The current internet entertainment landscape continues to grow. Netflix leads the way, although it is facing competition from a new powerhouse in the form of Disney. Disney’s emergence as a competitor is ironic since Disney owns Marvel Studios. Previously, Netflix generated subscriber interest through its offering Daredevil, Punisher, and other Marvel-oriented series. Reports of Netflix’s declining subscriber revenues appeared in the media long before Disney’s streaming service landed with a smashing debut.
Reports of Netflix’s decline, however, are premature. The streaming company continues to generate far more money than the motion picture industry pulls in at the box office annually. Netflix’s ability to remain an independent company might be its crowning glory. Various entertainment and media companies could not avoid buyouts. Disney’s purchase of Marvel, Fox, and LucasFilms shows smaller entities generally can’t last long on their own. The costs of running a large-scale entertainment studio become too much to bear. Lionsgate, a studio many heralded as the most successful of the independents, now finds itself in a difficult spot. Concerns exist that Lionsgate may sell out to a corporation to stay afloat. Netflix, however, maintains its strength and independence. Furthermore, Netflix has become a competitor to the top studios and production houses.
Netflix raised many eyebrows in the industry for its “blank check” approach to buying product. The company also pays top dollar to A-list directors and actors. In doing so, Netflix emerged as a serious competitor to the established studios. Many corporate boards likely cringe at not getting out ahead of Netflix earlier.
As cord-cutting continues, Netflix will continue to reap the rewards of customers gravitating away from traditional cable to streaming services, claims Forbes. Netflix must contend with the rise of competitors, but that is expected. Hopefully, the company has plans to stay several steps ahead of the growing competition.
