Businesses to ‘bite’ billions in losses in ‘streaming wars’

Streaming giants could soon be hit with multi-billion dollar losses as the market is about to become “incredibly crowded”, Professor Mark Ritson has told Sky News at the Inform News Media Summit. “We’re going to have to call it the streaming wars because that’s what it’s about to be. It’s a global war,” Professor Ritson said. “You look right now at who’s streaming content, the free to air channels are doing that, we’ve obviously got Netflix doing a pretty good job, Google have their own Google Play service, Foxtel have of course their total streaming service, and we’re going to see Amazon Prime doing something but probably growing. “Now add to that CBS, NBC, Disney+, HBO Max, Hulu will probably come in. “We’re going to see a dozen players in every country trying to make room in the schedules and in the airtime and in the pockets of Australian homes.” Professor Ritson said the market will probably only support three media players. “It would be ABC, Foxtel, let’s say Disney+,” he said. Image: Getty

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