The onslaught of COVID-19 has led to lockdowns all over the world. This has forced people to find indoor alternatives for leisure, with streaming platforms enjoying a surge in viewership.
According to a report by KPMG, the increase will not just be limited to this period. The platforms will have a bigger audience after the lockdown than they did before it.
While outdoor consumption models such as movie theatres, concerts and amusement parks are set to be hurt by the after-effects as well, it’s not quite the same for streaming.
The report suggests that surge in time spent on platforms and newer audiences will result in habit formation, which will form a higher normal when the situation comes under control.
On the other hand, movie theatres could experience less footfall due to the fear in audiences for months after lockdown.
There’s also the possibility that a large number of the audience shifts from mobile viewing to streaming shows and films on their television instead.