A funny thing happened in the first half of 2021: The insatiable appetite of consumers for streaming video content began to slow down. “We had those 10 years where we were growing smooth as silk, a…
The pull-forward suggests that while the COVID-19 pandemic accelerated streaming trends — to the benefit of Netflix and Disney+ in 2020 — it is now coming back to bite them. Consumers who may have been on the fence about subscribing were enticed to buy in as lockdowns were put in place last year.
“With 95 million Disney+ net adds in its first five quarters, momentum was bound to decelerate at some point,” wrote Wells Fargo analystIn the case of the re-opening, the same signs that are making movie theater owners optimistic for this summer are spelling concern for streaming executives. But instead of a physical commodity in short supply, it was new programming. “A lot of the projects we had hoped to come out earlier did get pushed because of the postproduction delays and the COVID delays in production,” Hastings said.
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