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Anyone you ask could probably tell you: There are far too many streaming services out there. We learned that the hard way when we created our list of 200+ streaming services. Previously, the biggest challenge in making the list was keeping up with the services were being added. After 2021, however, it seems we’re in a contraction period.
Over a dozen services disappeared in 2022
Yes, that’s right. We ended up removing 12 streaming services from our this year. And when we update our list again, we wouldn’t be surprised if we were forced to remove more, too.
The streaming service market reached a point of oversaturation right before the pandemic hit. In a 2019 interview wtih Best Company, we also mentioned this is causing a problem of overchoice (or choice overload), where people have so many options they tend not to pick any or as many as they might if they had fewer options.
The pandemic was the trigger necessary to send the streaming market into the correction it needed.
Most services that closed were small
This one’s obvious, but it’s worth noting. The large services are doing fine. And in fact, oversaturation presented a buyers’ market for some of the bigger streaming service providers. So not every service that disappeared in 2021 was gone for good. Many simply got bought and were absorbed into other service providers.
For example, FilmStruck is now simply part of Turner Classic Movies and FandangoNOW is now part of Vudu. Others were merged into other services owned by the company that made them, such as NBC Sports Gold (now the sports section in Peacock) and CW Seed, which was merged into the regular CW site.
Still, some are gone completely. That’s the case with Tribeca Shortlist, which originally launched in 2015. Users are now greeted with a redirect to the Lionsgate website but have no streaming options.
Expect more mergers in 2022
Although 2021 was a major year for consolidation in the streaming market, that contraction probably isn’t over yet. And it’s going to impact more industries than just streaming. That’s certainly something video game players are feeling right now.
Sam Cook is a full-time content strategist by day, a part-time freelance content writer since 2015. In another life, he was a high school English teacher for nearly a decade. Based in sunny New Orleans, he writes long-form educational content on technology, including Insurtech, Fintech, HRtech, and content streaming. He loves whittling down complex ideas within these areas that make decisions easier for buyers. When he’s not reading books with his son Miles and playing video games with the family, you can find him immersed in his growing collection of Euro-style board games.