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Agreed. Netflix’s only option at this point is to merge with a large IP holder meaning Paramount (formerly ViacomCBS).

Netflix was not as aggressive as they needed to be in locking down must-see brands to 1) keep subscribers or 2) better negotiate with the content players.

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Well it turns out a lot of the big players own huge swaths of IP and ramping up a streaming service is a lot less hard. Netflix tried to build a moat with it's own movies, but I guess so did the Hallmark channel

Netflix also tried to be more PC than PC and drove a lot of mainstream viewers away. Perhaps they thought being over the top in culture wars would be their moat? Or perhaps they were just drinking koolaid?

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