There’s an annual increase in consumer acceptance of streaming services, and these provide consumers with more options of enjoying media and entertainment on the go and wherever they are.
The 1990s transformed media & entertainment from conventional media on TV & Radio to digital platforms. Though, in the 1990s online content was mostly pirated versions of the original. In 2021, movie producers, performing artists, and record labels constantly upload new content on streaming platforms such as Apple Music, Spotify, Boom Play, Netflix, Amazon, YouTube, etc.
Streaming Services in Nigeria.
In 2011, Iroko TV pioneered the first streaming service in Nigeria by digitally providing Nollywood and Ghanian movies. From then until now, the streaming industry has become a competitive market in Nigeria. Foreign streaming platforms recognized the market potential in Nigeria and made their services available in the country. Homegrown services have also sprung up with the likes of; Delonifera TV, NollyLand, Gbedu, UduX, etc.
The Nigerian customer base on these platforms increases yearly, and cable TV companies shave recognized the digital disruption and introduced video-on-demand streaming services. Examples include the launch of ShowMax in 2015 by Multichoice and StarTimes ON in 2018 by StarTimes.
The streaming services available in Nigeria so far have studied the Nigerian market and develop strategies based on their studies. A few have introduced subscription plans at highly affordable rates from as low as NGN 900 & above. They’ve also made their services user-friendly for android devices, as a vast population of Nigerians uses Android phones. There’s been an increase in the market share of Nigerians using Android devices from 68.6% in January 2018 to 85.6% as of June 2021. Some other streaming services have partnered with network services providers for mobile data plans that can be used for streaming on their platforms.
All the strategies done by streaming service has made Nigerians accept and use these services.
Could Streaming Services Possibly be Better than Conventional Media in Nigeria?
The question one may ask is, why are consumers subscribing and actively using streaming services? A few reasons include;
a.) Consumer freedom: Consumers can choose what they want and return to their favorite playlist or watchlist. Cable TV and Radio limits this function as the contents shown are not within the control of the consumer.
b.) Simplicity: There’s no complexity involved with its functions and these platforms update their products to better suit consumers.
c.) Versatility: Consumers have access to streaming services wherever they are while using a wide range of devices – mobile phones, laptops, tablets, and TV.
d.) Data and Algorithm: Streaming services are designed to store data and operate algorithms that are useful in making relevant recommendations based on previous preferences.
e.) Quality Content: Streaming services provide a vast range of quality & original content which consumers can choose from.
f.) Measurable: When compared to conventional media, streaming services have data on the number of views/plays and also monthly active users.
g.) Absence of Ads: The interruption of Ads can be annoying on conventional media. Streaming platforms enable users to view/play without the inclusion of Ads. Although some platforms run freemium service -free & premium- users have the option of upgrading to premium service for uninterrupted streams.
h.) Lower prices: Streaming platforms encourage users to use their platform with subsidized charges. Viewers are at liberty to join a family plan, monthly or annual subscription plan. Both annual and family plans are intended to subsidize the cost for users.
