Brian Steinberg Senior TV EditorMedia companies both old and new had pinned their hopes on riding a wave of interest in streaming well into the future.
Now they are finding that there may be only so far the new technology can go.Netflix’ disclosure on Tuesday that it lost 200,000 subscribers in the first quarter and expects to lose 2 million more in months to come, has set the industry on edge — not because Netflix is a barometer of entertainment-sector health, but because it is furthest along the path that rivals ranging from Apple to Warner Bros.
Discovery are all treading. In an era when more consumers want to watch their favorite programs at times of their own choosing, every media conglomerate and new-tech Hollywood hopeful has reworked itself into an organization focused increasingly on streaming, rather than the linear TV that is still the core of the overall business.
And on Tuesday, all that work came under new scrutiny.To be sure, Netflix’ subscriber shortfall comes during a unique period, one in which many U.S.
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