A Lesson for Other Streaming Platforms
Technology news has been flooded over the past week or two with news around the almost certain downfall coming for Netflix.
This is amidst its price hikes and the changes coming to account sharing and additional costs there too – some users may not realize that the platform had also tried to expand into the gaming space, looking to grow into the casual space much like the biggest non Gamstop casinos uk for example with games of chance being a popular option, but is also something that looks to be falling short. What lessons can be learned from the downfall of Netflix to other streaming platforms, however?
A rise in piracy for streamed media – Netflix had been one of the first platforms to provide what is essentially a service solution with Gabe Newell, head of Valve the company most known for its gaming library platform Steam, once said that piracy was a problem with service, not price. The service Netflix once provided was a solution at a great price, but with so much competition in the streamed space, piracy is on the rise once again and the other streaming platforms may need to learn from this as Netflix continues a downward trend.
Early cancellations for unique content – Another issue that has been facing Netflix over the past few years too has been the early cancellation of some of its favorite shows – releases that have been well received but only manage to stay on air for one or two seasons before getting axed has been of particular frustration and something for the competition to learn from. Understandably there are ratings and budgets to be considered when making these decisions, but many feel Netflix had axed a few too many ahead of their time before really giving the show a chance to shine.
Iron out unwanted features ahead of time – Most users likely knew to some degree that account sharing was in a bit of a grey area, but it had become a feature of the platform over time too and many users paid for that privilege too with the more expensive account packages – but going back on these features like Netflix currently are with the increased pricing for additional users and a crackdown on account sharing will have other streaming platforms making a decision. Either crack down on it now or accept this will be a permanent part of the platform’s future.
The complete fallout of Netflix adjustments are not yet known and will take some time to fully materialize but with forecasts suggesting a loss of up to 2 million subscribers before the year is out, the competition will be watching closely to see what to avoid.
