Not surprised. Netflix made fortune by being the first major streaming company, but now streaming is basically a solved problem every company that owns shows and movies is eager to get onto the field and the days of Netflix enjoying superprofits are far gone.
The innovation they were going for was making a ton of their own movies and shows but obviously that doesn't make money the way being the only game in town for streaming did.
Not surprised. Netflix made fortune by being the first major streaming company, but now streaming is basically a solved problem every company that owns shows and movies is eager to get onto the field and the days of Netflix enjoying superprofits are far gone.
“Sir, we’re no longer dominating the market. Should we innovate?”
“Inno-what? This is the free market. Jack up the prices!”
The innovation they were going for was making a ton of their own movies and shows but obviously that doesn't make money the way being the only game in town for streaming did.