Netflix Strikes Major Bundling Deal with MBC Group in Middle East

Streaming made a huge leap in growth last year, with more people turning to platforms like Netflix, Hulu, and Disney+ for entertainment. The global pandemic played a significant role in this surge, leading to a 26% increase in streaming subscriptions in the U.S. alone.

The lockdowns and stay-at-home orders forced folks to seek out new forms of entertainment, and streaming services were there to meet that need. Original content became a big draw, with shows like “The Mandalorian” on Disney+ and “Bridgerton” on Netflix becoming instant hits.

Streaming giants have been investing heavily in original content to keep subscribers engaged and attract new ones. In 2020, Netflix spent a whopping $19 billion on content, and Amazon Prime Video was not far behind with an estimated $7 billion investment.

Apart from original content, nostalgia has also played a big role in the success of streaming services. Platforms like HBO Max, Peacock, and Paramount+ have all launched with extensive libraries of beloved TV shows and movies to draw in subscribers.

As more and more streaming services enter the market, competition is heating up. With niche platforms focusing on specific genres or interests, viewers have more choices than ever before. This competition is driving innovation and diversity in content, ultimately benefiting the consumer.