Netflix drops thousands of films since 2010 – here’s why
According to a new report from Flixable, a third-party Netflix search engine, the streaming video on demand (SVOD) market leader has over 2,000 fewer movies in its library than it did eight years ago. That’s 6,755 movies on the books in 2010, compared to “just” 4,010 today.
If it sounds strange to you that a company would decrease its service as it experienced massive growth, you would be on to something: in the same timeframe, the total number of TV shows in Netflix’s library has nearly tripled to 1,569. In other words: the platform is evolving, not shrinking.
Netflix’s share price has appreciated by a shocking 47% so far this year
SOURCE: Yahoo Finance
We are living in what critics call the “golden age of TV” – ambitious shows like Westworld, Game of Thrones, and Breaking Bad, have perfected the medium to a fine art. They have also proved addictive to viewers all around the world. As SVOD services have risen to prominence, Millennials and younger have demonstrated a new preference for content consumption: “binge watching”. This describes watching entire series’ in a single sitting or thereabouts – and it has increased the demand for top quality TV shows even more.
It’s also true that the company has been straightforward in regards to its filmic ambitions for some time. In 2016, the company’s chief content officer, Ted Sarandos, explained to the press that buying access to the latest Hollywood blockbusters wasn’t, on its own, a great business move for Netflix. The reason is that people who really want to watch that movie will already have seen it in movie theatres. Hence, the company would always “end up with a third of our watching being movies” rather than a higher fraction.
Netflix, instead, has chosen to focus on its own content. It’s already had massive success with TV shows like Stranger Things, but now it’s making movies too. It’s first big budget foray was the Will Smith urban fantasy vehicle, Bright. The critics didn’t love it, but Netflix seems to know what its fans want: 11 million people in the U.S. alone watched the film within three days of its release.
Dominion holds Netflix in its Global Trends Ecommerce Fund.
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