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Netflix loses its two most valuable programs and their departure could be bad news for our portfolios.
After the departure of the "Office" in 2021, ad at the end of June, news was announced this week that "Friends" would also leave in 2020. Programs come and go from Netflix all the time. These particular losses will transform it for many subscribers and could transform the entire streaming industry.
Although "The Office" and "Friends" have both been out of service for years, a study conducted by Nielson from 2017 to 2018 revealed that they were the two most-watched shows on Netflix. Users spent 45.8 billion gigantic minutes watching "The Office" during this period, while "Friends" recorded 31.8 billion minutes of consumption, a fascinating model in the flood of expensive new content. By 2021, both shows will be gone from the platform.
Neither "The Office" nor "Friends" are directed to an established competitor such as Hulu or Amazon Prime. "The Office" will resurface on the upcoming NBCUniversal streaming platform; "Friends" will be available on HBOMax, the parallel effort of WarnerMedia.
Fans of both shows will need to add two subscriptions to their portfolios to maintain access and preserve their viewing habits. The hypothetical Netflix user who has spent years alternating between "The Office," "Friends," and the original content of the company will need at least three subscriptions by 2021 to maintain its current status.
The question is whether the loss of Netflix and the gain of the new platforms will be enough to hinder considerably his reign at the top of the sector. Users can decide to keep Netflix, subscribe to one or both of the other, or buy all three. Given the continued popularity of their shows, it seems likely that WarnerMedia and NBCUniversal will be able to attract enough users in their direction to impress. This means that we are in a more fragmented, continuous landscape (perhaps an appropriate complement to our fragmented programming landscape).
We do not have access to information about Netflix internal ratings. Not everyone looks at "friends" or "the office," and certainly not everyone looks at both. But enough people use Netflix to watch or show that their loss means that many people will have to make a decision about their streaming services. If the market does not demand a change in subscription prices, users who want to preserve their viewing habits may be faced with a sharp increase in their streaming spend.
The idea that two broadcasts could cause such a disaster to Netflix and the industry more generally may seem silly. But there is a reason why society has struggled to maintain these programs, and there is a reason for future services to ask for rights. If Nielson's study is accurate, we are talking about the two most popular shows on the most popular streaming service, which is a significant part of our collective audience. This is a big problem for both industry and our budgets.
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