- Worldwide pandemic spurs growth in VOD space
- New numbers show millions leaving pay TV behind
- MVES pioneering new media-content delivery systems, creating direct-server access platform
The numbers are in, and not surprisingly, COVID-19 has prompted a growing number of entertainment seekers to cut the cord. A recent Protocol article (http://nnw.fm/6FFyR) reports that cable and TV subscribers are down, a trend that promises benefits for companies such as The Movie Studio (OTC: MVES), a vertically integrated motion picture production and distribution company.
“Shelter-in-place boredom hasn’t stopped consumers from canceling cable,” the article reported. “Cord cutting has accelerated during the COVID-19 pandemic. That’s according to new data from the nation’s major cable and satellite TV providers. Comcast, AT&T, Dish, Charter and Verizon collectively lost 1.46 million pay TV subscribers during the second quarter, compared to 1.22 million subscribers during the same quarter last year.
“Cord cutting has been on an upward trajectory over several quarters,” the article continued. “In 2019, more than twice as many consumers canceled their pay TV subscription than during the prior year. The latest numbers indicate that 2020 will be even worse. During the first half of the year, the five big pay TV providers lost a collective 3.45 million subscribers. Over the first six months of 2019, 2.42 million consumers cut the cord.”
Of course, those cord cutters haven’t stopped watching the screen. Cable TV’s loss is Video on Demand’s (“VOD”) gain, the article observed. Specifically, “Netflix added 10 million new subscribers in Q2 alone, including close to 3 million in North America. Disney+ added 24 million paying subscribers worldwide during the quarter.”
Netflix and Disney+ are big players in the VOD space, but a growing number of smaller companies are making a move in the growing sector, and The Movie Studio is leading the charge. MVES is committed to acquiring, developing, producing and distributing independent motion picture content for worldwide consumption via subscription and advertiser video on demand (SVOD/AVOD), over the top (“OTT”) platforms, foreign sales and various media devices.
With that strategy in mind, The Movie Studio is establishing a proprietary OTT VOD platform to distribute both its own and aggregated feature film projects, television programming and other media intellectual properties. In addition, the company is pioneering new media content delivery systems with its digital business model of motion picture distribution as well as its plans to create a direct-server access platform of its content for worldwide distribution.
This focus may be well worth the effort as The Movie Studio strengthens its position in a space with billion-dollar potential. A Mordor Intelligence report notes that the Video on Demand market was valued at $56.55 billion in 2019, with projected growth to reach $120.91 billion by 2025, at a CAGR of 13.5% during that same period (http://nnw.fm/HRbDb). The upward trajectory — both in cord cutting and forecast growth — bodes well for MVES, a company intent on disrupting the traditional entertainment and media sector.
For more information about the company, visit www.TheMovieStudio.com.
NOTE TO INVESTORS: The latest news and updates relating to MVES are available in the company’s newsroom at http://nnw.fm/MVES
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