What is your favourite streaming service? Why?
Probably Netflix is close to become the new Blockbuster and it still does not realise.
Before, Netflix used to be the ‘purple cow’ and the main preference in the market however, nowadays just turned one more streaming service among many others and because of that Netflix should be worried.
The problems and reasons are many so follow that list
According to JustWatch, Netflix has lost more than 2% of market share on the Q2/2022 in America.
Nowadays, the situation is
1. Netflix: 21%
2. Amazon Prime: 20%
3. HBO MAX: 15%
4. Disney+: 14%
5. Hulu: 10%
Important to highlight that Hulu is owned by Disney.
Apple, Amazon and Disney have a considerable good amount of revenue which allows them to invest more on TV Shows and movies absurdly well produced compared to Netflix and with well known figures.
Also the fact that allows them to charge lesser and offer a better package once these companies also have different types of products and services available on portfolio.
Going further, price, portfolios, productions and studios are not everything because still have the competition for watch time.
Then, on this scenario social media joins that group such as TikTok, Instagram, YouTube and Snapchat.
So the cost per time watch is becoming even more expensive despite the success of Stranger Things for example.
Netflix has been losing many subscribers because of those points and in 2022 it has lost also +70% of stock share.
Problems with employees, ideological activism, lay offs etc.
Many streaming services are investing on Live transmission of sports, Start+ (Disney), Prime, Apple and Peacock with NBA, Baseball, NFL, Soccer and meanwhile that Netflix…
What is going to happen?
Well it’s unpredictable but in the worst scenario Netflix could be acquired by one its competitors for consolidation in the market.
Now tell me, what do you think about that?