We all remember the terrible tale of The Great Depression of 1929-1939. It was a decade of economic downturn, economic crashes, and an immeasurable global crisis. We got a modern glimpse of such at the start of 2020 due to Coronavirus which bought up an epitome of disaster. In the start we saw heavy job losses, businesses failing and the middle class slowly dropping to a lower middle class, working-class or poor.
Many companies that sustained themselves through debts and loans were forced to pay back upon which they either coughed up the money, declared bankruptcy, or left. You’d be surprised to know that your favorite streaming service Netflix, was riding on many loans and advances to further its service towards users. But here we are, with more users continuing to stream the best movies on Netflix right now, the question of how Netflix survived comes up.
Netflix added almost 16 million new subscribers in their first quarter, an incredible milestone for the company that did not anticipate such growth. Many people have commented about how Netflix is the thing of the future, and it will sustain perfectly during the pandemic. Here, we will talk about how Netflix was supposed to collapse during the recession but didn’t. Let’s get started.
The revolution from TV to Streaming
When the pandemic came, the unemployment line extended. But unemployed does not mean bored. The TV sets of the house did become boring due to old reruns, canceled sporting events, no new productions in the pipeline, etc. Also, being in a large family meant more people wanted to watch TV as well. Netflix became the pioneer of this revolution and streaming became a sensational experience. It no longer required a fancy device and was cost-effective.
This was the dawn of the cable cutters as Netflix emerged victoriously. Why pay for a 100$ cable package when Netflix is just worth 13$ per month? The quality, video, quantity, and convenience Netflix offered was a bold step that replaced the TVs in many houses. Even if not TV, people cut their cords, downloaded the Netflix app on their TVs, and got an awesome streaming experience.
Although Netflix does not have live stream options, it did pave the way for people to discover and subscribe to streaming services for much cheaper costs and greater accessibility.
The downfall of cinema
Remembering the good old times, when the movie theatres would smell of burnt popcorn and large sodas. The lockdowns in the pandemic caused many cinemas to close temporarily (some permanent). It was enough time for Netflix to draw the attention of its users towards the world of streaming.
Even before the pandemic, we saw how production houses released a movie for theatres and later migrated the release on Netflix (like the movie The Irishman). The movie saw more fame and fortune on Netflix than it did in cinemas. Even though it was a Netflix-funded production, it still was screened in cinemas.
There is a major group of audience that still craves to be inside a movie theatre, and cinemas in some states are opening as we speak. But many have grown accustomed to the comfort and lifestyle of Netflix Streaming and claim to not go back. Another popular attempt in revitalizing the cinema experience is through the opening of drive-in cinemas.
The up-and-coming leaders in the production
Netflix was never just a streaming service. It evolved slowly from online DVD rentals to streaming and production house. In 2020, Netflix’s original productions reigned over the screens of the world. Their most iconic series and movies made it to award shows. in 2018, a Netflix feature entitled “Roma” bagged numerous nominations in Golden Globes, Academy Awards, BAFTA, and many more. It was a defining period for them, and their later productions came to fruition in 2020 and 2021.
We saw some delays in releases but ultimately, they were best to keep us glued to the screen. Other than new productions, Netflix consistently added new shows and movies, reviving some of our most favorite choices. Some may remember legendary shows like Seinfeld, That 70s Show, and movies like Schindler’s List, The Exorcist, etc. all are available on Netflix.
Some predict that there is a large gap in the middle due to strict lockdowns, which is why somewhere in late 2021, we might see a shortage of Netflix originals. The company is trying to delay some new releases so that the features get the right attention, but it is a costly move to delay such productions. The dry spell of Netflix is forecasted sometime at the start of 2022. But for now, Netflix’s pipeline is speeding up new productions like the recent release of Red Notice starring Dwayne Johnson, Ryan Reynolds, and Gal Gadot.
Conclusion
It is only a matter of time before the best directors, actors, writers, producers, and the whole world jumps to Netflix. The ease in a pandemic is hinting towards reopening of cinema and decline in streaming services. But Netflix as a streaming service has only seen growth in the pandemic and foresees an overall rise in subscribers.
One of Netflix’s upcoming productions is titled Don’t Look Up which features award-winning directors and actors like Leonardo DiCaprio, Jennifer Lawrence, Meryl Streep, Kate Blanchett, Jonah Hill, Timothee Chalamet, Ariana Grande, and many more. Netflix survives the pandemic and will thrive in the future.
