It’s “shakeout” time as losses of Netflix rivals top $5 billion
arstechnica.com
Disney, Warner, Comcast, and Paramount are contemplating cuts, possible mergers.

The world’s largest traditional entertainment companies face a reckoning in 2024 after losing more than $5 billion in the past year from the streaming services they built to compete with Netflix.

Disney, Warner Bros Discovery, Comcast and Paramount—US entertainment conglomerates that have been growing ever larger for decades—are facing pressure to shrink or sell legacy businesses, scale back production and slash costs following billions in losses from their digital platforms.

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“TV advertising is falling far short, cord-cutting is continuing to accelerate, sports costs are going up and the movie business is not performing,” he said. “Everything is going wrong that can go wrong. The only thing [the companies] know how to do to survive is try to merge and cut costs.”

  • Mario_Dies.wav@lemmy.dbzer0.com
    131·
    11 months ago

    Capitalists and pirates.

    One is a turpitudinous group of greed-mongers that engages in despicable acts, operating outside the bounds of all morality and civility, fueled by the pursuit of stolen wealth and ill-gotten gains, preying on innocents, not above committing the most heinous acts of violence against their very brethren for the slightest sliver of filthy gold.

    The other are pirates.

    • AllonzeeLV@lemmy.world
      81·
      11 months ago

      Pirates are at least honest in intention. “Give us yer shit or we take it by the means at our disposal!”

      Capitalists lie like breathing when it comes to their intent. It’s literally about getting more than the person accross the table. Many of them lie to themselves about this to feel honest. They call their greed and lack of integrity “rational self-interest” 🤣