Streaming TV is Having an Existential Crisis, and Viewers Can Tell

Streaming television is going through an existential crisis, involving the people who make it and the viewers who watch it. Its revolutionary zeal has naturally faded, as that initial wave of near limitless expansion, boundless creative opportunities and vast archival choices crashes ashore, after a spate of megamergers and a drop in new subscribers. From a report: Just when streaming has finally attracted more viewers than cable or broadcast TV, its major players are engaged in a long-predicted war for subscribers, who are becoming all too aware of rising subscription prices and, both subtly and directly, a change in what programs get made and how long they stick around. Commercials could soon become more common, and services may be bundled (for one low monthly price!), already triggering visions of a future that recalls the dark days of cable. The list of seismic rumblings in recent weeks is long, as chronicled in the Hollywood Reporter, Variety and elsewhere: Warner Bros. Discovery is cutting shows from its archives and unfinished movies from HBO Max as it prepares to merge it with its sister streaming service Discovery Plus, having promised its shareholders a $3 billion cut in costs. Faced with a plunging stock price and worrisome subscriber loss, Netflix plans to add an advertising-supported model for a lower price and may crack down on password sharing. Disney Plus, Hulu and ESPN Plus, which can all be subscribed to in a cable-esque bundle, are raising prices after taking a more than $1 billion hit in the fiscal third quarter. [...] The fear of having your show or movie deleted on an executive's whim -- a growing reality for many, including Katai -- is compounded by the fact that in the post-DVD digital age, viewers may never be able to access the shows again. Showrunners might not even have physical copies of their own work. And that's not the only downside for creators.

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