In the 1930s and 1940s, the film studio MGM pumped out 50 new movies a year, most of which featured the world’s biggest stars at the time: Judy Garland, Clark Gable, Spencer Tracy, and countless others. MGM co-founder and lead executive, Louis B. Mayer, famously boasted that the studio had “more stars than there are in the heavens.” Not long after that, antitrust regulation and the advent of television ended Hollywood’s system of studio dominance, and no company has been as prolific since.
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- What is competition?
- What, specifically, is competition for the entertainment dollar?
- What is the difference between direct competition and indirect competition?
- Can you identify three examples of Netflix’s direct competitors?
- Can you identify three examples of Netflix’s indirect competitors?
- Why is it important for Netflix to continue offering quality content for subscribers?
- Why do you think they plan to offer a new movie every week in 2021?
- How might that strategy help differentiate Netflix from competitors? Be prepared to discuss your answers.