Some say that the next 18 months are going to influence the entertainment business for the next 20 years. Here is how Hollywood’s major players are planning to throw down
Courtesy of Disney +/Amazon Studios/Netflix
Next up for Pluto TV is a big consumer marketing push and a broader international rollout in 2020, starting in Latin America with Spanish- and Portuguese-language versions. “Pluto TV is an integral part of our growth strategy,” Bakish says. “It’s not something off to the side for us. It’s a core use of content assets and allows us to work in a more meaningful way with distributors and advertisers.
Since then, Wall Street has been nodding along with Disney’s streaming plans, energized by the company’s focus on direct-to-consumer platforms Disney Plus and ESPN Plus, taking the spotlight off ESPN subscriber losses and other cable sub erosion. Disney has also bundled both streaming services with Hulu, of which it has now taken full operational control after years of splitting ownership with NBCUniversal, Fox and Time Warner.
Of course, says Creutz, the market is willing to forgive quite a lot, if you can clearly articulate a path forward to growth. But the market in the U.S. is increasingly a saturated one, and Netflix, perhaps more than any other major domestic player, has been focused on growing its international subscriber base . The company spent 2019 staffing up local offices — Mumbai, Mexico City, Paris and Berlin, among others — in the countries in which it makes original content, says Netflix’s head of international non-English originals, Bela Bajaria.
At the same time, those arguably lower stakes give Apple and Amazon the freedom to take more risks on content, since they don’t have the same expectations from shareholders. “I don’t think Jeff Bezos cares 1% if their media business ever makes money,” says Cowen’s Creutz. “Which is part of the problem for the other guys.”
Apple TV Plus remains possibly the greatest question mark in the year or two ahead. Its launch of relatively few original series includes the big-budget “The Morning Show,” which garnered lukewarm reviews, though all four scripted dramas scored early renewals, pointing to some sense of commitment to the endeavor from the iPhone maker.
Whether the fierce competition will spur a price war — or further consolidation — is a matter of mixed opinion. Disney Plus’ “really aggressive” price, including its freebie for nearly 20 million Verizon users, will have a broad impact on the rest of the industry, Pivotal’s Wlodarczak believes. “Because they’re so aggressive, it makes it very difficult for more than a few other players to compete,” he says. “That’s the big one.
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