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It’s “shakeout” time as losses of Netflix rivals top $5 billion (arstechnica.com)

submitted 8 months ago by [email protected] to c/[email protected]

2 comments fedilink

It's "shakeout" time as losses of Netflix rivals top $5B (arstechnica.com)

submitted 8 months ago by [email protected] to c/[email protected]

2 comments fedilink

There is a discussion on Hacker News, but feel free to comment here as well.

255

It’s “shakeout” time as losses of Netflix rivals top $5 billion. Disney, Warner, Comcast, and Paramount are contemplating cuts, possible mergers. (arstechnica.com)

submitted 8 months ago* (last edited 8 months ago) by MicroWave to c/news

69 comments fedilink

The world’s largest traditional entertainment companies face a reckoning in 2024 after losing more than $5 billion in the past year from the streaming services they built to compete with Netflix.

Disney, Warner Bros Discovery, Comcast and Paramount—US entertainment conglomerates that have been growing ever larger for decades—are facing pressure to shrink or sell legacy businesses, scale back production and slash costs following billions in losses from their digital platforms.

…

“TV advertising is falling far short, cord-cutting is continuing to accelerate, sports costs are going up and the movie business is not performing,” he said. “Everything is going wrong that can go wrong. The only thing [the companies] know how to do to survive is try to merge and cut costs.”

295

It’s “shakeout” time as losses of Netflix rivals top $5 billion | Disney, Warner, Comcast, and Paramount are contemplating cuts, possible mergers. (arstechnica.com)

submitted 8 months ago by L4s to c/technology

77 comments fedilink

It’s “shakeout” time as losses of Netflix rivals top $5 billion | Disney, Warner, Comcast, and Paramount are contemplating cuts, possible mergers.::Disney, Warner, Comcast, and Paramount are contemplating cuts, possible mergers.