Can BitTorrent beat Netflix in digital content arena?
Should Netflix be worried about the progress of BitTorrent?! Netflix, one among the moguls of the digital content arena, has had an exceptional rise looking at its performance charts. The platform’s major business is to provide subscription-based content to viewers globally. Reportedly, it has close to 140 million paid subscription from around the world as of January 2019.
BitTorrent, on the other hand, is peer to peer [P2P] file sharing system. File sharing involves uploading and downloading a part of a file over a peer to peer network. Reportedly, file sharing accounts for 3% of downloading and 22% of all the upload traffic. BitTorrent boasts 97% of the file-sharing traffic.
The acquisition of BitTorrent by Tron, the cryptocurrency company, gave the file-sharing company an upper hand. BitTorrent in collaboration with Tron announced the launch of BitTorrent Speed, a new blockchain application for faster upload and downloads of files. The application is supported by its native token BTT which can be shared between users.
“With BitTorrent Speed, the BitTorrent protocol client will be able to receive tokens for “seeding” files for longer periods. With tokenized incentivization for seeding files, download speeds on peer-to-peer networks can get faster and become more readily available,” according to a press release.
BitTorrent is also planning to introduce a live streaming feature in 2019. This live streaming feature can prove to be a tough competitor for media biggies like Netflix and YouTube.
Google of digital content platforms
Netflix and BitTorrent will be vying to become the Google of digital content platforms in 2019. The latter’s new features, though a work in progress, has gained much popularity. Also, it will soon offer file sharing and live streaming on the same platform which will increase its global outreach. Coupled with the feature of earning BTT tokens the platform has the potential to overpower Netflix.
In 2018, reports surfaced proclaiming that once dwindling BitTorrent traffic was on the rise again. This was because people simply didn’t want to add entertainment subscription fees to their list of expenses. Therefore, frustrated by subscription rates the mass audience turned to free services including uTorrent. If people start favoring P2P services media service providers including Netflix and Amazon will witness a dip in their market share.
Currently, Netflix possesses the lion’s share of downstream traffic in the market, almost 15%. However, with the new features available on the BitTorrent website coupled with the fact that its build on blockchain which enables faster downloads and improved performance, it is highly likely that the P2P sharing website will replace Netflix in the digital content sharing market.
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