As Netflix looks for new ways to slow its hemorrhaging subscriber base and younger entrants like Disney+ and Apple TV+ experiment with new strategies to drive engagement, the streaming wars are heating up, and 2023 shows no signs of slowing down.
THE STORY SO FAR
Looking back on 2022, it’s hard to deny that the streaming industry has become even more competitive. The question of who won the streaming game in 2022 is not a straightforward one, as the industry saw a significant shift in the way it operates, with Wall Street turning on the direct-to-consumer business model and wiping out more than $500 billion in market value for major media companies. Furthermore, the headwinds that the industry faced in 2022 are still present heading into 2023, making it a difficult task to declare a clear winner in the streaming game. Despite this, one company that stands out as a leader in the streaming market is Netflix. The company has been a dominant player in the streaming industry for a long time, and while it faced many challenges in the past year, it was still able to maintain its position at the top of the heap. Still, it’s worth noting that Disney+ managed to attract more new subscribers than Netflix in 2022 as it ramped up its sales and marketing strategies.
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