How Hollywood Drove Its Business Model Off a Cliff
Plain English with Derek Thompson
Legacy Companies' Misconception on Consumer Demand for Individual Apps
Legacy companies needed to adapt to the digital era by licensing their content to Netflix and creating TV everywhere apps. However, having multiple apps became cumbersome for consumers who wanted everything in one place like Netflix offers. The misconception was that consumers would want individual apps for each company's content, but in reality, they prefer a consolidated platform. This is similar to the concept of pay TV, where consumers were willing to pay for a bundled package even if they didn't want every single channel. It's comparable to the newspaper model, where readers would subscribe for access to specific sections.
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