Last quarter, one of Netflix’s most watched series was season four of The Crown, which has attracted more than 100 million households since the series began. His biggest film for this period was The Midnight Sky, the science fiction drama directed by George Clooney that has been viewed by 72 million households.
All of the debt that Netflix has amassed has enabled it to change its film schedule for 2021, when 70 new films are due to be released, more than one new film a week. The lineup features a collection of stars that can rival any Hollywood studio, including Leonardo DiCaprio, Meryl Streep, Dwayne Johnson, Idris Elba, Zendaya, Jennifer Lawrence, Gal Gadot, Naomi Watts, and Octavia Spencer.
There are still risks to Netflix’s cash-operated alley to streaming dominance. Hollywood has finally caught up, and much bigger companies like Walt Disney Company with Disney + and AT&T with HBO Max are now placing big bets on streaming, giving consumers more choice and threatening Netflix’s market share.
The continued emergence of new competitors with ViacomCBS’s Paramount + on March 4, and the continued strength of Amazon Prime Video and Hulu have resulted in a series of “switching” processes with consumers switching on and off various streaming services from month to month turn off . According to a study by consulting firm Deloitte, more people cancel their favorite shows on one service and then subscribe to another.
The January 2020 survey found that 20 percent of those who had paid for a streaming service canceled it the previous year. By October, when new services were brought to life, nearly half, or 46 percent, had stopped at least one of the services in the past six months.
