Opinion: How streaming can avoid the same fate as cable TV - CNN - 0 views
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Streaming networks were the center of attention last month when the television industry — or, more accurately now, the entertainment industry — staged its annual ritual known as the "upfronts."
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The program distributors (what used to be called studios) are trying to navigate a marketplace that is not entirely sure where it's going. Streaming was expected to take over as the be-all/end-all of not just TV, but also the film industry. But the sudden crash for Netflix, the industry leader, in both subscribers and stock price, has the business collectively hitting the pause button. After all, who knows whether an overall better idea than streaming is only a few years away?
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hugely successful media giants dominating the entertainment scene, growing fat and cocky, dismissive of upstart competitors, followed by a humbling slide toward marginalization, if not outright irrelevance.
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First radio was so dominant that surely no one thought television could ever replace it. Then broadcast TV was such an enormous presence in American life, some network executives dismissed cable TV as destined to be small-timey forever.
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A viewer could watch a whole series in a single day and never be bothered by somebody selling corn flakes.
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There could be a number of reasons for the huge subscriber drop, but the biggest seems to be increased competition, with a slew of companies with great resources and deep libraries of content entering the streaming world in recent years, including Disney, Universal and Warner Bros. Discovery (the parent company of CNN).
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Netflix, following in the footsteps of streaming competitors like Hulu and HBO Max, is reportedly exploring a new option for financial security. Or rather an old one, a really old one.