According to Deloitte’s annual Digital Media Trends survey, 47% of consumers believe there are too many streaming services. The statistic implies that nearly half of U.S. consumers are struggling to juggle subscriptions and left with a plethora of options to choose from, including Netflix, CBS All Access, Hulu, Amazon Prime Video, YouTube Premium, HBO, Sling TV, and Showtime. Recently, Disney and Apple have also thrown their hat in the ring, announcing their upcoming additions to the streaming service frenzy.
In 1997, consumers paid a monthly fee to Netflix to have an unlimited amount of DVDs sent to their homes in a red envelope. The red envelopes would evolve into a streaming service launched in 2007. In 2013, Netflix took another step forward and premiered its first original show, House of Cards. Netflix paved the way for other streaming services and led to the decline of video rental stores, leaving one Blockbuster Video left open on Earth. The streaming giant still stands strong but has faced perils, including the recent raising of subscription prices, ending their partnership with Marvel, and tough competition. Netflix’s success has led to the formation of multiple streaming services, and consumers feeling overwhelmed.