COVID-19’s Impact on the Competitiveness of Streaming Services: Comparative Analysis of Netflix, Disney+, and Peacock

Abstract

This essay outlines how the COVID-19 pandemic increased the competitive nature of the streaming service industry. Throughout the essay, statistical data is provided that outlines how COVID-19 supplemented the increasing trend for audiences to no longer look towards cable but lean towards streaming service options for content. For example, data gathered through a Pew Research Center survey that outlines how the number of U.S. adults that watch television via cable or satellite has plunged from 76% in 2015 to 56% in 2021 (Rainie). In comparison, there was a 26% increase in online video subscribers worldwide in 2020 (Adgate). This data summarizes the increasing competitiveness of streaming services, which was accelerated due to the lockdowns during the COVID-19 pandemic that gave audiences ample time to figure out the best way to experience content at home. In order to get a fuller comprehension of the rising competitiveness in the streaming service market that has occurred during the COVID-19 pandemic, I will conduct a comparative analysis of how three streaming services acted during this time. Specifically, Netflix, Disney+, and Peacock have tried to stand out during the pandemic by creating unique release windows, focusing on international and original content, or by acquiring big sporting events. Overall, the business decisions of Netflix, Disney+, and Peacock provided further insight into how streaming services evolved over the COVID-19 pandemic and showed how the pandemic increased an already competitive market, causing each major business to look towards innovative strategies to pull in new paying subscribers.