Streaming services disrupt the media industry and job market
If you’re a red carpet addict with a love for cinema and television like me, you probably tuned into the Golden Globes on last week, and you may be counting down the days until the Oscar nominees are announced.
If you’re a red carpet addict with a love for cinema and television like me, you probably tuned into the Golden Globes on last week, and you may be counting down the days until the Oscar nominees are announced. Every year my family scrambles to watch as many TV series and movies nominated for these awards, taking our brackets as seriously as some take Fantasy Football.
Recently, streaming services have become such powerful media players that they have grown into award-winning production studios seemingly overnight. For the first time this year, streaming services took home the most Golden Globe awards, beating out cable and network TV. As traditional cable TV providers and movie theaters scramble to keep their audiences, Hulu, Netflix and Amazon Prime are redefining the film industry. Do their employment trends reflect this change?
It depends. We dug into the data and looked at two of the biggest companies in the independent streaming services category: Netflix and Hulu. Netflix data shows a lot of studio/production jobs currently, while oddly enough Hulu does not have any. What’s more, while Netflix jobs appear to be on a steep incline, it appears that Hulu’s jobs are in decline since Q3 2017.
Why the stark contrast?
This could be because Hulu is 30 percent owned by 21st Century Fox (though Fox is about to sell its share to Disney), 30 percent owned by Comcast, 30 percent owned by Disney currently, and 10 percent owned by Time Warner. Hulu’s original series are most likely produced by these stakeholder companies and affiliates exclusively. Netflix also co-produces much of its original material, but at the company’s completely in-house Netflix Studios. This, we conclude, could account for the growth in Netflix and the decline of new job listings at Hulu.
If you’re a filmmaker looking for work, Netflix is probably the best place to begin your search, but that certainly doesn’t mean Hulu or other streaming services are down and out. Regardless of which companies bring home the trophies this year, it’s clear that streamers are here to compete, and here to stay.
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