Netflix will be adding “Seinfeld” to its service beginning in 2021. By then, it may be too late for Netflix to compete with all the other services. | Credit: AP
Netflix is apparently doing its imitation of the Black Knight from “Monty Python and the Holy Grail,” i.e.”I’m not dead yet.”
Netflix’s latest attempt to remain relevant is to secure streaming rights to all episodes of the hit NBC series “Seinfeld,” which will begin streaming on Netflix…in 2021.
For the past several years, Netflix has borrowed billions of dollars in order to become the leader in original programming so it could challenge Home Box Office. Yet despite all this talk about original programming, its latest big move is to license a hit series from NBC.
Talk about desperation to stop unstoppable competition.
Netflix Struggles to Stop the Bleeding
Netflix is in a boatload of trouble. In its most recent quarter, Netflix surprised the investment community by reporting a loss of 185,000 domestic subscribers. The estimates had been that they would add about half a million.
It can’t be underestimated how much of a shock this was to Netflix bulls and the stock market. While domestic subscriptions had been starting to plateau, nobody expected a decline. That meant those 185,000 subscribers had actively chosen to cancel their subscriptions.
Some of it may have been because of Netflix’s increasingly necessary price increases. Some of it may have been because Netflix’s content quality has been noticeably on the decline. Some of it may be because people feel overwhelmed by the amount of content on Netflix. I myself have trouble trying to decide what to watch because there’s so much content.