Netflix has pioneered the streaming game to new heights, by introducing an all you can watch, binge-watching experience for its subscribers. Netflix was and still is the best streaming service to date. Some say its future is uncertain with the likes of Disney+, Apple TV and other players joining the game. Its time to decipher this myth.
It’s true, I’ve canceled my Netflix subscription not only once, but twice. I was extremely frustrated with the constant price increase and the mass cancellation of my favorite shows. I eyed on cheaper options such as Amazon prime which offers Amazon’s fast shipping service bundled with music and Amazon prime video, all for 7.99CAD. It’s a steal, right? Well not quite. As I sat down browsing through Amazon’s catalog, I couldn’t help but miss Netflix’ innovative user interface. The movies seemed old and I couldn’t find the content I was looking for. Perhaps Amazon Canada has less content than its American counterpart, as there seems to be a lot missing. After a week I canceled my Amazon subscription and moved on to find my Netflix replacement.
Next was Crave TV and HULU. While HULU was a great contender, the hustle of getting it to work in Canada was not worth my time. HULU has some great shows and the pricing is good. I also liked how I can add TV channels with my subscription. Despite this, something still fell short. The content didn’t blow me away as Netflix did. Most of the content was very familiar and unintuitive. Crave was even worse, the user interface was bad, it was slow and extremely boring. I might be biased but I find Netflix’ content more original and thrilling.
Disney+ is an upcoming streaming service by Disney. It’s no surprise that people will see this as the smoking gun, the Netflix killer. I see this as a companion for Netflix, and this is why. Disney+ will offer all Disney classic movies, star wars, marvel, national geograpic and Fox entertainment content. That by itself makes it one of the most compelling streaming service to date. However, Disney is known famously for making great family content which might not appeal to everyone. A streaming service needs to be versatile and diverse. Netlfix offers the type of content that can make you puke or want to be a drug dealer. While disney+ will be great for families, it will definately not replace Netflix. I think most people will subscribe to both as a way to get great family content and amazing original shows.
From horror to grusome documetaries, Netflix seems to be a platform where creators showcase their talent without filters. To me, Disney+ seems to focus on what they already have as a company, such as star wars spinoffs and marvel tv series. This is great as I am a die hard Marvel fan. But at the same time, Netflix’ diverse content can’t be passed.
Apple TV, Comcast and AT&T will also join the streaming game. Apple Tv seems to be the only promising one. It was unveiled that it will cost $5.99 which is a fair price. One thing will be for certain though, non of these streaming companies will have enough content to compete with Netflix at first. Netlfix has spent over $12 billion in 2018 and it is expected to grow to $15 billion this year. This is a lot of money. To say the least, streaming will soon become an oversaturated market where people will combine services that provide the mixture of content.
THE NETFLIX PROBLEM
Shares of Netflix fell 10.3% after the company reported a loss in US domestic paid subscribers for the first time in eight years. Netflix lost more than $16 billion from its market cap following the report, bringing it to $142.2 billion. The stock is still up more than 21% so far this year. On the other hand, the international market is growing. There are many reasons to why this happened. Netflix needs to stop increasing prices while maintaining a more sustainable budget for the company in the long run. It seems like they are overspending and laying the cost on subscribers.
Netflix should stop cancelling tv shows. In 2019 alone, Netflix announced that it would cancel 14 tv shows. It caused upset among fans and possible loss of subscribers. Some shows that were cancelled were the OA, Jessica Jones and The Punisher. Fans feel betrayed and mistreated by the company. Hopefully things get better with future content.
Netflix has always found a way to get people talking. Whether it’s by releasing a conspiracy documentary or a disgusting horror show. Like it or not, it’s here to stay.