For years, Netflix has been the reigning source for streaming content. Unfortunately for them, the amount of competition appears to be increasing at a near exponential rate. It seems that new streaming services are popping up more and more frequently. Additionally, these new rivals have something Netflix lacks with much of its best content: ownership.
The streaming giant has built a multi-billion-dollar empire by riding waves of content they didn’t create allowing them to provide cheaper and easier access than their cable competitors. For $13 and an internet connection, an unlimited library of user-picked content became available. However, the days of streaming content from other networks is dwindling. Very soon, the company will find themselves in a very crowded playing field with some other major players.
Within the next year alone, Netflix will face tremendous opposition from the start of Disney’s streaming network, Disney Plus, AT&T’s WarnerMedia, and Comcast’s NBCUniversal. As if this were not challenge enough, Netflix looks to lose its two most watched television series, “Friends” and “The Office” with WarnerMedia announcing Tuesday that they will be taking possession of Friends in 2020 and NBCUniversal pulling ‘The Office’ in 2021.
Netflix certainly faces some stiff competition and with the streaming options constantly increasing, that won’t change any time soon. The true winner in the battle for our entertainment allowance will be determined by one thing: original content. However, with billions in their pocket and a strong audience at their fingertips, Netflix doesn’t seem ready to throw in the towel just yet. So sit back, grab some popcorn, and enjoy. This is one battle that’s going to be raging for a while.
Source: CNBC
