The Race to Replace TV: Netflix and YouTube’s Borrowing Game
Traditional television is in crisis. In the race to replace it, classic streaming services like Netflix, Disney+, Amazon Prime Video, and Apple TV+ are not the only competitors. The transformation of viewing habits—where people no longer sit in front of the TV with the remote at a specific time waiting for their favorite show to start—has led to a radical change in the nature of what is watched. Not just movies, not only TV series or reality shows, but also videos uploaded by ordinary users from around the world. This is how, as highlighted by a VIP+ study from Variety, Netflix finds itself elbowing for space with YouTube.
Earlier this month, Nielsen reported that the video-sharing social network became the most-watched media company on American TVs in July. YouTube is the first streaming company to surpass 10% viewership and the first to dethrone Disney+.
As part of the recent “Made on YouTube” event, the company unveiled significant updates to its TV app. These updates include the ability for creators to organize their videos into episodes and seasons, as well as select “immersive” trailer-style previews that will play when TV users visit their pages. Does this sound similar to Netflix’s homepage to you?
In its ‘SVOD vs. Social Video’ report, MIDG Data revealed that while leading streaming platforms still gain more overall viewership than social video platforms, that gap narrows with each passing year, especially among younger generations. As of this year, Gen Alpha users watch more social videos than SVOD content, albeit by a narrow margin. If your child prefers watching videos of other kids doing makeup on Barbie or drawing princesses instead of Disney or Netflix cartoons, you’re not alone.
Whether in response to changing consumer preferences or as an act of psychological warfare, Netflix is now looking to diversify its portfolio by leveraging successful YouTube content. For example, the streaming giant is seeking to create live episodes of “Hot Ones,” the popular YouTube talk show where host Sean Evans interviews celebrities while they eat chicken wings (or sometimes vegetarian alternatives) coated in increasingly spicy sauces. This situation seems like a win-win on paper: Netflix buys a proven concept that is cheap to produce and beloved by Gen Z viewers. Sean Evans would gain a sort of quality seal, free from the amateur stigma that YouTube has only recently begun to shake off.
Source: Variety
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Traditional television is in crisis. In the race to replace it, classic streaming services like Netflix, Disney+, Amazon Prime Video, and Apple TV+ are not the only competitors. The transformation of viewing habits—where people no longer sit in front of the TV with the remote at a specific time waiting for their favorite show to start—has led to a radical change in the nature of what is watched. Not just movies, not only TV series or reality shows, but also videos uploaded by ordinary users from around the world. This is how, as highlighted by a VIP+ study from Variety, Netflix finds itself elbowing for space with YouTube.
Earlier this month, Nielsen reported that the video-sharing social network became the most-watched media company on American TVs in July. YouTube is the first streaming company to surpass 10% viewership and the first to dethrone Disney+.
As part of the recent “Made on YouTube” event, the company unveiled significant updates to its TV app. These updates include the ability for creators to organize their videos into episodes and seasons, as well as select “immersive” trailer-style previews that will play when TV users visit their pages. Does this sound similar to Netflix’s homepage to you?
In its ‘SVOD vs. Social Video’ report, MIDG Data revealed that while leading streaming platforms still gain more overall viewership than social video platforms, that gap narrows with each passing year, especially among younger generations. As of this year, Gen Alpha users watch more social videos than SVOD content, albeit by a narrow margin. If your child prefers watching videos of other kids doing makeup on Barbie or drawing princesses instead of Disney or Netflix cartoons, you’re not alone.
Whether in response to changing consumer preferences or as an act of psychological warfare, Netflix is now looking to diversify its portfolio by leveraging successful YouTube content. For example, the streaming giant is seeking to create live episodes of “Hot Ones,” the popular YouTube talk show where host Sean Evans interviews celebrities while they eat chicken wings (or sometimes vegetarian alternatives) coated in increasingly spicy sauces. This situation seems like a win-win on paper: Netflix buys a proven concept that is cheap to produce and beloved by Gen Z viewers. Sean Evans would gain a sort of quality seal, free from the amateur stigma that YouTube has only recently begun to shake off.
Source: Variety
Share:
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