We all were hearing about streaming media for years but the technology just wasn’t good enough. Remember buffering? Our kids will know no such word. Technology is finally good enough to stream media and now it’s all the rage online. If you haven’t seen the crazy growth in streaming media over the past few years then you’ve been living under a rock. Netflix, Hulu, ESPN, HBO, Amazon and countless others have seen their streaming growth go through the roof. The experience is so good that many consumers are beginning to drop their cable providers to shed some bloated monthly bills for the economically priced streaming options like HuluPlus and Netflix. I have to admit if it wasn’t for live sports on television, I think I would have converted already.
In terms of the growth of steaming media, check out these 2 crazy facts:
- Hulu just announced they already have over 1.5 million subscribers for their pay product, HuluPlus and generated $420 million in revenue last year.
- Netflix movie and TV show streaming accounts for 22 percent of all North American Internet traffic.
- ESPN streamed over 4,000 sporting events in 2011.
The growth is crazy and it’s just a matter of time before the cable providers adapt and begin changing their pricing/strategy. All the better for us consumers…