Too Long; Didn't Read
Netflix reported disappointing quarterly earnings in January and then Spotify reported yet another underwhelming quarter. The conversation has now changed to how the streaming companies will adapt to a shrinking pool of subscribers. Netflix, Hulu, HBO Max, or any of the other streaming services that comprise New Hollywood, you know what I’m talking about. We often think of waves of technological change ushering in massive changes in consumer behavior. But when you look at the details, things are never as clearcut as they seem. Technology doesn’t happen in a vacuum.