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A New Way of Life, Streaming Life
  • 공진영 수습기자
  • 등록 2020-06-08 08:45:09
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“Streaming life” was selected as one of teenagers’ top key terms by the Center for Analysis of Consumption Trends at Seoul National University in 2020. This term is a combination of streaming and life. Streaming refers to playing music or watching video files in real time on a connection to the Internet without downloading them to a mobile phone or computer. Streaming life is a coinage that refers to a person who regards the consumption of streamed content as being more important than having possessions like homes, cars, furniture, and soon. The Pharos wanted to learn about the streaming life and talk about how the economic consequences of the streaming life might affect people’s future lives.

  As economist Jeremy Rifkin predicted in his book “The Age of Access,” the period of access and utilization has come to describe our lives in a way that the period of “possession,” once did. In the streaming life, experiencing a variety of things is much more important than having one’s own materials. Therefore, the streaming life entails a new definition of the richness of life. This is useful for modern consumers who want to experience multiple products in the short term rather than for consumers who value the concept of ownership. This is why the streaming life is also called a subscription economy. A subscription economy is an economic paradigm in which one pays monthly subscription fees and receives necessary goods or services such as newspapers. It allows consumers to get recommendations for goods and services according to their own preferences. This economic paradigm has the advantage by allowing consumers to experience a variety of things, and it allows them to find their own personal tastes and access the services they need whenever they want them. The streaming life is positive not only in personal areas but also in the social dimension. This is because the subscription economy has the great advantage of providing convenience to consumers and bringing stable profits to businesses. Individuals can not only use the kinds of services they want more conveniently but also more cheaply. Therefore the streaming life seems to fit the trend of modern society, which is more economical and changes faster than the proprietary economy.

  The most representative example of the streaming life is Netflix. Netflix is an online video streaming service that allows users to enjoy video content such as movies and TV programs at their convenience for as little as $7.99 a month. It is the world’s largest business. It was started by Reed Hastings in the U.S. and now has 57 million paid subscribers. Before Netflix appeared, people had to buy DVDs or CDs to watch movies or dramas. However, since the debut of Netflix, it has become easier to watch videos without having to buy DVDs or CDs or download them. Another example is Hyundai Motor’s “Hyundai Selection.” For 720,000 won a month, the program allows users to use a Sonata, Tucson or Veloster without restrictions on driving distance, and the cars can be replaced at least twice a month. By being offered a variety of models, users have a wider range of choices and not necessarily have to stick to just one car. It was an eventtype business that was temporarily operated. Though it was somewhat rigid, it generated a huge response from many consumers because it attempted an innovation in the automotive industry.

  However, problems that did not exist in the previous proprietary economy are sometimes caused by the subscription economy or the streaming life. First, consumers can have difficulty taming the habit of using things they don’t own. Based on this tendency, consumers sometimes do not respect other people’s copyrights or possessions and they use them when they shouldn’t. However, this is illegal and also a betrayal of ethics that destabilizes the subscription economy, a means of making our lives more comfortable. Therefore, anyone reproducing or distributing things illegally without the owner’s permission by taking for granted the right of sharing without possession should be careful. Next, parts of a product may be damaged in the case of items that can be rented for a certain period of time. For example, if the product rented was a piece of equipment, the service would be difficult to sustain if the consumer who rented it did not follow the rules proposed by the service provider for using the streaming equipment. In a proprietary economy, after-care is up to consumers when they buy products; however, in a subscription economy, the service provider must continue to maintain the equipment and consumers should behave responsibly while they are using the service. The principle that rented goods should not be damaged must be honored because they must be provided to other consumers. Consumers who are accustomed to the traditional proprietary economy may not be familiar with the new responsibilities of the streaming life. However, the essential legal and ethical implications of the streaming life should not be neglected.

The streaming life creates a convenient way of life that is different from the fixed life of the past. It allows you to have a variety of experiences for relatively little money, even though you can only use the goods temporarily. It is also important for these companies to manage the quality of their products, not just rental businesses. Therefore streamed products must be intact when they are returned. Also, streaming service providers should prepare appropriate manuals and principles. Understandably, product management also requires mature behavior by service users. Let’s look forward to what kinds of consumption trends and further changes in our society this subscription economy will lead to in the future.

74th Cub ReporterGONG JINYOUNGwlsdud03520@naver.com

74th Cub ReporterYOO HYUNGJINyoo9428@naver.com

 

 

 

 

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