More and more viewers are opting to ditch their traditional TV packages for streaming sites, and Netflix is far ahead of its peers when it comes to making high-quality original shows and movies.
This leaves an opening for streaming services like Netflix, Hulu, and Amazon Prime Video. And they are going for it.
The three have generated a lot of buzz with their critically acclaimed original series like “Stranger Things” (Netflix), “Transparent” (Amazon), and “The Handmaid’s Tale” (Hulu) — all have been nominated for Emmys.
But which service has the best shows?
The startup LendEDU recently commissioned a poll of 820 millennials to see which streaming site they considered to have the best original content.
And Netflix won by a landslide — 79% percent of those polled said they preferred the streaming service’s original content. “Premium channels,” such as HBO or Showtime, came in at 14%, while Amazon and Hulu got 3% and 4%, respectively.
One likely reason Netflix came out ahead is that its programming budget is gargantuan. Netflix is expected to spend $7 billion on programming next year and $6 billion this year.
And original content is key.
Netflix’s chief financial officer, David Wells, announced last year that Netflix was pushing to make 50% of its offering original content over the next couple of years, according to Variety.
Why? Earlier this year, Netflix’s content boss said originals were roughly as efficient per dollar as licensed programming, in addition to burnishing Netflix’s brand name. And with companies like Disney rethinking their relationships with Netflix, the scale could continue to tip further toward originals.
The big question will be whether competitors like Amazon, which JPMorgan estimated would spend about $4.5 billion on video this year, will catch up in the eyes of viewers — especially millennials.