Ahh…we often hear a company say things like, “What? New content? We’re not concerned with that…” shortly before they crumble to pieces. Well, alright, we might not hear exactly that, but something along those lines. For game consoles, a lack of new content is death. For an online news or information source, the same. So for Netflix, who says that new releases aren’t really their aim, nor is it all that important, it could be the old one-foot-in-the-grave syndrome.
Staying ahead when competition starts not only taking content and users, but also when the content suppliers start becoming competition is extremely difficult, and Netflix doesn’t appear to be weathering the storm so well. In a recent interview they were quoted as saying that “New releases don’t drive our business, (The Street)” and “Netflix is about variety and instant access to a deep catalog that offers convenience, selection and value.” You mean, like Blockbuster? I mean, it worked well for them. No wait, they had tons of new releases… and still fell into bankruptcy.
They apparently also say they have more new releases than one might imagine. However, after stating that they’re not aiming to put new releases in the fore, the question is why then put focus on that?
September is rapidly rolling round and as you all know, the pricing structure will change drastically for those who occasionally rent a DVD but also want online streaming. So combine that move, which severely displeased many of their users, except for Jeremy, with their lack of new content and it sounds like the bell doth toll for Netflix.
I’ve already canceled my subscription a month ago when it was set to renew. Since it had nothing I wanted to watch and I have Hulu which has all the TV I want to watch (plus tons of the same films), I was set. Plus, I don’t like where they are going because it seems to be down, down, down in a burning ring of fire.
Perhaps they’ll survive, perhaps they’ll innovate. But really it doesn’t look good right now, and with their inability to obtain all the newest films, or much of the new TV content, it doesn’t seem like those 24 million subscribers that they’ve claimed will stick around all that much longer. For the same price, you can get most of the same films from Hulu, plus a whole lot of new TV content which you can’t get there.
While we need to give Netflix props for opening it all up wide and allowing us to all stream what we wanted, I think the times for ‘attaboys’ is done and now it’s put up or close up time. Perhaps they’ll come out on top next month and generate more revenue with the new pricing model which will then allow them to get more new content and perhaps not. I guess we’ll all just wait and see. In the meantime, I will be over at Hulu watching stuff I want to watch, not stuff I didn’t know that I wanted to watch and had foisted upon me.