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The competition among the OTT platforms is heating up rapidly with the increasing number of platforms, content, and user base. Netflix is kind of falling behind in the game even though it has been reigning at the number one spot for quite a while now.
Netflix’s stock and shares are currently tumbling at 41% which is always high for a long time. Just like the latest comedy film ‘Don’t Look Up’ ft. DiCaprio, the sky for Netflix is falling too.
The platform is currently gaining subscribers at a very slow pace which is unusual for an OTT platform like Netflix as it possesses the viewer base. The company has put the reason behind it that new users are not coming as it has increased the cost for the North American users.
On one hand, Netflix is slowly losing its ground and on the other hand, the potential customers are gathering over the other platforms such as Amazon Prime, Disney +, and many others. As the rivalry is getting strong over the quarters, Netflix is having a hard time rising up.
Michael Nathanson, a well-renowned Media Analyst said, "It looks like they're hitting maturity." Talking about Netflix he further added, "They keep raising their prices, and now in order to maintain a level of subscribers they have, they continually add more and more new content, and content is inherently a hard business to predict with peaks and valleys."
All though Netflix is trying to grow more with its own production and movies like, ‘Red Notice’ and many other Netflix original movies; the platform is losing its customer base.
Nathanson further said, "The intensity of competition is going to pick up in 2022." He explained the competitive market by saying ‘"You have sports being rolled out on streaming. You have Lord of the Rings coming from Amazon (AMZN). You've got Discovery and HBO Max merging, so more content there. And Disney's backend content slate is coming."
He concluded, "I think 2022 is going to be one of concern about growth and competition for Netflix."
Image Credit - Edition[/caption]The competition among the OTT platforms is heating up rapidly with the increasing number of platforms, content, and user base. Netflix is kind of falling behind in the game even though it has been reigning at the number one spot for quite a while now.
Netflix’s stock and shares are currently tumbling at 41% which is always high for a long time. Just like the latest comedy film ‘Don’t Look Up’ ft. DiCaprio, the sky for Netflix is falling too.
The platform is currently gaining subscribers at a very slow pace which is unusual for an OTT platform like Netflix as it possesses the viewer base. The company has put the reason behind it that new users are not coming as it has increased the cost for the North American users.
On one hand, Netflix is slowly losing its ground and on the other hand, the potential customers are gathering over the other platforms such as Amazon Prime, Disney +, and many others. As the rivalry is getting strong over the quarters, Netflix is having a hard time rising up.
Michael Nathanson, a well-renowned Media Analyst said, "It looks like they're hitting maturity." Talking about Netflix he further added, "They keep raising their prices, and now in order to maintain a level of subscribers they have, they continually add more and more new content, and content is inherently a hard business to predict with peaks and valleys."
All though Netflix is trying to grow more with its own production and movies like, ‘Red Notice’ and many other Netflix original movies; the platform is losing its customer base.
Nathanson further said, "The intensity of competition is going to pick up in 2022." He explained the competitive market by saying ‘"You have sports being rolled out on streaming. You have Lord of the Rings coming from Amazon (AMZN). You've got Discovery and HBO Max merging, so more content there. And Disney's backend content slate is coming."
He concluded, "I think 2022 is going to be one of concern about growth and competition for Netflix."
