Who is winning the streaming war for Australian lounge-rooms?
For many, it may come as little surprise, but today’s release from Roy Morgan Research shows that beyond a shadow of doubt, Netflix has the upper hand in the domestic streaming market.
It’s long been argues that by making content accessible and affordable, the world’s best pirates (us!) would happily jump over to pay for content. Now, the proof of the rapid uptake is here before us.
Thanks to clever geoblock avoidance, it was rumoured that Netflix had some 200,000 subscribers before launching in Australia. It seems many less technologically savvy consumers have taken up the product since its launch on 24 March, and now Netflix has 1,039,000 subscribers in 408,000 homes.
The bad news for almost everyone else (Stan, Presto, Quickflix and Foxtel Play) is that they are getting hammered by the US giant. Perhaps in the coming 12 months we’ll see some sort of consolidation in the market, but exisiting content agreements may make such a move rather complicated.
The key number to watch will be for Foxtel’s subscribers. Over 5,000,000 people live in houses with Foxtel, but it remains to be seen if their $25.00-plus model can sustain the heat in such a competitive market.