Netflix, NFTs & CNN
2 years is a good enough time for sense-making. Circa 2020, OTT was on an upswing with rising COVID cases. And now, we have Netflix in the past week announcing the loss of 200,000 paying subscribers. Rising COVID cases is a constant.
On another note, there has been a ~75% decline in the market capitalization of non-fungible tokens (NFTs) in the last one month. NFTs were all the rage last year, with inflated sales and valuations. But the market is beginning to mature, Mint has reported.
An auction for an NFT of the first tweet ever fetched just $277 last week, which is a crash since being sold for $2.9 million by Twitter co-founder Jack Dorsey in March 2021.
CNN spent $300 million for 32 days of CNN+, $9,375,000 per day
Interestingly, CNN+, the much awaiting streaming service has announced its plan to shut down in less than a month of its launch. CNN+, the $5.99/month streaming offering from CNN, reportedly drew about 10,000 users per day. There had indeed been a management change and it doesn’t allude well for the new management have an independent service.
Are these events showing signs of maturity or just a blip owing to global disruptions. What do you think? Join the discussion here.
Until next time
~ Sajid
(Sajid is a Strategy Consultant and founder at Le Monturé Strategy, who works at the intersection of human behaviour, business design and innovation strategy. He blogs at sknotes and tweets @sajidkhetani)
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