The competition between streaming services is growing and Amazon won’t be dismissed.
As streaming services like Hulu and Netflix adjust to the entry of platforms that are projected to be released in the near future, Amazon adds to its marketing efforts. It seems more and more people are cutting the cord and moving to streaming services to get their entertainment fix. Forbes cites a recent study by ZypMedia that explains that most who move away from live TV typically have more than 3 streaming subscriptions and the majority of those who stream their entertainment agree that it’s a better value.
In a recent ad campaign by the streaming service Tubi, the company encouraged entertainment streamers to “cheat” on Netflix and try Tubi instead. Tubi is a platform that utilizes ads to create a free service. Suggestive ads can be seen in big cities like Detroit, New York, and Los Angeles that recommend breaking up with Netflix for Tubi.
With services like Tubi, Disney+, and Apple+ soon to be in full force, the old dogs have some competition. With in the social media realm platforms like Facebook, Snap and Twitter are plotting to get in on the streaming movement.
To Combat these new services, and better compete with Netflix, Amazon has made recent steps to amp up their advertising game. Marketing Dive explains Amazon tripled its budget during the earlier part of this year. Additionally, the streaming arm of the e-commerce giant increased its TV spending by 28% for Amazon Prime Video. The article went on to explain in contrast to Amazon, Hulu cut back TV ad spend by 40% and Netflix has also reduced ad spend and opted to create native advertising within Netflix originals like “Stranger Things.”
Amazon has focused on over-the-top (OTT) strategies to better create a better platform growth increase of marketing efforts of Amazon original shows like “Hanna,” “The Boys,” and “Good Omens.” The fact that huge companies are shifting large sums of money to reach audiences means that the streaming industry and marketing as a whole is constantly changing. To stay up to date on marketing new subscribe to the Holler Hustle.