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The competition against another media giant, Blockbuster, created Netflix in the first place. It wasn’t a state-owned monopoly.
by mypastself 3y ago
The competition against another media giant, Blockbuster, created Netflix in the first place. It wasn’t a state-owned monopoly.
- oblio 3y agoYeah, but there was no real competition for Netflix' main business, streaming, for at least 5 years, when everyone was happy with the show selection.
- mypastself 3y agoThat’s correct, and I’m personally dissatisfied with the content currently available on Netflix, as well as the distribution of content across too many services. But it would be disingenuous to describe it as a market failure when the market was responsible for creating the industry in the first place. If there’s a critical mass of consumers unhappy with the current streaming landscape, providers will be forced to improve or risk being replaced by superior competitors. That’s what happened to Blockbuster as well, and what I suspect is going to happen to many major providers in the coming years.