Since its creation in 1997, Netflix has become an entertainment staple in homes all around the world. It’s known for being the first successful streaming service in existence, and has provided the masses with an ever-changing myriad of movies and television shows. Throughout its almost 25 years, the streaming service giant has undergone critical changes in an attempt to stay relevant and profitable.
The Evolution of Netflix
Netflix began as a DVD-by-mail company and then pivoted to streaming after it was introduced in 2007. From 2010 on, the DVD-by-mail company has increasingly been considered a streaming service company. By 2012, Netflix began making its own shows. Netflix original content presently accounts for over 40% of the company’s US library.
Streaming Wars
As most of Netflix’s subscriber base has noticed, the amount of content owned by outside companies that were previously on the streaming platform has been dwindling. Disney is a great example of why this decrease is happening. Disney+ was launched in 2019, which means that most of Disney’s content was removed from Netflix. More content was removed when additional streaming competitors like Paramount+, Peacock, and Apple TV+ entered the game.
The dispersal of beloved content, rising subscription prices, and return to semi-normalcy after the COVID-19 pandemic has resulted in a huge loss of subscribers for Netflix. In order to combat this influx of competitors and loss of subscribers, Netflix must once again adapt to what’s current.
A Surprising Solution
A survey was recently sent out by Netflix inquiring about possibly equipping gaming into its media arsenal. Unfortunately, it’s too early to tell what the results of the survey are, but the questions indicate that Netflix games may be available on various platforms like mobile, console, and tablets. Based on consumer responses, this could help repair Netflix’s large loss of subscribers.
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