Peak TV, a stunning era during which
Big Tech and traditional studios entered into a furious competition to
make a bewildering amount of content, is dead. The
559 scripted shows from last year represent a historic hubris that everyone, especially investors, is recovering from.
That was the year that Netflix announced that it was spending $18 billion on content.
the aftermath, Netflix lost subscribers for the first time and expects
to lose millions more as its stock fell 35%. The dot com giant lost, but
so did its rivals. Disney+ lost billions, HBO Max is cutting back
programming, and so are most others, including the ‘N’ in the FAANG
Netflix has been humbled, and is shedding woke programming and exploring an ad-supported tier, but the push by Hollywood studios to build rival streaming platforms to those of Netflix and Amazon by investing heavily in original content gated by subscriptions has set a lot of money on fire without achieving platform independence. Everyone lost, but Big Tech still runs the show..........@ Sultan Knish Blog
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