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Netflix’s stumbles prompt rivals to rethink the streaming business: ‘You have to be able to sell your shows’

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While streaming may not be the shiniest object on the stock market anymore, there is no putting the genie back in the bottle.

Consumers love the convenience, choice and quality that streaming provides to their TV viewing experience.

“The numbers are still growing like gangbusters,” said Convergence Research President Brahm Eiley. “It will be a very buoyant business for a long time.” Of course, any notion of cutting back on program expenses comes with the risk that other rivals will not let up. Disarmament does not appear to be an option in the streaming wars.

At the same time, competitors are hoping the downturn at Netflix will force the company rethink its free-spending ways and bring some relief to the rest of the industry. Netflix has already started to cut back on some projects and its competitors believe they have seen the last of the company’s massive overall production deals .

Peacock, HBO Max and Paramount+ already have ad-supported versions of their services and Disney+ has announced plans to launch a similar tier as well. Amazon has rechristened its free ad-supported streaming service IMDb TV as Amazon Freevee. “You have to be able to sell your shows,” said a veteran TV executive who works for one of the streaming companies. “One company can’t take on all of the cost of these shows.”

 

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How Netflix's stumbles are causing rivals to rethink the streaming businessNetflix's first decline in subscribers in a decade has raised questions about the viability of the streaming business model. Glad I bought ExxonMobil instead of Netflix. It's up 50% and pays a 4% dividend. Netflix’s content has always sucked. And now that Woke is played out, people are not going to spend their Biden-devalued dollars on a substandard product. WokeIsDead Its viable as an oligapoly..like internet providers as an example - right now there are too many of them cannibalizing each other..
Source: latimes - 🏆 11. / 82 Read more »