Online streaming continues to grow surpassing mile stone after mile stone
The growth of US online streaming services like Netflix, with a service that reaches more than 80 million users in over 200 countries and Hulu is overtaking traditional cable by a wide margin, according to the latest study conducted by leading research groups.
But for the first time in 2016 the music industry received majority of its income from streaming, reaching 51 percent.With many major artists signing contracts to get the best exposure and some starting their own services or partnering with the larger players.
The US revenue for video streaming services like Netflix and Hulu grew by 29% to $5.1 billion in 2015, while the US streaming industry in 2015 was a fraction of its cable, satellite, and telco TV counterpart (with revenues of $105 billion), that sector grew by just 3% in 2015.
In 2015 the industry saw a huge growth of new players in the industry, from app on your phone allowing IP TV station, charging a subscription base system to access the more films and TV series.
All this increase in streaming has put Netflix in a privileged position, where they have enough money to buy whatever movie and TV projects it chooses. Netflix has a market capital in the region of $60 billion putting it head to head with media and entertainment giants like 21st Century Fox and Time Warner.