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Why a Netflix Collapse Is Bad News
For now, Netflix has been the most diverse platform.
Netflix is officially losing money. The company announced a major loss of subscribers this week, which sent shares tumbling 35% and inflicted a loss of $50bn. It’s not looking good.
This is probably not a surprise for the average consumer or Netflix viewer. Sean Kernan wrote about the issues Netflix has for users, and I have to say I agree with what he says.
I think all of us have noticed a dip in quality in the past couple of years, as well as the rising cost. There are lots of low-quality shows and a lot of cheap reality TV — which I love, by the way — and it’s getting harder to find good shows that are not Netflix originals.
The fact is that the platform has gradually been losing content to the streaming wars as other media giants want to get in on the business. From the early days of Netflix when everything was on the platform, we’ve now moved on to a model where you have to make your pick between six different platforms. And paying for several platforms at once.
As a consumer, you’ll always end up losing money as soon as the big guys get a whiff of what’s happening. They want their share of the pie, and you’ll have to pay up or miss out.
