Realist, not conformist analysis of the latest financial, business and political news

Luvvie Wrong As Usual

Apart from ruining James Bond, Sam Mendes is also wrong about all sorts of other things

One last thing. While a huge percentage of working people have suffered over these past three months, there are also many (whisper it) whom Covid-19 has made rich. It would be deeply ironic if the streaming services — Netflix, Amazon Prime et al — should be making lockdown millions from our finest acting, producing, writing and directing talent, while the very arts culture that nurtured that talent pool is allowed to die. Is there anyone among those people willing to use a fraction of their Covid-19 windfall to help those who have been mortally wounded? If so, I hope you’re reading this, and that you are able to think of the arts landscape as more than just a “content provider”, but instead as an ecosystem that supports us all.  
Amazon Prime Video and Netflix have both been losing money for years. Amazon’s profits are a little bit from selling DVDs and barrels of lube, and mostly from their cloud hosting. They’ve pumped fortunes into making these things work. I’m not even sure how profitable this period is for them. They have more subscribers, sure, but all their subscribers are streaming more, and streaming video costs them money., with no increased revenue. I don’t see Netflix giving away their first year of profit due to a windfall, and it would be unfair to demand it.
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John B
John B
10 months ago

But isn’t watching Netflix et al and being entertained making those ‘poor’ panicdemic victims richer? If not why would they take out subscriptions or waste the time-cost of watching?

Additionally, the streaming services are mostly re-sellers, repeating programmes previously broadcast for which those involved got paid, those same individuals get residual fees each time the programme is shown. Netflix and Amazon are commissioning their own productions for which those involved get paid.

jgh
jgh
10 months ago

Four weeks ago I missed an episode of Harley Quinn, so watched it on E4 Catch Up. I missed last week’s episode, so went to watch it online before watching this week’s. Every attempt to try and find last week’s episode sent me to Amazon or Netflix sign-up pages. So I gave up. I’ll just have to cope with there being a hole in the continuity.

Spike
Spike
10 months ago

Not only has Covid made some companies richer, it has made some individuals richer, especially if the agitator gets to pick the endpoints. Three-or-so weeks ago was a very good week on the stock market, but nothing like the current week, ignoring the fact that most investors had to ride it down to be able to ride it up.

Never mind; CNN had an op-ed bemoaning that “windfall” when “so many are suffering”! Let us individualize losses and socialize gains.

Janner
Janner
10 months ago

UK TV and film industry quickly shut their doors at the first hint of trouble. They didn’t need to be instructed to close, unlike the rest of the economy. The production companies cut short freelancer contracts. They then refused to rehire and furlough when that option arose, causing almost the entire uk freelance TV and film crew to rely on savings or benefits. How would locky have gone without the goggle box? As Tim mentioned previously, the idea of key workers is spurious but try to take people’s telly away and things will get serious. Look at yourselves first, Mendes… Read more »

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