Last year 1.1B users accessed an on demand video service. 150 Million people subscribe to Netflix and it’s projected by 2024 that the industry will be worth 30.4B. But where did it all begin?
Here is a brief history of video streaming:
1991– Windows releases Media Player and Apple launched it’s Quick Time Player, both read and play audio and video files.
1996 – FutureSplash Animator, the precursor to Adobe Flash, opens the door for web animation and eventually video.
1997 – Netflix begins its DVD rental website while most of the US rents from brick and mortar stores like Blockbuster.
2002 – Netflix IPOs for $15 a share with 600,000 subscribers.
2005 – YouTube launches and online video streaming begins. Amazon also released what would become Prime Video.
2006 – Google acquired YouTube for $1.65 Billion
2007 – Netflix Watch Now debuts. Hulu is also founded this year
2010 – Blockbuster files for bankruptcy. Netflix and vending machines for DVDs are cited a contributing factors.
2013 – Netflix wins Primetime Emmy with House of Cards, a first for a streaming platform.
2015 – HBO Now launches and doesn’t require a cable subsciption.
2017 – Hulu wins best series for Handmaid’s Tale, a first for a streaming platform. Netflix also hits 100M subscribers.
2019 – Disney buys Hulu and launches Disney+. Apple launches AppleTV+, WarnerMedia announces HBO Max and NBC Universal announces Peacock.
It’s clear that the streaming wars are going to be in full force in 2020, but this is really just a history of the US. In other geographies streaming services have already taken hold. Check out our article on what the global landscape looks like. The US might be the biggest and most influential player globally, but local markets are fighting back.