Netflix is now a household name. Children, students, adults, and even seniors are all familiar with the streaming giant. However as they push up their subscription prices and lose valuable contracts, many have begun to ask themselves, "Will they really last?"
Many speculators believe that the company is in for a steep decline as the floodgates open on streaming. Warner-Brothers, Disney, HBO, and so many more all have streaming services, making streaming once again into cable tv requiring various packages, subscriptions, and frustration to get all of the shows a person wishes to watch.
One thing is certain though. Netflix is no longer king, but they could be again. It all just takes emphasis on the right things.
The most glaring issue the streaming giant is having is with it's core product. Reports every other week discuss the sudden loss of contracts the company has undergone. Disney has pulled many of it's Marvel and Star Wars title's for it's own platform after an earlier disagreement with the King of Streaming, and Warner-Brothers never licensed much of their own titles out to begin with, but now even the few that were on the service are likely to disappear. What remains then are a few good shows that people watch over and over again and Netflix originals which are "hit-or-miss" at the best of times.
Netflix needs to reexamine it's product and philosophy regarding content creation, scrapping titles that are trying to win film awards and giving consumers what they want: Solid shows that are actually binge worthy.
If they were to do that, it would free up capital to secure contracts they have lost or gain new ones so they can maintain their viewers desire to have them around.
The fact is that if Netflix does not adopt this strategy and they keep bleeding content then soon they will only have shows for a very niche crowd and the company will lose subscribers, and therefore revenue, very quickly.
Their service is based entirely on content and presentation. Their presentation is outstanding, but their content is becoming dull.
"Friends" and "The Office" are among the most highly watched shows on Netflix, and the streaming giant is in danger of losing even them, which goes to show how badly executives at Netflix are doing to staunch their bleeding of content.
Their price for their product may be appropriate for now, but I doubt it will be should it continue along this path. Should Netflix not correct the direction of it's platform then I predict that the golden days of streaming will be consigned with Netflix itself to the past.
Link To Article:
https://www.wsj.com/articles/netflix-battles-rivals-for-its-most-watched-shows-friends-and-the-office-11556120136
I liked your article because it shows how much the streaming industry is growing and how Netflix is trying to reevaluate their product to stay on top. As a Netflix subscriber, it is interesting to see how they can keep their subscriber count and not lose their following to the competition. I also liked how you were able to break down with your knowledge how Netflix can reevaluate their product.
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