Will Netflix Survive If It Keeps Losing Shows Like ‘Friends’ and ‘The Office’?
If you’re like most Netflix subscribers you’re happy to turn on your TV and let your favorite shows run in the background of your day. Maybe you’re a casual viewer or a die-hard fan, but whatever the case Netflix has been home to our favorite shows for what seems like eons. We’ll tune in to watch Friends or The Office again and again, especially if we can’t find anything new to watch. Unfortunately, all of that is about to end.
Netflix has let go of some of its most popular shows
Networks have realized that fans are no longer tuning in on a nightly basis to watch their favorite shows. Instead, viewers are waiting to watch them on next-day streaming services or waiting all together, in order to be able to binge-watch entire seasons. We’ve been happily watching Ross and Rachel’s on-again-off-again relationship on Netflix since 2015, it only makes sense that Warner Brothers would claim their hit TV show for their own streaming service.
Will Netflix survive if it keeps losing popular shows to other streaming services?
Luckily for Netflix, it started to produce some of its own original content. Shows like Stranger Things will likely keep Netflix from losing viewership. However, as The Office and Friends are about to be swallowed up again by NBC and Warner’s streaming services, some fans are already grieving the loss. NBCUniversal, who owns the rights to The Office, released a statement in June of this year that they will be bringing The Office to their own streaming services beginning in 2021.
According to analyst Michael Pachter: “It’s probably not as fatal to Netflix as the headlines may appear…I don’t think it’s good for Netflix, but I don’t think they’re going to lose a ton of subscribers immediately.”
Although Pachter does go on to say that Netflix will be losing more than half its content as Disney, Comcast and Warner start to pull their shows over the next five years.
Netflix is facing major competition
Friends and The Office are two of Netflix’s most-watched shows, but they aren’t the only thing leaving Netflix in the coming months. Disney is pulling all of its material too including everything in the Marvel Universe, Star Wars and traditional Disney kid’s content in order to begin offering their own streaming service, Disney+.
Netflix has a few other strong competitors in the marketplace as well. Hulu, for instance, is offering more original content than ever before and has its own successes with hits like The Handmaid’s Tale. Likewise, HBO offers all of its original and box office content on their various streaming platforms and have even partnered with Amazon to offer their subscription as an add on to the already popular Amazon streaming.
The future for Netflix may look different than what we are used to
Media and entertainment guru Barry Diller confirms all our fears in a recent interview, where he details the fact that things are going to be changing. But, he assures us that Netflix won’t be going anywhere.
“I believe that…no one is going to compete with Netflix in gross subscribers. I believe they have won the game,” Diller told CNBC’s Julia Boorstin. “And I think that there is nothing that I can see that’s going to dislodge them.”
Among his assurance that Netflix will survive is also the ominous foreshadowing of Disney being a top competitor for viewership, because it has so much money and such popular content.
So, Netflix will likely have to increase the amount of original content they are producing in order to do well in this new world of multiple streaming options.