Days of collecting DVDs, tapes and storing them in a cupboard are gone as the streaming services through the internet are gaining traction, apart from disrupting the traditional business models.
Streaming has changed the consumer habits and is giving a boost to the industry with the launch of local services from Starz Play and icflix for a monthly subscription, along with other devices available in the market. According to PWC, video streaming services such as Netflix and Hulu will make more money per year than the US movie box office by 2017. PWC analysts say that online and TV-based streaming services revenues to rise to $11.47 billion in 2016, before reaching $17.03 billion in 2018.
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