It’s “shakeout” time as losses of Netflix rivals top $5 billion
It’s “shakeout” time as losses of Netflix rivals top $5 billion
admin 2023/12/28 15:44Disney, 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.
Shari Redstone, Paramount’s billionaire controlling shareholder, has effectively put the company on the block in recent weeks
Learn more: https://arstechnica.com/culture/2023/12/its-shakeout-time-as-losses-of-netflix-rivals...
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.
Shari Redstone, Paramount’s billionaire controlling shareholder, has effectively put the company on the block in recent weeks
Learn more: https://arstechnica.com/culture/2023/12/its-shakeout-time-as-losses-of-netflix-rivals...
