Less than two decades ago, Netflix changed the Media & Entertainment industry forever while the CEOs of the Media Majors were sleeping at their desks. Are we about to watch a similar disruption unfold? Professional Investors seem to think so.
In 2007, the Media Majors of the time could not imagine the effect Netflix would have on the industry. Then, as now, the Media & Entertainment industry was doing well. The Media Majors were in control of who enjoyed the content they released, and when. They knew exactly what it took to deliver films to cinemas and tv shows to the airwaves.
What they didn’t understand was the audience, and what the audience really wanted. But they didn’t need to. Not really. They were making money hand over fist and shareholders were happy.
Of course, that was then. In 2007, Netflix gave the audience choice. When to watch. Netflix gave the world the power to binge. And it did. As global population grew past 8 billion humans, with an estimated 5.8 billion having broadband internet access, consumption of entertainment content exploded. The Media & Entertainment industry has been trying to catch up ever since.
