Over the last decade, subscription-based business models became ubiquitous across all types of media companies. Their potential was quickly noticeable as revenue for advertising was diverting elsewhere and media consumption patterns were shifting. However, the latest industry news paints a different picture.

During the first earnings call of the year, in April, Netflix announced that it had lost 200,000 paying customers, its first subscriber loss in over ten years. The information about the undisputed king of streaming services worldwide sent Wall Street into a downward spiral that resulted in its stock dropping over 20 per cent on the day of the announcement.

Similarly, CNN+ – CNN’s streaming service – shut down less than a month after launching due partly to poor subscription numbers, but also to a change of heart from its new parent company. And although Amazon Prime and Disney+ have been adding new clients non-stop in the past couple of years, industry...

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