Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

November 4, 2019 09:25 pm

Enjoy Netflix While It Lasts. It Can't Keep Going Like This Forever.

An anonymous reader shares a column: Derek Thompson, writing in the Atlantic last month, highlighted the ways in which contemporary millennial lifestyles are in many ways subsidized by venture capital. Unprofitable businesses are currently offering up great deals to urbanites who otherwise would be unable to afford their fancy city-living in large part because of losses incurred as the cost of buying up market share. "If you wake up on a Casper mattress, work out with a Peloton before breakfast, Uber to your desk at a WeWork, order DoorDash for lunch, take a Lyft home, and get dinner through Postmates, you've interacted with seven companies that will collectively lose nearly $14 billion this year," Thompson wrote of the "Millennial Lifestyle Sponsorship." He doesn't mention it, but there's another key player in the MLS field: Netflix. As Richard Rushfield has noted in his excellent newsletter on Hollywood business, The Ankler, Netflix is in a tricky position. The vast majority of Netflix's viewers (upwards of 80 percent, according to him) watch licensed content ("Friends" and the like) and in order to create a library of programming audiences will pay for, they've gone massively in debt: "Netflix is currently in the hole for about $20 billion in debt and obligations and still operating at a loss." Those benefiting from the "Netflix and Chill" branch of the Millennial Lifestyle Subsidy tree don't care. And it's all well and good for a Silicon Valley unicorn, one of those rare tech beasts whose valuations do not match profit-loss statements because there's no real competition yet and everyone believes first-mover status is an insurmountable advantage. But with the rapid rise of vicious streaming competition -- the ascendancy of Hulu and niche programmers such as Criterion; the creation of streaming services by Disney, Warner Brothers and Apple, to name a (very) few -- Netflix's advantage seems to be fading. One can already sense a sort of nostalgia for the golden age of bingeing while reading the Hollywood Reporter's roundtable with seven studio heads. "Doesn't it bum you out that you can't make 'The Irishman?'" asked THR's Matthew Belloni. And while one might expect studio heads to go the diplomatic route and say no -- everyone in Hollywood believes in their own product, after all, and there are no regrets ahead of time -- you believe the execs when they answer in the negative. "You know, it actually doesn't. It would bum me out if no one made the movie," Universal's Donna Langley said. "It's never been a better time for filmmakers and storytelling and for things to find their way into the world that were getting squeezed over the last five or six years or even longer."

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot