Streaming used to make stuff networks wouldn’t. Now it’s seeking safer bets.
There was a time when it felt like you needed a streaming subscription in order to contribute to watercooler conversations. Without Netflix, you couldn’t react to House of Cards’ latest twist. Without Hulu, you couldn’t comment on how realistic The Handmaid’s Tale felt, and you needed Prime Video to prefer The Boys over the latest Marvel movies. In the earlier days of streaming, when streaming providers were still tasked with convincing customers that streaming was viable, streaming companies strived to deliver original content that lured customers.
But today, the majority of streaming services are struggling with profitability, and the Peak TV era, a time when TV programming budgets kept exploding and led to iconic original series like Game of Thrones, is over. This year, streaming companies are pinching pennies. This means they’re trying harder to extract more money from current subscribers, through ads and changes to programming strategies that put less emphasis on original content.
What does that mean for streaming subscribers, who are increasingly paying more? And what does it mean for watercooler chat and media culture when the future of TV increasingly looks like TV’s past, with heightened focus on live events, mainstream content, and commercials?
