Week in Review - Are the streaming wars over?

Saturday, May 23, 2020 • By Lucas Matney

Hey everybody, welcome back to Week in Review. Last week, I wrote about how Twitter could be leading the way towards employers ditching city office space, this week I’m taking a look at whether a new streaming networks can win on anything other than sourcing hits.

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The big story

This week, Bloomberg reported that Apple might be rethinking their overall strategy for original content with their Apple TV+ service, opting to entice not only with a swath of new and original programming, but by competing with other streaming networks to bid on rights for back catalogs.

It’s a bit of a departure from what they launched with, as I noted back when the service debuted, the amount of content was lacking and it put much more pressure on finding a hit among the first slew of new releases — something that didn’t quite happen.

Streaming networks are plunking down historic sums on series like Seinfeld, Friends and The Big Bang Theory. The buyers have differed throughout these deals, but they have never been Apple.

That's because Apple isn't bidding on history, they're trying to nab directors and actors creating the series that will be the next hits. And while that sounds very Apple, it also sounds like a product that's an awfully big gamble to the average consumer looking to try out a new streaming service. Why pick the service that's starting from a standstill?

It’s interesting because with Apple having to walk back what seemed to be a purposeful strategy move (that flew in the face of other networks) and Quibi failing to make an initial dent with the launch of their more severe revamp of the mobile video streaming network, it’s worth positing whether there’s room for a startup or upstart service to take down what Disney (through both Disney+ and Hulu), HBO and Netflix have built up.

If the only advance that matters is finding a string of hit show and an audience that enjoys them, is there any advantage to newcomers coming on the scene with format changes or is the format for streaming networks fully decided at this point?

Paper processes are slowing you down

Trends of the week

Spotify basically acquires Joe Rogan
Spotify made a huge move in the podcasting world this week, announcing they would soon be scoring exclusive access to The Joe Rogan Experience including its extensive back library. The deal has been reported to be worth north of $100 million and Spotify’s share price jumped on the news. Read more here.

Twitter is testing out a new feature to limit replies
For Twitter users sick of the unrelenting abuse of anonymous trolls, you may be interested in the company’s latest feature test. This week, Twitter rolled out a feature that lets tweeters limit who is able to reply to specific tweets they send. Read more here.

Magic Leap finds a lifeline
Magic Leap’s recent struggles have been well-publicized. The once high-flying augmented reality company has been on the verge of collapse, being forced to layoff half of the company and bracing for more cuts. The company informed employees this week that investors had given them $350 million to sort through the mess and find an escape route. Read more about it here.

Image Credits: Getty Images

COVID-19 advances

Image Credits: Bryce Durbin/TechCrunch

Extra Crunch

Investors and entrepreneurs are shifting their chats to Zoom, so we're taking note and hosting live Q&A discussions for our Extra Crunch subscribers with some of tech's most visible figures. We'll be hosting these Extra Crunch live chats over the next several weeks.

Announcing the Extra Crunch Live event series

This upcoming week, we'll be talking with Hans Vestberg of Verizon
Tuesday, May 26 at 11:00am PT / 2:00pm ET

Hans Vestberg is the chief executive of Verizon, the biggest wireless carrier in the country. The company (which owns TechCrunch) is providing critical infrastructure during the pandemic while also in the midst of a massive 5G network push. We'll talk about how business has changed in the COVID-19 era, if his investment focus has changed, and his advice for other business leaders as we move into a new normal.