Will we soon see the end of individual purchases in entertainment?

By SWL Reporters
August 20 2020, 12.30

Over the last few years, the entertainment industry has seen a significant alteration in consumer purchasing habits.

While, in the past, prospective shoppers would selectively buy a single item or service, that’s continually looking like an outdated style within contemporary society.

So, let’s take a look at whether the end is imminent for individual purchases within the entertainment sector.

What does gaming tell us about the shifting trend?

Much like streaming services, gaming platforms have also adopted a subscription-style approach throughout the last decade and that includes the iGaming sector.

Upon registering and setting down an initial deposit, prospective players get access to extensive games libraries at some of the most popular operators listed at Casino Horse, such as bet365, Casumo, Ladbrokes, and many more.

Unlike with individual entertainment purchases, platforms such as these are providing a more varied, all-inclusive experience across diverse markets and titles.

As a result of the beneficial nature of this strategy, both PlayStation and Xbox have expanded their consumer-focused offerings.

In light of the shifting spending habits, both Microsoft and Sony introduced their own monthly service in the form of Xbox Live Gold and PS Plus, respectively.

At the time of writing, a 12-month membership for PlayStation Plus costs £49.99.

For just over £4 a month, this gives gamers access to a whole host of additional perks, including the ability to download 24 hand-picked titles a year at no extra cost.

In comparison, this could save active users a significant amount of money, with new video games typically costing £46, as per Business Insider.

TV and film streaming services led the way

Since becoming a $100 billion company, Netflix have gone from strength to strength on a global level.

Aside from the organisation’s value, this is evident from the decline of in-house rental establishments, such as Blockbuster.

Within entertainment, this rise and fall is something of a microcosm of broader consumer habits.

For a basic fee of £5.99, those with a Netflix subscription can watch unlimited movies and TV shows.

Importantly, this could prove to be more cost-effective than one-off payments for those who regularly immerse themselves in cinematic productions.

Source: Unsplash

Interestingly, despite the belief that individual purchases are rapidly becoming a thing of the past, popular streaming services aren’t ignoring their financial advantages.

This is most evident from Amazon Prime. Although users can access an extensive library of movies and shows for a monthly fee, the choice is somewhat restricted.

In staying true to the one-off payment style of the past, the streaming service offers numerous individual purchases on specific developments.

From a business perspective, this allows for the best of both worlds.

In addition to supplying an all-inclusive service, emphasis is still placed on encouraging individual payments.

Although this is less common now than in prior years, this retention is indicative of the fact that there’s still a place for one-off buys.

Will this dominance continue?

Although nothing is guaranteed in the ever-growing world of entertainment, it appears likely that subscription-based services will continue to be at the forefront of the market.

Despite the fact that Amazon Prime still features one-off, individual purchases, the core of the platform revolves around providing a varied service for a set monthly fee.

As a result, few can argue against the fact that this dominance looks set to remain throughout the upcoming decade.

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