Increased Competition Leads to Higher Quality Programs
Netflix is experiencing an alarming drop in viewer numbers. This drop has been reflected in a corresponding reduction in their stock price, which is more alarming to investors. The streaming service enjoyed a remarkable run through the Covid pandemic that saw their stock prices soar as no other company offered the same type or level of service that they were able to.
But there have been rumblings for quite a while that the sheer amount of content they offered was dropping in quality. Netflix seemed content to offer mediocre quality content, as long as they could offer a lot of it.
With Disney, Hulu, and HBO invading what used to be the turf of Netflix alone, people are suddenly being offered more of a choice in their entertainment. This sudden development has the executives at Netflix questioning their past decisions as those decisions may be coming back to haunt them.
The lack of quality and development is becoming an issue at Netflix as Disney and HBO are well-known for their vast archives of quality shows, specials, and series. The decision to produce reams of so-so programming is starting to seem like the wrong decision in the face of increased quality competition.
There have also been rumors of a customer subscription price hike at Netflix, as the company is suddenly running low on funds. All of this points to a lack of intelligent direction from the top of the Netflix organization. The price hike is just the latest insult to loyal subscribers who’ve put up with having to pick and choose among the low-quality fare the streaming service is producing.
The increased competition and need to produce better quality programming should serve as a wake-up call to Netflix. Let’s hope the company can regain their footing and start producing intelligent and watchable content once again.