The success of a streaming platform depends on various factors, including launch timing, novelty, marketing, content, and more. While some platforms achieve fame, others fade into obscurity.

In planning and developing various streaming services over the years, our analysts have studied many competitor platforms, including key market players, to learn from their successes and avoid their mistakes. Drawing on this expertise, we have researched the reasons behind streaming platforms' successes and failures. 

Let’s examine some examples to understand how not to build a streaming business.

Key Takeaways

1. Quality Content: exclusive, high-quality content attracts and retains subscribers, as seen with Netflix’s success.

2. User Experience: a seamless, intuitive interface and reliable performance are key to user satisfaction, demonstrated by Disney+.

3. Adaptability: streaming services must evolve with changing preferences and technology. Amazon Prime Video shows the benefits of diverse content and ecosystem integration.

4. Balance is Key: successful streaming services must combine great content, user experience, and innovation to thrive.

Content is King

A service with exclusive, high-quality content can attract and retain subscribers. Netflix's rise to prominence is largely due to its investment in original content. Shows like Stranger Things, The Crown, and The Witcher have not only drawn viewers but also built a dedicated fanbase. Netflix's strategy of producing a wide variety of original content ensures it appeals to diverse tastes, keeping subscribers engaged.

In contrast, Quibi, a mobile-first streaming service launched in 2020, failed to secure a strong foothold. Despite raising nearly $2 billion and enlisting top Hollywood talent, Quibi struggled to attract and retain viewers. Its content, designed for quick, short-form viewing on mobile devices, did not resonate with audiences already accustomed to longer, more immersive experiences offered by competitors. Additionally, Quibi launched during the COVID-19 pandemic, a time when people were less likely to be on the go, further diminishing its appeal. The lack of compelling, must-watch content led to its downfall, and Quibi shut down less than a year after its launch.

Another example of an ill-fated service is SeeSo. Launched by NBCUniversal in 2016, SeeSo failed to make a mark despite its focus on comedy. Although it offered a range of original and classic comedy content, it struggled to compete with more established players. The limited scope of its content library and the inability to secure exclusive, high-profile shows resulted in low subscriber numbers. After just a year and a half, SeeSo was shuttered, illustrating the critical importance of compelling content.

User Experience

A seamless user experience is crucial for the success of a streaming service. This includes an intuitive interface, personalized recommendations, and reliable performance. Disney+ has excelled in this area by offering an easy-to-navigate platform. Its clean interface and the ability to create multiple user profiles have contributed to its rapid growth and high user satisfaction.

Conversely, Apple TV+ faced challenges despite Apple's strong brand presence. The service debuted with a limited content library, and its user interface, while sleek, was not as intuitive as competitors'. Many users complained about the design's complexity and lack of user-friendliness. Apple TV+ has since expanded its content and improved its user experience, but its initial struggles highlight the importance of a robust launch.

Adaptability and Innovation

The ability to adapt and innovate is another critical factor. Streaming services must continuously evolve to meet changing consumer preferences and technological advancements. Amazon Prime Video exemplifies adaptability by offering a diverse range of content, including licensed movies and shows, original programming, and live sports. Additionally, its integration with Amazon’s e-commerce ecosystem provides added value, making it an attractive option for Prime members.

In contrast, Blockbuster's late attempt to enter the streaming market serves as a cautionary tale. Once a giant in the home video rental industry, Blockbuster failed to recognize the potential of online streaming early on. Instead of embracing this new technology, Blockbuster continued to focus on its brick-and-mortar stores, leading to a significant loss of market share. By the time it launched its streaming service, Netflix had already established itself as the market leader. Blockbuster's failure to adapt quickly enough led to its eventual bankruptcy and closure.

To sum up

The success of a streaming service is determined by various factors, including content offerings, user experience, and the ability to innovate. Netflix and Disney+ have thrived by excelling in these areas, while Quibi, SeeSo, and Blockbuster serve as reminders of the consequences of missteps and missed opportunities. As the streaming landscape continues to evolve, only services that can effectively balance these elements will endure and flourish.

Interested in in developing a high-value streaming platform? Contact us or book a quick call for a free personal consultation.

‍

Take a look at our other articles too:

Monetisation Strategies for Streaming Platforms

5 Tips for Effective Speech-to-Text in Live Streaming

3 Best Software Solutions for Real-Time Meeting Translation

  • Technologies