After a two-week summer vacation break, #SOTD is back - onto number 51!
What is Netflix's real competition?
Prime? Hotstar? Apple TV+?
Well they are, but there's more.
You may think: Cable TV (Star, Sony, Zee etc).
That too, but there's more.
Of course, we have cinema theatres (which would hopefully continue to remain open!). And then we also have social media, gaming, hanging out with friends...
But wait, there's more.
Here's Reed Hastings, the CEO of Netflix, on what he considered their real competition, back in 2017:
Well, guess what there is a new competitor in town. And Netflix seems to be struggling to retain its grip on viewers attention as it once did... and as a result it's been enduring a steep fall in its stock price in 2022.
In Scott's article, there's one para which stood out for me:
The last two lines are a great example of:
- Contrast: Netflix's $17B content budget contrasted with TikTok's $0 (of course TikTok would be spending a lot of money on content moderation etc, but you get the point)
- Relatability: Instead of saying TikTok added (say) 185M users, he says it added new users equal to the populations of Japan and the U.K. Interesting choice, which may be relatable to his U.S. readers. Perhaps for India we could say, added users equal to the population of Maharashtra and Tamil Nadu!
PS: Here is the context for #SOTD and the 'Ultimate Guide to Storytelling Techniques' framework I use - in case you joined this series late! Here is the archive of previous posts. Click here to subscribe.