Too Long; Didn't Read
Netflix popularized the concept of streaming movies for a flat subscription fee in 2007 and cemented the idea in 2013, when its in-house production ‘House of Cards’ premiered. Netflix has been consistently increasing its spending on content, reaching $15 billion in 2019. Netflix faces competition from tens of other media streaming services that also offer original content: Prime Video, HBO, Hulu, Vudu, YouTube Premium, DC Universe, among many others. Some services will end up being shut down and media companies will return their content to current licensing model.