The State of Streaming

NBC’s Peacock Sees Growth

As the pandemic continues, consumers are still hungry for video streaming content, and platforms are crowding into the market competing for their attention. Though Netflix (NFLX) is still the name to beat and is outspending rivals on acquiring and creating content, there are also other services trying out new strategies and seeing significant growth.

Peacock, NBC’s (CMCSA) streaming service, recently hit 15 million sign ups. This marks a 50% increase in signups for the platform since the end of July. The free, ad-supported service hopes to have 30 million to 35 million active users by 2024.

AT&T’s HBO Creates Ad-Supported, Cheaper Service

AT&T (T) plans to offer a new version of HBO Max starting next spring. This iteration of the service will be cheaper than the current version of HBO Max, which costs $14.99 per month. HBO will also continue to offer the more expensive, ad-free version of the service.

The new HBO Max will include some advertising, which marks a significant shift for the company. HBO has not used advertising for its 47-year history. HBO Max and HBO currently have over 36 million US subscribers. The company’s goal is to have 50 million US subscribers by 2025.

ViacomCBS Rebrands its Streaming Service

ViacomCBS (VIAC) is launching a new iteration of CBS All Access which will be called Paramount+ after the company’s movie studio. The platform will have exclusive, original shows and is scheduled to roll out early in 2021.

As the weather starts to get cooler and options for outdoor activities become fewer, streaming numbers may get a boost this fall and winter. Investors will be following closely to see which of the many companies vying for viewers will come out ahead.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS091702