Before video streaming platforms like Netflix, Hulu, and Amazon became mainstream, it used to be a handful of channels that TV watchers could rely on, with BBC being one of them. However it appears that the company hasn’t done enough to keep up with modern alternatives, so much so that they have expressed their concern about being squeezed out by the competition.
According to BBC’s second annual report, the company’s chairman Sir David Clementi claims that they are being assailed from all angles from a variety of companies, such as Netflix, Amazon, Sky, Virgin, Spotify, and Apple Music, as customers are starting to cut the cord and opt for more modern all-you-can-watch alternatives.
As a result this has raised the bar for the demand of quality original content, which in turn means a higher cost. It is due to this that Clementi feels that there is a “risk of the BBC being squeezed out of an ever more competitive global market.” However this doesn’t mean that the company will be sitting on their hands.
BBC director general Tony Hall says that in response to these changes and challenges, the company will be reinventing itself and increase their efforts in their online video and iPlayer application. This will focus on personalization, UX improvements, and more content. Whether or not the company will succeed remains to be seen, but there are huge challenges ahead, such as Disney’s upcoming streaming service and the company’s impending acquisition of Fox, which we imagine could possibly be folded into the streaming service as well.