What losing The Office and Friends means for Netflix
Losing its two most popular shows in Friends and The Office would seemingly be a big blow for Netflix, but will the impact really be that significant?
Run to the television and throw on an episode (or three) of Friends or The Office, because there’s an end date for both on the Netflix platform.
WarnerMedia announced that it will be taking Friends off of Netflix when it unveils its streaming service HBO Max in 2020. It paid $85 million for the rights to the show for five years.
In other recent news, NBCUniversal will be taking The Office off Netflix when it debuts its streaming service in 2021. The terms of the deal are reportedly five years, $100 million.
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Friends and The Office aren’t just hit shows of the past; in fact, they are reportedly the two most-watched shows on the its platform. As streaming competition increases, these losses would seemingly be a major blow for the platform.
(Below is the current/projected pricing of some of the streaming competition)
- Netflix: $13/month
- Disney +: (launches November 12th): $6.99/month
- HBO Max: (launches 2020): $15-18/month
- NBCUniversal: (launches 2021): $10/month
- Hulu: $5.99 (ad) – $11.99 (no ad)/month
But will a meaningful number of people actually stop subscribing to the streaming giant due to these two departures? And will a meaningful number of people that otherwise would have subscribed choose not to as a result?
Friends and The Office are undeniably adored, and for many viewers, watching these shows may very well be the pinnacle of the Netflix experience. There’s an argument to be made, however, these shows aren’t the type of content that really attracts/maintains its subscriber base.
Isn’t subscriber growth driven especially by newer and “mainstream” Netflix shows? Isn’t releasing new shows or seasons the best way for the service to attract subscribers?
Think of another big Netflix show in Stranger Things, and imagine it was announced the next season was being moved to a different streaming platform you didn’t subscribe to. THIS might have an impact on subscribers, causing them to perhaps switch to the other platform.
Losing Friends and The Office is definitely unfortunate, but people have seen these shows countless times and know the stories backwards and forwards. Wouldn’t getting “shut out” of the remainder of a story like Stranger Things be more painful?
If a subscriber has even one Netflix show they love that has additional seasons on the horizon, will they really be able to unsubscribe? If their “one” show were to leave the platform (which would be unlikely), unsubscribing would seem more realistic.
Theory: New content is primarily responsible for growing and maintaining Netflix’s subscriber base, but while subscribers are “locked in,” many derive “peak enjoyment” from shows like Friends and The Office. Losing these shows will surely hinder the Netflix experience, but not enough to impact their subscribers numbers in any substantial way.
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Overall, Netflix would obviously have preferred to keep Friends and The Office on its platform, but these losses likely won’t make much of a dent on its subscriber base. With emerging streaming competition, it could very well lose market share in the coming years, but if this happens, losing its two most popular shows likely won’t be a significant reason why.