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.”

  • KinglyWeevil@lemmy.dbzer0.com
    24·
    11 months ago

    Yep, so they’re all going to continue to merge until there’s 1-3 mega streamers, then they’ll all add advertising, and we’ll have come full circle.

    Then there will be some new service which streams content directly to your brain and we’ll begin again and continue until we have advertisements in our dreams.