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Comment on Netflix confirms it is increasing subscription prices, again, after adding 8.8 million customers
egeres@lemmy.world 11 months ago
When did netflix become a FAANG company? What do they have that is so valuable? To me it seems like they don’t develop any particularly incredible tech besides streaming and storage
Yearly1845@reddthat.com 11 months ago
CmdrShepard@lemmy.one 11 months ago
I’ll bet they didn’t want to create the acronym without the N so they just found a fifth company to throw in there.
Syndic@feddit.de 11 months ago
To me it seems like they don’t develop any particularly incredible tech besides streaming and storage
Well they pretty much single-handedly started the whole streaming on demand service for movies and series and rapidly grew accordingly. This success even allowed them to get into the production side of the movie and series industry. They also destroyed the DVD market and stagnated the Blueray market on their own.
Now they face more and more competitions after the other companies saw that there’s a lot of money in this. The lose of that monopoly of course impacts their success and they seem to struggle with it. But they still are a giant in that market segment. So it’s not surprising that they still are counted as a FAANG company.
gohixo9650@discuss.tchncs.de 11 months ago
and they seem to struggle with it.
they never struggled. The just cannot adhere to the “eternal growth” which is different than “struggle”. They were making millions. The “problem” was that they wanted each quarter to make more millions that the previous quarter. CEOs believe that there is an infinite amount of potential subscribers or even if they manage to make everyone on earth subscribe then they will eternally increase their prices every quarter. Or I don’t know, maybe their system has some flaws
dlrht@lemm.ee 11 months ago
They don’t develop any particularly incredible tech aside from the one their whole product is based around and enabled them to be an industry leader 🙈
spudwart@spudwart.com 11 months ago
Except Netflix uses AWS. Which makes it Amazon’s achievement.
Literally all Netflix did was get streaming rights before streaming was mainstream, grow because of it, have everyone drive off into the sunset with said rights and make it all shittier.
All Netflix offers these days is 2 season shows that end on a cliffhanger, concerning controversies that make the industry worse as a whole, and Sony movies because Sony doesn’t have their own streaming service for some reason.
dlrht@lemm.ee 11 months ago
Most of the internet uses AWS. Facebook uses AWS. Apple uses AWS. Should they not be a FAANGs then? What are you even getting at? Let’s not act like Netflix has no engineers and that it’s actually all Amazon’s engineering work
spudwart@spudwart.com 11 months ago
The main point the original comment made was that their “groundbreaking achievement” was their storage and streaming… which isn’t really their achievement.
Netflix’s technical achievement of DRM is Microsoft’s god awful silverlight bs.
Their achievement was being first and showing what streaming could have been. Now that all the big companies have divided off into their own direction, Netflix had to rely on their own content. And Netflix’s original content has become hollow, hype-bait, and frustrating.
CmdrShepard@lemmy.one 11 months ago
Why not list even a single one of these incredible achievements?
Toribor@corndog.social 11 months ago
The tech innovations are all a decade old at this point anyway. They are a media company now plain and simple. They produce and license movies and shows.
somethingp@lemmy.world 11 months ago
I mean FAANG stands for Facebook, Apple, Amazon, Netflix, and Google. So they’ve always been one.
EvacuateSoul@lemmy.world 11 months ago
Nah they bumped Netscape out
somethingp@lemmy.world 11 months ago
Netscape must’ve stuck around much longer than I imagined lol
egeres@lemmy.world 11 months ago
I know that the N stands for netflix, but like, why did people considered it important enough to be in the name? It sounds to me like microsoft deserved that spot
somethingp@lemmy.world 11 months ago
That’s a good point. I’m not sure why Microsoft doesn’t get a spot there. I think when the acronym was made these were the tech stocks that were growing like there’s no tomorrow, whereas Microsoft just always has steady growth, and isn’t as sexy.