apps. Reed Hastings, boss of Netflix, has named “Fortnite”, a hit video game, and sleep as his main competition.
Again, Netflix serves as a cautionary tale. In the third quarter it added just 500,000 American subscribers, 300,000 fewer than expected. Earlier this year it saw their number decline for the first time in 12 years. And that was before Disney, Apple and others entered the fray. Globally, Netflix now expects to add 26.7m subscribers this year, down from 28.
Still, a shake-out looks inevitable. There is much uncertainty about who will be left standing. The prevailing view in the industry is that Netflix will be hard to dislodge. It has amassed 158m global subscribers and created a brand that appeals to all ages and tastes.
Many media executives, particularly the veterans among them, worry about what this means for the future of high-quality content. In their view, much of the film andbusiness is now run by clueless outsiders. They cite Apple’s “Stories to Believe in”, as its firstshows were mawkishly trailed, as evidence of naivety. “The Morning Show”, a drama about working in television starring Jennifer Aniston and Reese Witherspoon, got mixed reviews.
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alllibertynews When offsprings of industry become overtime the heavyweights of industry, it makes me smile. Money does not stagnate, investments and vision of greater profits and innovations makes the world wealthier and closer to each other.
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