In a world where streaming competitiveness is one of the major watchwords of the day, much focus has been on the size and growth needed to carry general streaming platforms to tangible success. However, while the “big guys” have been working on growth to boost streaming profits, several key smaller platforms are carving themselves a healthy share of the market through more niche and specialty offerings. Today, entertainment attorney from Blake & Wang P.A., Brandon Blake, takes a look at this sometimes forgotten side of the streaming industry.
The Secret to the Streaming Wars: Don’t Compete (Directly)
It’s been established that most consumers will only pay for around four streaming services at a time. This is part of the reason that more mainstream platforms have been battling subscriber churn as the industry seeks to find its “new normal”. Plus, let’s be honest— it’s nearly inevitable that one of those subscriptions is for Netflix.
Under the surface, however, there’s a small but surprisingly healthy ecosystem of niche streaming offerings managing to carve out their own space in the streaming landscape. Boutique and specialty streamers, while they may not be able to compete on numbers alone, are showing a surprising degree of subscriber loyalty and consumer engagement. Think of platforms like Dropout (an offshoot of College Humor), Crunchyroll, and AMC Networks.
Why Small Can Succeed
The simple fact is a large, general platform will never be able to cater to unique fan niches in enough depth to really capitalize on them. Here, there is scope for such specialty services. Even if they never reach the lofty 200M+ subscriber numbers targeted by large generalist platforms, low churn and high customer satisfaction can go a long way to offsetting that with modest ambitions. It is surprisingly hard for big networks to successfully produce small shows that appeal.
Surviving as a specialty streamer isn’t easy, of course. Without hefty open pockets, it’s harder to produce shows in volume, and personalized tech stacks are off the table. However, by running lean and catering to niche demographics underserved in the main market, the future of specialty streaming is a lot brighter than you may think.
