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Issue link: https://digital.macdirectory.com/i/1277879
Crossing Borders Streaming Firms Must Address Lost Revenue Issues By Andy Marken Back in 2017, the company that is synonymous with streaming video entertainment had this stupid idea of putting up the full season of shows at one time and people stayed up round the clock to binge/watch it all-- BAM! It was the ultimate proof of the benefit of VOD entertainment - watch what you want, where you want, when you want, how you want. Reed Hastings, Netflix's CEO, proudly proclaimed to shareholders – and anyone else who would listen – that their only competition was sleep. The company's then 58.4M subscribers in 190 countries (182.8M subscribers today) who gave the company $6.7B ($20B+ in 2019) agreed. More importantly, so did his shareholders and a growing list of competitors around the globe who could see a big, beautiful market emerging: • 1.250B+ broadband subscribers globally • 5B+/- mobile subscribers WW • 1B+ pay TV subscribers WW All of them were obviously ready to take advantage of everything Netflix had to offer … all at once. Many millennials and boomers cited the high/rising cost of cable as the prime reason they were dropping/shaving their multichannel TV service (pay TV) for OTT viewing. At the same time, Gen Z and Alpha folks didn't have to make this decision because many never had a pay TV service. But there was a more important reason.