In contrast to the rise of streaming providers, the traditional linear TV landscape is dealing with
paramount challenges. The Video-on-Demand (VoD) services of different streaming platforms are
emerging quickly, fulfilling new consumer demands for content consumption. The main reasons
why consumers opt for a streaming service include the availability of a wide range of movies, series,
and documentations, the option of remote streaming (i.e., a streaming service can be used from
everywhere), device flexibility, and the breadth and depth of the content available. Still, there is a
lot of potential for streaming providers to further increase their customer bases worldwide – even
in the United States , where the percentage of the population subscribing to a VoD streaming
service is currently highest.
The COVID-19 pandemic is another factor that has supported the rise of streaming
services. Streaming revenues worldwide increased by 11% in 2020, while classic TV
revenues were down by 6% .
This development is based on decreased spending on overall advertising.