आईसीटी समाचार
Netflix had a poor quarter in the first quarter of 2022. It lost almost 200,000 customers and admitted that newer competitors such as Disney Plus and HBO Max were basically ending the way the firm had been conducting business for nearly a decade. According to The Hollywood Reporter, Netflix is shifting away from the frenzied release schedule and midsized films that helped it become a near-critical darling in favor of a new plan to develop "larger movies" at a less "gluttonous pace."
But the last decade hasn't only been about flooding the zone with material in an attempt to swiftly establish a library that can compete with Disney and Warner Bros. It was also about Netflix attempting to instill some of the digital attitude in Hollywood. Caution is essential in Hollywood. Because Hollywood discovered higher and more regular profits on massive blockbusters, Hollywood shifted away from the midrange films that were formerly Netflix's bread and butter (usually involving some sort of superhero or an actor who plays a superhero in another franchise).
Netflix, with its near-endless cash supply and no need to appease distributors or cinemas, could afford to create more diverse material in order to keep people's memberships every month. It could also justify the high investment by claiming that it was attempting to better understand consumers through rigorous analysis of viewing data that its competitors lacked. Netflix was intended to revolutionize Hollywood. Instead, it's adopting the same strategies that helped its competitors become titans, but without the profitable franchises, fandoms, and massive back libraries.
Netflix is already working on a new ad-supported subscription plan to attract more users who are hesitant to spend money on the Streaming Wars. Peacock and Paramount Plus already offer comparable levels, while both Disney Plus and HBO Max intend to introduce ad-supported tiers. Netflix is also tightening down on password sharing, which it claims over 100 million households use to avoid paying for additional memberships. Previously, the corporation appeared to disregard — and occasionally even tacitly condone — password sharing. Meanwhile, HBO Max has built-in safeguards against password sharing.
