Forget the Streaming Wars -- Pandemic-Stricken 2020 Lifted Netflix and Others
The past 12 months were billed as the year when a flood of new entrants would force streaming services to wage an all-out war for subscribers. Instead, incumbents and rookies alike feasted on a base of shut-in customers eager for more things to watch. From a report: The largest streaming services finished 2020 with combined U.S. subscriber numbers more than 50% higher than a year ago, according to a Wall Street Journal analysis of data from market-research firms MoffettNathanson and HarrisX. They enjoyed a captive audience. The coronavirus pandemic triggered lockdowns that sent millions of Americans home, leaving many people with more time to watch movies and shows from the couch. The virus also prompted movie theaters to shut down and sports leagues to go on hiatus for months, further boosting streaming services' appeal. "Instead of a streaming war, there's been streaming coexistence and parallel growth," said Dritan Nesho, HarrisX's chief executive. New services such as Walt Disney's Disney+ grew rapidly without necessarily harming established players such as Netflix and Hulu, he said. "Disney+ did not displace existing services," Mr. Nesho said. "It complemented them."
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