VIP+ eyes 3 key media & tech trends defining 2022 in the face of new macroeconomic challenges
COVID was quite a boost for streaming over the past couple of years. At the onset, at-home entertainment consumption skyrocketed, and that gave streaming platforms a major subscription boost in 2020. Then as the world began opening back up, subscription growth decelerated rapidly and major players like Disney and Netflix felt the pain.
Netflix relies solely on subscription revenue, and that kind of singular revenue stream might have more challenges ahead. Before the rapid saturation of streaming platforms, Netflix was the streaming king in a small pool of contenders, but the pool has grown significantly in the past few years. Saturation is driving immense competition, and old strategies and models aren’t cutting it in the new era of streaming.
Last year, there were 804 media and telecom deals announcements, which was a 27% increase from the previous 12-month period,The recent media and tech M&A action covered a variety of larger objectives. There were some mega-deals , there were some acquisitions of smaller production companies and studios, and some purchases of legacy IP that could unlock fresh programming.
NFT sales totaled $25 billion in 2021 compared with $95 million in the prior year, according to market tracker DappRadar, and some media companies have already begun cashing in on the. For instance, ViacomCBS and Fox created collectible NFTs with some of their most beloved IP, such as “The Masked Singer” and “SpongeBob SquarePants.” Organizations including the NBA and WWE have also tapped into the growing NFT business.
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