MVES