All recent news surrounding Netflix has been, well, not quite so good. The platform was already under fire for its increasing prices when the production house lost its best bet at the Oscars, making newcomer Apple the first streaming service to win an Academy Award. Add to this the increasing number of subscribers who are shifting from Netflix to other streaming platforms, raking away Netflix’s monopoly, and a billionaire who is tired of what he likes to call “the woke virus”, making content on the platform “unwatchable”.
Then, after we were sure news couldn’t have been less in favor of the streaming giant, we hear that Netflix faced a major loss. After the streamer reported a loss of 200k subscribers, its stock price took a massive plunge of 25%. This marks the worst news for the platform in about a decade as it marks its first subscriber loss in the same time period.
What does this massive loss mean for subscribers on Netflix?
It isn’t the first time that Netflix has been accused of having “woke” content on its platform. The streaming giant, time and again, goes against the norms. Be it constantly making sure their content is inclusive, which as appalling as it sounds, doesn’t rub people the right way. Its recent hit series, Anatomy of a Scandal, lingers on the concepts of social construct and consent. Hence, it is safe to say that Netflix doesn’t play by the norms. Or better yet, hasn’t played by the norms.
This came from the platform’s monopoly over the OTT market. However, it is soon going away. Its recent loss is both a consequence and cause of the same. This loss indicates that the platform might shift to the creation of more mainstream content. Inclusivity and social wokeness that became a symbol of the platform (Bridgerton and the Indian representation being the recent example) might not be as prevalent in the future.
What other changes can we expect?
Other than the change in the tone of content, viewers might also notice differences in the quality. The platform puts in millions of dollars for the production of a single episode of its Originals, for example, Stranger Things (12 million U.S. dollars per episode, 30 million U.S. dollars each for season 4) only because these shows have such viewership and hence quality is necessary.
With budget cuts, we might not see that anymore. Another thing fans can expect is changing timelines. Unprecedented changes in the production of a show are impossible to completely erase. But, this might be more common going forward. Rushed production will lead to lesser cost but, if the budget doesn’t allow a project to be completed on time, constraints will lead to its delay.
What changes are you expecting to see from the platform?