In 2020, the business world was forced to leave the offices behind. In doing so, they had no choice but to communicate with colleagues and customers from home through live video streaming. The benefits of livestreaming from home can’t be denied and, even as the world slowly goes back to normal, it will remain a popular choice for many moving forward.
Television has had a major overhaul in the past decade, with the era of streaming changing how viewers watch the small screen forever. With the emergence of multiple platforms and the dropping price of high quality TV sets, consumers found reasons to let go of their cable boxes and embrace cord-cutting for good.
THE RISE OF CORD CUTTERS
The 2010s marked the official emergence of over the top (OTT) channels, with the period cementing the video content streaming trend as a television mainstay. In fact as the decade comes to an end, cord cutting is expected to be at its peak so far, with nearly 5 million households reportedly ditching cable this year. This phenomenon has in fact resulted in a generation of consumers who never opted into cable plans to begin with for their new households, and instead going straight to streaming.
Hulu’s prominent role in today’s so-called streaming wars places it within the group of big players, including Netflix, Amazon Prime Video and HBO Go. Boasting 25 million subscribers as of 2019, Hulu currently relies on a hybrid model implementing both ad-accompanying low-cost, as well as premium subscription plans. This makes Hulu a great example of a combination ad-supported (AVOD) and Subscription Video on Demand (SVOD) platform in the larger OTT space.