Netflix Decline? 04-23-2022, 09:03 PM
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@Oni previously mentioned Netflix taking a serious, and potentially unrecoverable hit on his thread about Amazon acquiring MGM.
Netflix's rivals are growing more numerous, and are spending more money to compete. Based on Netflix's share prices and subscriber numbers, it looks as though it could be working.
Of course, we are early into the year, and the world is still trying to recover from Covid, and other major events like the war in Ukraine. So how we measure the latest quarters performance for Netflix should take this into consideration.
However, it does look like Netflix need to alter their business model, or make a big purchase (to compete with Marvel/MGM purchases by their competitors).
Code:
Netflix was the first to introduce households to TV-on-tap in 2007, entering popular culture with its avalanche of output, and even spawning the phrase "Netflix and chill" as a euphemism for staying in to have sex. But since then many other streaming services have followed Netflix's lead, including HBO, Disney, Apple and Amazon, making it an increasingly crowded market.
"What made Netflix so popular initially was not necessarily its original programming, but the shows it licensed from other production companies, like Friends, giving viewers one convenient place to watch everything they love," says entertainment journalist Tufayel Ahmed.
"With companies now taking their shows off the service and putting them on their own streaming platforms, Netflix faces the problem of having to fill the gap."
They've done that, launching some hugely successful original output, from the lurid regency romp Bridgerton to the brutal Squid Game, high school comedy Sex Education to the touching drama Afterlife. Sixteen million people signed up in three months at the start of 2020 as coronavirus spread the world and discussing the dubious morality of Tiger King or the historical accuracy of The Crown was a way to switch off from the horror show of the news.
But with so many rivals, "all of which are pouring hundreds of millions of dollars into competing with Netflix", says Mr Ahmed, it was almost inevitable the company would eventually lose some ground.On a personal level, I still really like Netflix. I'll be using the service for years to come. However, where it used to be my go-to, #1 stop for streaming, it's now falling down to 2nd or 3rd place, with other services providing me with more consistent content. Netflix cancels shows as quick as it produces them, and I'm just not willing to get involved in a platform that has a high chance of cancelling yet another show I've gotten very invested in. In all, there's at least 9 shows I've enjoyed that have been cancelled. I do not have this issue on any other platform.
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I'm really reconsidering keeping it since I barely use it nowadays.
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