Culture / Life / Movies / TV

Podcast Companion: The Future of Netflix

Greetings, earthlings.  This week on the Critic of Everything Podcast, Kaija, Robyn and I dive into everyone’s favorite streaming service: Netflix.

Stream the podcast here.

75% of homes with Internet have Netflix.  Netflix pays the most for content, outspending Hulu and Amazon by almost 200%.  Users stream Netflix in 190 countries (legally).  Netflix has aspirations of turning into a major movie studio.  They tested the waters with Bright and Mudbound.  We dissect both movies’ studio potential and debate whether or not Netflix can compete with a Disney- only streaming service, and if they should even have to.  We also touch on the Disney/ Fox merger and why they went for it now (spoiler: Capitalist President).

Here are the high points if you prefer reading or are writing a research paper or something:

HISTORY OF NETFLIX:

How Netflix Makes Money

  • Subscriptions
  • Resale distribution: Studios will pay Netflix to host their intellectual property
  • They are the highest bidder: According to WSJ, Netflix spent 3.3 billion on content acquisition in 2015, more than twice what Hulu and Amazon were paying.  WSJ reports Netflix spent 8 billion in 2017
  • Netflix famously doesn’t don’t release viewer statistics, but we know what does well based on renewal schedules: Stranger Things, Bright
  • Neilson released data saying 11 million people watched Bright within the first three days
  • Grow by adding subscriptions, especially in foreign markets 

  • 65 million wifi connected homes have Netflix, 75% of the streaming market
  • Second highest: YouTube, at 53%, Amazon, 33%, Hulu, 17%
  • Netflix offered Mo’Nique $500 thousand for exclusive rights to distribute her comedy specials, paltry compared to Chris Rock and Dave Chapelle’s $20 million deals
  • Netflix wants to be the comedy destination
  • A “Netflix Original” refers to any content Netflix has exclusive rights to distribute in a given country:  for example, Chewing Gum is produced in Britain, but in the U.S. we can only see it on Netflix, so they call it a “Netflix Original.”  This, of course, extends to content they produce in- house (BoJack Horseman, Bright).

Bottom Line: The people have the power when it comes to Netflix.  We pay the subscriptions and we demand the content.  If you dislike, divest.  

 

 

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