Streaming giants like Netflix, Apple, Hulu, and Disney are locked in fierce competition, with Apple losing $1 billion annually despite a $4.5 billion production budget.
Abdul Haleem, Head of Biz Dev APAC at Accedo.tv, predicts only a few platforms will remain profitable due to intense competition and shifting user preferences.
Netflix stands out with its strong global presence and investment in live sports, while other big tech companies face different challenges.
Most home viewers sit blissfully unaware of the silent war raging between household name streaming platforms like Netflix, Apple, Hulu, and Disney. Despite a $4.5B production budget, Apple is losing $1B annually on its streaming service. No matter how much money is thrown into new shows or streaming licenses, providers seem to be neck-and-neck, and barely profitable, while fighting for subscription dollars.
Abdul Haleem, Head of Business Development – APAC with Accedo.tv, global experts in streaming solutions and software, weighs in on the streaming war, noting that very few players will emerge profitable in the midst of intense competition and ever changing user preferences.
Last man standing: “Very few streaming platforms are going to remain at the end of the day,” Haleem says, referencing inevitable consolidation within the industry. “Other than the big tech guys like Meta, Apple, Amazon, and Google, the rest of the operators will continuously struggle to keep their businesses sustainable, let alone profitable.”
Cutting back on original content: For Apple, Haleem explains, the billion-dollar loss doesn’t stem from technology issues—streaming technology and over-the-top (OTT) delivery have proven manageable for the company. “A big chunk of that investment is from the philosophy of creating original content,” he explains. “What we’ve seen in the industry, especially post-COVID, is that spending on original content—and even more so on live sports rights—is on the rise. At the same time, we’re noticing a decline in the number of subscriptions to multiple OTT services. Unlike Apple, Netflix, or Amazon, other OTT operators are struggling to remain profitable, largely due to a reduction in subscribers’ disposable income.”
Unassailable Netflix: Despite the challenges faced by Apple and other big tech companies in streaming, Haleem points to Netflix as a standout in the industry. “Netflix continues to stay apart from the rest of the competition,” he says, citing the platform’s growing investment in live sports and a solid mix of original and syndicated content. “I believe Netflix will continue to lead the market. They are already profitable to some extent, with a strong global presence and success in expanding internationally over the past few years. The challenges for other operators, especially big tech companies like Amazon and Apple, will be very different from those faced by Netflix.”
Gen Z calling the shots: As the industry continues to change, Haleem remains optimistic about the long-term future of video as the dominant form of content delivery. “Video will still remain the mainstream of content,” he says. This includes both high-quality studio-produced content and user-generated content on platforms like TikTok, Instagram, and Facebook Live. The rise of influencers and key opinion leaders has already reshaped the way younger generations consume content. “The new generation is consuming content in a new way,” Haleem emphasizes. “They want their own streams of opinions and endorsements, moving away from the mainstream and traditional subscription-based models.”
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