The End Of Netflix?
Remember when you first heard of Netflix? Life was very different back then. People would go to video stores and franchise stores like Blockbuster Video ruled the consumer landscape. Why would anyone want a DVD/video cassette delivered to their home?Netflix is now one of the most powerful media companies in the world. Blockbuster is gone. Media giants that laughed at Netflix now pale in worth to Netflix. The company has always been ahead of its competitors, but now the media tectonic plates are shifting.
Recently the company has lost two of its most viewed/streamed shows. NBC announced that The Office will be leaving Netflix when their current contract expires in a year or so. NBC will move the adventures of Michael Scott, Dwight Shrute and the rest of the Dunder Mifflin crew to its own streaming service.
Now Friends, owned by Time Warner, is leaving at the end of the year. Friends will now move to Warner's version of Netflix HBO Max. Netflix spends a lot of money on producing great content like the current his 'Stranger Things Season 3. MarketWatch Reports that the company will spend over 12 billion dollars on content this year.
New competition could result in a loss of subscribers. Gone are the days when Netflix owned the exclusivity on streaming content. Hopefully more competition will result in a price break for consumers.