An Overview of the Streaming Industry

In recent years, the film and television industries have been completely transformed by the development of streaming platforms. These on-demand online entertainment providers consist of original programming and legacy content.

YouTube was the first popular video-streaming website, though modern streaming platforms were pioneered by Netflix, which debuted its video-on-demand services in 2007. The streaming industry has rapidly expanded to the point that streaming residuals have played a key in several of the most recent Writers Guild of America and Screen Actors Guild strikes.

The overall prevalence of streaming culture cannot be overstated in today’s entertainment industry. The average American engages with digital media for upwards of 13 hours every day. Nearly 4 out of 5 households are subscribed to at least one platform. The Motion Picture Association reported that global streaming subscriptions exceeded 1.1 billion in 2020.

Founded in 1998, Netflix has the largest global membership among all streamers, with approximately 238.5 million subscribers as of June 2023. The company began as a direct-to-consumer mail-order DVD service, a business they continued to operate until 2023. The competitive and mercurial nature of the developing streaming landscape is evidenced by the fact that Netflix remains the only profitable platform. The streamer posted $12.44 billion in profits in 2022, a .66 percent increase over 2021.

Amazon Prime does not share official subscriber numbers, but estimates are around 200 million. The streaming platform’s membership is driven by the many additional benefits associated with Prime, including discounts and expedited shipping times on Amazon orders. Amazon’s resources have also allowed Prime to produce some of the most expensive streaming content in film and television history. The Lord of the Rings: Rings of Power is the most expensive television program ever produced. At $58 million per episode, the series carried a total production cost of $465 million. By comparison, Peter Jackson’s Lord of the Rings trilogy of films cost a combined $281 million.

Disney+ is the third most used streaming platform globally, with over 146 million subscribers. Disney controls some of the most valuable intellectual property in entertainment, including an extensive library of classic family films and movies from Pixar Studios, the Marvel Cinematic Universe, and the Star Wars franchise. Even so, the platform has cost the studio over $11 billion since its launch in 2019.

With approximately 124 million subscribers, Tencent Video is the fourth most streamed platform worldwide. iQIYI is the only other streaming platform with a subscriber base exceeding 100 million users, at 106 million. Other notable streaming platforms include Max, Paramount+, Hulu, and Apple TV. The streaming data service provider FlixPatrol maintains statistics for over 80 unique streaming platforms, some with subscriber bases numbering fewer than 200,000 users.

The future of streaming services is unclear. Viewers can expect unskippable commercials, higher prices, and less original content as companies search for profitability. That said, it is unlikely that streaming will disappear, as it exists as a popular form of entertainment beyond film and television. For example, 82 million Americans pay an average of $10 monthly for digital music, while the video game streaming industry generates $9.3 billion annually.

Promoting Cultural Diversity and Inclusion in the Media

 Cultural diversity encompasses differences in race, ethnicity, nationality, religion, language, customs, traditions, and other cultural aspects within a society or group. It recognizes and values the unique perspectives and contributions each cultural background brings to a community.

While traditional cultural practices may sometimes be seen as the norm, cultural inclusion prioritizes actively embracing inclusivity by involving individuals from diverse backgrounds, showing them respect, and granting them a seat at the decision-making table, so they feel valued and at ease. The objective is not merely to represent, but also to establish an environment where individuals from various cultures feel recognized and heard, and can contribute fully without any obstacles or biases.

Encouraging cultural inclusivity also fosters tolerance, empathy, and mutual understanding among individuals from different backgrounds, facilitating peaceful coexistence and collaboration. Embracing cultural diversity is essential in a world where cross-cultural communication and cooperation are vital for addressing global challenges and nurturing social harmony.

Cultural diversity and inclusivity are of paramount significance. It fuels innovation, creativity, and knowledge that transcends boundaries. A more just and authentic media landscape can only be achieved by prioritizing cultural diversity and inclusion. This statement emphasizes the essential duty that media assumes in directing public opinion, establishing social norms, and ultimately, ensuring a society that is more just and better represents the people.

Advocacy for diversity, equity, and inclusion in the media and entertainment industry plays a pivotal role. Supporting initiatives and projects that advance inclusive knowledge and representation within the media industry contributes to systemic change. Collaborating with like-minded organizations amplifies the impact of such efforts.

Advocates of cultural diversity should begin by defining their goals and values when using either mainstream or social media platforms. Establishing well-defined objectives provides a clear direction. It not only ensures that media content aligns with the set mission, but also helps the targeted audience understand the purpose and significance of their initiatives.

It is advisable for individuals and organizations alike to systematically assess their current media presence to advance these goals effectively. This assessment is crucial for identifying specific areas where diversity and inclusion can be improved.

It encompasses a thorough review of existing content, audience engagement strategies, and the representation of diverse voices. Insights gained from this evaluation guide the formulation of targeted improvement strategies.

Central to the efforts of mass media personnel is the active creation and curation of content that showcases cultural diversity. Enriching media content with a diverse range of voices and narratives is instrumental in making it more inclusive and representative.

For instance, a TV series with characters from diverse racial, ethnic, and cultural backgrounds is likely to have a high level of social impact. Such an embrace of cultural diversity goes beyond entertainment. It reflects the real-world richness of diverse communities, as each character symbolizes a thread in the tapestry of the global society. The importance of inclusivity in such a show lies in how it allows viewers from different backgrounds to see people like themselves on screen. Portraying diverse personas also invites others to empathize with characters who are different from them. The consequence of such a show is how it acknowledges and celebrates globally shared humanity.

Furthermore, leveraging their media platforms to educate their audience about the importance of diversity and inclusion is a critical step for those in charge, as it goes beyond mere entertainment. Sharing informative resources and stories that are culturally inclusive serves to cultivate empathy, encouraging the audience to appreciate diversity.

Acknowledging that diverse representation in media helps normalize diversity and reduce prejudice and discrimination emphasizes the media's influential role in shaping societal perceptions. The portrayal of diverse characters and stories in media content serves as a strong catalyst for promoting authentic and equitable representations. Media can effectively showcase a broader range of human experiences and perspectives, driving positive change.