Amazon and Netflix, both their video streaming services have won Hollywood's biggest award, the Oscar. Here's how they are defining the future of video.
The future of movies, are streaming on a screen near you. Technology companies have made their debut in Hollywood, and how. Amazon and Netflix, both their video streaming services have won Hollywood’s biggest award, the Oscar. Both Amazon and Netflix are now well-known video streaming platforms and their shows and movies are hugely popular. Amazon Studios got two awards for the movie, Manchester by the Sea. The best actor trophy went for Casey Affleck as well as the best original screenplay. Meanwhile, Netflix’s 40-minute documentary, ‘The White Helmets’ on the rescue workers in Syria, won in the short subject category. Additionally, Amazon also triumphed in the best foreign language film for Iranian drama ‘The Salesman’. It had distributed the film in the US and Canada. With 4 Oscars in their kitty, Amazon and Netflix are really pioneering the revolution of video in the world.
With the advent of video streaming services, and lately the introduction of VR in videos, the market it truly undergoing a metamorphosis. The broadband-based television ecosystem is slowly and steadily changing the way we view cinema. Netflix, which begun as a small DVD-by-post business based in California, is now a giant a global television network changing home and theatre viewing one step at a time. Within a year it has expanded from 60 countries to more than 190, scoring almost 90 million subscribers. Together with Amazon, Netflix has used innovations to change how consumers watch TV. The lack of advertisements, on demand services and globally relevant programs, have made users shift from the broadcast system of watching moving images. They have ushered in an era of binge-watching by employing algorithm technology to systematically predict what the user would want to watch. It is hard to believe that almost half the internet traffic in developed countries, according to various data sources, come from video streaming sites, mainly because this is a technology which is not even a decade old.
Meanwhile, another small entertainment company A24, won the biggest award of the night when Moonlight received the Oscar for best motion picture. Apart from the fact that it won the Oscar, the reality that a film with a gay black youth coming to terms with his sexuality in an impoverished Miami neighbourhood, made with a very small budget won, in itself is a big deal and goes on to show that the viewing habits are rapidly changing. This also means that video streaming sites will continue taking risks in movies like these, opening the world to a wider variety of content. They can also use these awards now, to market and advertise their content which will take viewership up many notches.
Netflix and Amazon have reshaped the future of television as it has changes how broadcast used to function. With a varied amount of content and not just catering to the lowest common denominator, they have proven that there is a possibility to sustain in this way too. Ther main reason being, there are no boundaries of time or satellite channels. Similarly, with new technology like LTE streaming and virtual reality coming up, it’s not far that cable and satellite days will see an end. There is a trend of more personal and immersive viewing and that will dictate how technology companies will make you watch movies in the decades to come.