“We compete with (and lose to) ‘Fortnite’ more than HBO.”
“Our focus is not on Disney+, Amazon or others, but on how we can improve our experience for our members.”
Netflix once said that. Many companies were moved by these remarks, and began to name companies in other industries as competitors. Most of them choose Apple or Tesla as their competitor. In this sense, my rival is Elon Musk.
However, Netflix compete with HBO, Disney+, Amazon or other OTT companies more than Fortnite. Until about 2020, Netflix was virtually monopolizing in most countries. During that time, Netflix should have filled its videos with killer content such as A Game of Thrones, Friends, etc. But it didn’t. Netflix wasted time and money focusing on quantity rather than quality and ruining the previously popular original series.
It gave other OTT companies a chance to catch up. If you type ‘why netflix originals’ into the Google search box, you can see that ‘why netflix originals are so bad’ appears as a recommended search term. The continued supply of content such as squid game, rather than business models such as games or ad-supported service, will determine whether Netflix can continue to lead the streaming wars.
Netflix’s stock price plunged in 2022. There can be various causes such as intensifying competition for OTT, inflation, the end of the pandemic, etc. It’s clear that it’s not because of Fortnite.
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