Streaming fatigue?
Netflix’ challenges go beyond password sharing…
Today, it seems everybody is talking about Netflix’ stock taking a beating. And rightfully so… the NFLX ticker is showing a daily dip of -35.12%.
The narrative around the loss of confidence often focuses on rampant password sharing and to a lesser extent the war in Ukraine.
There’s also the elephant in the room: increased competition in the video streaming space. For the first time in more than a decade, Netflix admits it has lost paid subscribers in a given quarter. Ouch…
Case in point: Disney Plus is a dangerous competitor with a clever mix of intergenerational content that have young families using the platform throughout the day. On the other end of the spectrum, there is Tubi (now part of Fox Corporation), an ad-supported platform which offers a huge amount of content for all age groups. Tubi is also experiencing exponential growth. There are countless other streaming services such as Amazon Prime Video, Hulu, HBO Max, Peacock and the list goes on…
Streaming fatigue was to become inevitable for certain platforms as competition heats up. And as a pioneer in the space, Netflix seems to have lost its first mover advantage. Needless to say, the future is looking rather bleak for the Californian company unless… a change in strategy is quickly implemented.
This story was first published on The PhilaVerse (my Substack newsletter).
