If you went back to 2019 and started reading a lot of articles on the streaming industry, you would quickly come to the conclusion that the streaming industry would soon be rolling in profits, churning out cash in the summer of 2023 the way cable systems did twenty years ago in the heyday of the pay TV business.
Then, if you skipped back to 2023 and you started reading recent articles about streaming services axing shows, cutting costs and still not making any money, you might come to the conclusion that something has gone horribly wrong. Even though most consumers have embraced streaming, the streaming bubble has burst. The major streaming companies are still swimming through billions of dollars in red ink.
