Streaming services are heading for a major shake-up in 2024, according to The Financial Times. While Netflix is making money, most other streamers aren't – and with losses of more than 5 billion dollars in the last year alone, Netflix's rivals are looking at cost-cutting, consolidation and maybe even exiting the streaming market altogether.
According to the FT, which has spoken to multiple industry analysts and insiders, entertainment conglomerates Disney, Warner Bros Discovery, Comcast and Paramount "are facing pressure to shrink or sell legacy businesses, scale back production and slash costs following billions in losses from their digital platforms." With the advertising market in a bit of a slump, TV revenues falling and increased costs the streaming landscape in 2024 is looking tougher than ever.
