Netflix was baited with shows with limited resale rights - now expired. They saw this and frantically ramped up new show, some good, some bad. The film/TV major

Netflix was baited with shows with limited resale rights - now expired. They saw this and frantically ramped up new show, some good, some bad. The film/TV majors then entered via streaming and began to take back the air Netflix needed. Now we have excess streams from all the film/TV giants - none of which Netflix can sell. Netflix stands alone. The competing streams are priced to deny Netflix much air = maximise sharing losses in some rational way. I think they have picked a reasonable shareway.