‘Netflix and chill’ may now be a thing of the past.
Netflix will most likely not be the place for you to catch up with your favorite shows and cult hits like The Office and Lost.
Hollywood’s biggest production troupes are preparing to launch a scathing attack on Netflix’s dominance on the world of streaming by launching their own streaming services this year. Many shows that were popular on Netflix are being frisked away by their own media houses to exclusively telecast on their own apps.
The Office, CW’s Riverdale, The Flash,Black Lightning, the entire roster of Marvel shows like Punisher, Jessica Jones are leaving Netflix to their respective copyrights owners like WarnerMedia, Disney, and Comcast/NBCUniversal. Disney has already launched Disney+ which Netflix should be worried of since Disney has been in the entertainment game for ages.
The absence of non-original titles will be a major hurdle for Netflix. Despite its original series like Stranger things, Mindhunters, 72% viewing time comes from non-original shows. In the US, for every 10 shows that Netflix users watched, 8 came from watching old hits such as NBC Universal’s Parks and Recreation, WarnerMedia’s Friends, and Disney’s Grey’s Anatomy. This highlights the importance of non-originals to Netflix and its customers.
Netflix has been preparing for this, to transition into a future with a decreasing number of non-original titles, prompting the company to invest heavily in original series like The Umbrella Academy. This year, the company is pumping $12 billion into making content for original titles.
Entertainment conglomerates have been withdrawing their content licenses. The biggest content suppliers to Netflix are now gearing up to be its rivals. It’s an uphill challenge for Netflix as it does anything to make its customers happy.
The disruption phase of the streaming world has just begun.