For the vast majority of the time that streaming media has existed, Netflix has been synonymous with the technology. Netflix was the first major company to offer it, the first to see it as the future of entertainment, and the first to offer hit shows as streaming products. There was no such thing as binge-watching until Netflix came along.
Netflix still offers new shows, movies, comedy specials, and much more, with new programming arriving essentially every day. During the coronavirus-caused shutdowns, Netflix’s streaming hours and earnings soared. But of late, some people believe that Netflix is getting worse and isn’t what it used to be. Let’s explore why that’s the case.
1. Loss of Licensed Content
Netflix hasn’t been the only streaming service in town for quite some time. But for many years, it was the main place to go for streaming shows and movies.
But much of the content that was once mainstays of Netflix has since disappeared. The Office left the service at the end of 2020, following the exit of Friends at the end of 2019. The Marvel Cinematic Universe movies used to stream on Netflix, they left the service in favor of Disney+ in summer 2020.
2. Much More Competition
The shows and movies that have left Netflix have ended up on other streaming services. And while Netflix has long-faced competition from the likes of Hulu and Amazon Prime Video, that competition has only gotten stiffer over time. Now, in addition to all of that, there’s Disney+, HBO Max, Apple TV+, Peacock, and Paramount+, all of which are making original content a big part of what they have to offer to customers.
When Netflix has opportunities to bid on shows and movies and to get into business with major directors and showrunners, they now have several more other services to compete against.
3. It Costs More
Despite all of those things, Netflix isn’t getting cheaper. In fact, Netflix increased its main price in fall 2020, upping its standard price by $1 to $14 a month, and its premium price by $2 to $18 a month. There were even rumors in 2021 that another increase could be on the way.
4. Less of a Cool Factor
In July 2021, Wired declared that Netflix is “losing its cool.”
Indeed, while Netflix was chock-full of hit shows during 2020, like Tiger King, The Queen’s Gambit, and Bridgerton, it brought much less buzzy content to the table in the first half of 2021. Most of the shows that got the culture going in early 2021, like Mare of Easttown, The Falcon and the Winter Soldier, and Loki, were on other services.
And while Netflix continues to add subscribers, its growth has slowed considerably compared to its record-breaking 2020 figures.
What Is the Future of Netflix?
There are mitigating factors to all of those things. Netflix, despite the growing competition, delivers such a high volume of shows and movies that culture-defining entertainment seems certain to arrive again before long. Friends and The Office may be gone, but Seinfeld will jump to the service in 2021.
In fact, there is so much on Netflix, that you’ll never run out of things to watch. Also, competition is a problem for every streaming service, not just them, nor is Netflix the only streaming service that has raised prices of late.
But it’s clear that Netflix isn’t in the unquestionably dominant position anymore, and it may very well not always dominate the entertainment sector that it helped to define.
Author: Stephen Silver
Source: Stephen Silver.” Why Is Netflix Getting Worse?”. Retrieved From https://www.makeuseof.com/why-is-netflix-getting-worse/
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