FT: ‘Shakeout has begun’ after $5bn streaming loss for Netflix rivals
The Great Rebundling is coming.
Disney, Warner Bros Discovery, Comcast & Paramount
face a reckoning in 2024 after losing more than $5bn in the past year from the streaming services they built
&
pressure to shrink or sell legacy businesses, scale back production and slash costs following billions in losses
&
a weak advertising market, declining television revenues and higher production costs
Netflix turned a profit and keeps chugging. Sometimes patience is the best strategy. (1st mover advantage never hurts)