However, the death of the cable TV industry seems to be perpetual. It is understandable for the cinema industry to slow down drastically due to the lockdown it might even boost right up to pre-pandemic levels as the pandemic dies down. People all around the world have begun to prefer using SVOD services instead of paying for cable TV or cinema tickets. There has been a gradual shift in consumer demand for movies and video content, which has been accelerated by the coronavirus pandemic. However, the stocks of Amazon Prime Video (NASDAQ: AMZN) and The Walt Disney Company (NYSE: DIS) cannot be judged solely over the performance of their SVOD services, as they have multiple other revenue streams unlike Netflix, Inc. (NASDAQ: NFLX) witnessed a staggering 49% increase in its stock price in the first six months of 2020, with 16 million new subscribers in the first quarter of 2020. (NASDAQ: AMZN), Disney+ by The Walt Disney Company (NYSE: DIS), and Hulu developed by Comcast Corporation (NASDAQ: CMCSA) and The Walt Disney Company (NYSE: DIS).Īccordingly, the revenue generated by several streaming services rose significantly. (NASDAQ: NFLX), Amazon Prime Video by, Inc. Moreover, 55% of all US households are subscribed to more than one of the largest 4 SVOD services, namely: Netflix, Inc. Overall, streaming services witnessed a massive surge during the pandemic.īy September 2020, 78% of all US households were subscribed to SVOD services, which was a massive boost from the statistic of 69% in 2019.
(NASDAQ: AAPL) in the first two months after the coronavirus emerged.
(NASDAQ: AMZN) and Disney+ by The Walt Disney Company (NYSE: DIS) and AppleTV+ by Apple Inc. Moreover, 12 million people subscribed to streaming services such as Netflix, Inc. Screen time, therefore, increased by 31% as a whole. During the lockdowns enforced in March and April 2020, people in the United States reportedly spent 40% of their days on average in front of screens. The coronavirus pandemic also brought about significant shifts in the video streaming behavior of people worldwide.