Beyond Netflix: Can Streaming Rivals Leverage IP Strengths?
Entertainment industry analysis has arguably become far too binary in the shadow of Netflix’s great success. Many have already anointed the market-leading streaming company as the sole winner of the streaming wars, positing that it’s foolish for any other competitor to stay in the race. Yet that neglects the easily observable reality that nearly every industry, especially entertainment historically, has always provided enough financial room for several major players. Netflix is absolutely perched atop the throne of streaming, but that doesn’t preclude other entertainment players from securing victories of their own.
When looking at Parrot Analytics’ most in-demand US TV premieres of 2023, which takes into account the level of audience demand within the first 30 days after a first episode has aired, a few trends immediately pop out. First and foremost, Netflix does lead the pack with three of the top 10, yet faces more than enough respectable competition to prevent a full blown monopoly.
Even as Disney’s one-two heavyweight combo of Marvel and Star Wars face questions about brand fatigue, both still manage to draw considerable upfront audiences with Ahsoka and Secret Invasion. A renewed focus on quality over quantity may help refurbish both IP pillars. Warner Bros. Discovery still leverages the impressive reach of linear TV alongside the boost offered by streaming to deliver successes such as Adult Swim’s My Adventures With Superman and HBO’s The Last of Us (both of which did well on Max). Amazon Prime Video and Apple TV+ also land in the top 10.
Notably, just three of the 10 most in-demand premieres of 2023 did not rely on previous on-screen IP and franchise safety nets: Daisy Jones & The Six, Blue Eye Samurai and The Night Agent. Entertainment audiences were not familiar with these properties on-screen prior to their debuts. And yet we know that Japanese animation and crime dramas are immensely popular subgenres while the well-received soundtrack to Daisy Jones served as a major attraction point. Even within less straightforward success, there are trends and patterns to observe and build upon.
Netflix absolutely is and will likely remain the top dog in this realm. But its rivals have other levers it can pull to create its own successes — strategies that Netflix may not always be able to replicate. The streamer does not have a war chest of long-running franchise IP similar to Universal, Disney or Warner Bros., for example.
We forget that streaming is just now leaving its infancy and growing into its adolescence. What will the industry look like 10 years from now? As much as we want to, we should resist the urge to author the future. There's plenty of moves left to be made.
