Battle of Media Streaming Services
On-demand media streaming services has grown vastly worldwide within the past few years. Services such as Netflix and Hulu Plus all are the most well known and common media streaming services that compete against each other. The popularity of both services have increased in their total revenue is due to the consumers’ demand of tv shows or movies for entertainment. In result, the battle of who is the better on-demand media streaming service takes place.
The three services all differ in price and what they have to offer. Netflix’s membership begins at $7.99, but increases to $11.99 as you receive more benefits. On the other hand, Hulu plus offers their members a membership at $7.99, but they do not have other benefits to branch off of. Netflix may gain a larger profit due to the differing memberships whereas Hulu may not have as large of a profit due to an even playing field for all consumers.
Benefits for Netflix have greater option of movies, TV shows, and documentaries while offering a low price. They also do not have ads for paid members. Downsides to this streaming service is lower quality videos and not as updated content. The benefits of Hulu Plus are more updated and recent content with higher quality videos. The drawbacks are that there are ads for paid viewers and a smaller options for content. In a survey out of 7,095 tweets, 29% have Netflix while 20% has Hulu Plus. 48% of these consumers have not tried Hulu Plus’ service. Although 51% said they have both. That 51% receives both of the service’s benefits, but has to pay double the price of one membership. 52% of those individuals cannot decide which service they prefer.
On-demand streaming services has increased drastically within the past few years due to consumers’ constant demand of watching what they want whenever they want. With options such as Netflix and Hulu Plus, they are able to provide for their consumer’s wants even though it is not something they need. When individuals choose just one media streaming service, their opportunity cost is losing some of the benefits from the opposing service.
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