When Netflix it’s pretty noticeable. Despite the emergence of countless streaming services for movies and series that try to challenge its leadership, the platform has managed to remain the best benchmark in the sector. However, his world seems to have been turned upside down as he reported a loss of 200,000 followers in the first quarter of 2022 in April. users plus.
It hasn’t even been a month since the news broke, and Netflix has unveiled a contingency plan that attacks different fronts. From an economic standpoint, the company decided to fund less original content, but of higher quality. That doesn’t mean he intends to cut his investments – in fact, he will increase them by $20 billion – but he wants to be more selective with projects, and this has already caused alarm among Hollywood producers.
In addition, he announced the launch of a cheaper subscription plan that will include advertising (obviously coming this year), and began to explore the possibility of getting into the world of live events. And as if that’s not enough, he wants to go hunting and find all those who share passwords from his accounts so that they stop doing it.
All this suggests that the Reed Hastings company seems to have come out of a lethargic sleep; though more out of duty than by conviction. However, The worst thing Netflix can do today is act out of desperation.. The platform continues to lead the market and is well positioned to do so, and needs to address some key issues in order to shed the negative criticism and start building after a rocky start to the year; among them, offering a more carefully curated catalog and better aware of what’s happening on the street with competitors.
Netflix needs to adjust its strategy
It feels like Netflix has stepped on the accelerator pedal in recent weeks on issues that have been dormant in recent years. The first user crash in a decade was a painful but necessary reality check; especially since the company leave your comfort level who he recently adopted.
Netflix was isolated to the point where it didn’t even consider whether its release dates matched up with major releases on competing platforms. One of the most high-profile cases was the series dawnwhich debuted on the service at the end of October 2019, just at the time of the greatest expectation of the presentation The Mandalorian on Disney+, which arrived just a couple of weeks later.
Failure dawn It was such that in mid-December, when two months had not passed since the premiere, Netflix decided to cancel it. And the problem was not in the criticism of the production, which received mostly positive reviews, but in the lack of impact on the audience. Jeffrey Fierson, the show’s producer, didn’t hesitate to blame the streaming service for poor launch logistics. “If there’s one thing I’d say is Netflix’s fault, it’s that it’s an island. They may not see what’s going on outside their walls, or they may know and the arrogance is so great that they don’t care,” he said. Wall Street Magazine.
And his turn to the video game industry didn’t seem to help him stay focused either. Last year, the platform was very aware of releasing its games for iOS and Android — and gobbling up disparate studios along the way — and so far, none of them have sparked the passion of the crowd. It is too makes you doubt that your bet on games really justifiedalthough this is a topic that we will cover in detail another time.
Beyond making the necessary changes, Netflix’s worst mistake today would be overdoing it in an attempt to correct past mistakes or sloppiness. If a company rushes to make important decisions, it is likely to be left on the sidelines, and its relationship with users will suffer even more.
Source: Hiper Textual
