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What Is Netflix Struggling With And Who Is The Biggest Competitor?

What Is Netflix Struggling With And Who Is The Biggest Competitor? English Article

Netflix was the first platform that changed the concept of entertainment and established new revolutionary rules for media companies and productions. Rising from the DVD rental industry to the streaming powerhouse, Netflix is a reputable company and one of the most famous brands in Silicon Valley. However, the giant struggles and the business is not easy at all.

In recent years, Netflix saw unexpected delays in the market due to several reasons among which are the increasing prices and the tough competition. It sometimes even feels unfair since it’s been a few years since Apple is generously granting free access to its streaming platform, Apple TV+, to the different categories of users. In the meantime, Apple usually produces a higher quality of content, featuring icons like Martin Scorsese, Leonardo Di Caprio, etc.

As a result of many ongoing issues and trends, Netflix has been positioned as a pure entertainment platform, which means you don’t have to get surprised when reading somewhere that the biggest competitor of Netflix is TikTok, for instance. But let’s explain first the competition struggles Netflix currently faces, and talk about solutions they are trying to adopt. Hopefully, it will make you understand whether you want to prolong your subscription or whether the red giant transforms into a platform that is not what you were looking for.

The Threat From The Gaming Industry

Talking about Netflix as a purely entertainment platform means that it can be vastly influenced by current entertainment trends. And what is the biggest trend today? Of course, it’s gaming that is growing in popularity amid the attractive development of technologies, including virtual reality projects.

Another reason is the trust gamers have towards cryptocurrencies, which accelerated the operation of casino gaming platforms, taking it to another level. MBitcasino games are one example of how digital gambling can become an important player in the entertainment industry, being empowered by crypto payments and advanced programming features. Are gaming platforms competing with Netflix? Definitely not. But is Netflix competing against them? This is a question to answer.

It’s enough to analyze the mobile application that Netflix developed, to understand its ambitions for the future. A few years ago, the streaming giant introduced a new way of entertainment - the Netflix games. Of course, those are related to the main content the company produces, and the games are based on popular TV series, such as Stranger Things, Squid Games, and more. It’s quite clear what is Netflix navigating to, given the fact that they actively advertise this new feature, which can be seen as a big advantage that the company has compared to the competitors, and which the gamer’s community would probably appreciate.

The Threat From Social Media

We mentioned TikTok not randomly. There are many statements about how the platform affects the popularity of Netflix among the young generations especially. Both platforms provide entertainment content, and as described by Forbes, one is for big screens, and the other for small ones. At first glance, they work for different segments and different purposes, but let’s dive deeper.

On average, young Americans spend more time using a smartphone than watching TV. According to the media report, the difference is almost 2 times, and that trend is of course expected to grow amid the advanced smartphone market and mind-blowing offers with high-end technology. The reason why the young generation would prefer scrolling TikTok rather than staring at the TV screen is the emotional connection with technology. People don’t like being passive users, but being a part of the content, doing some actions, no matter what - scrolling, commenting, liking, sharing, etc.

Staying focused on big screens will just make the gap between Netflix and the young generation deeper over the upcoming years.

Which Competition Can Be Easier To Handle?

From the media content perspective, TikTok would just kill Netflix, and simple calculations are enough to see the validity of this assumption. The social media platform has over 1 billion users throughout the world, and many of these people actively generate daily content, which makes TikTok more “scrollable” than Netflix could ever be. The streaming platform cannot afford to spend millions of dollars on each movie just to feed the users’ mobile screens with endless videos.

On the other hand, gaming seems an easier competitor, because Netflix has adopted a smart approach which is developing games with the themes of famous series. This content solely belongs to the streaming company, which means only they have the right to create games based on the series we mentioned above in the article.

It's interesting that (it seems) no other streaming platform has decided to get into such a competition, mostly relying on producing interesting content for big screens. Time will show which strategy worked better, but until then, Netflix has a long way to prove the effectiveness of its strategy.

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