With increased number of users preferring to consume various kinds of content at their convenience, OTT platforms like Netflix and Prime Video have managed to capture the majority of the market share with their impressive features. Netflix and Prime Video are two top contenders in the OTT space and offer different value propositions. Netflix has been an old player that thrives to stream engaging content with a fair share of original releases. It is house to some highly budgeted shows and movies.
For years, it didn’t introduce AVOD (paid with ads video on demand) or FVOD (free with ads video on demand) as it’s core vision was to make users feel they have exclusive access to high quality content. Neither did it partner with any other platforms to stream their content on their own. Prime Video, on the other hand, was launched by Amazon as part of it’s ‘Prime’ benefits combination and expanded exponentially to become a strong competitor in the industry. The company offers a combination of benefits like one-day shipping, Music, Kindle access as a part of its strategy to capture customer loyalty and market share. Due to this, users often feel they get more value for the one time fee they pay for the Prime Membership.
Amazon also started to partner with other platforms like HBO Max, freevee to stream their content on its platform which the users can subscribe to either with a payment or with their details. To attract new market segments, they also started streaming live sport games for free. When considering the user experience, users often appreciate Netflix for it’s AI powered recommendations and clean designs which is a superior differentiating factor. Today, Netflix is stated to have the largest movie library with 100000 shows and Amazon has about 40,000. When comparing the pricing, Amazon offers a bundle of benefits for $99 per year at maximum and Netflix’s plan is worth $144 per year.
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