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As long as there are a couple of shows to engage subscribers, a few stand-up comedy specials for the weekend, some familiar archive content to veg out with, and something they can stick the kids in front of, customer retention is unlikely to be a problem while the price remains the same.
The shows may not be acclaimed modern classics like Game of Thrones as long as the recommendation function is working. Such is the power and granular nature of Netflix's algorithmic approach, this is entirely achievable.
Heck, the company tailors the preview artwork depending on your viewing habits (Stranger Things, for example, has nine different images) and tests multiple ranking algorithms on users at a time. This will become even more important as sheer volume of content renders word of mouth more difficult.
The tightrope Netflix walks is convincing people they're missing out if they cancel that subscription. Right now it's succeeding. But it's a fine line. There's so much choice now that we don't have to settle for 'good enough' TV. The days of Netflix as a must-have could be over.
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