Part 6/10:
What many failed to recognize, however, was that Netflix was not merely another streaming service; it was the model for streaming itself. By attempting to create numerous alternatives to Netflix, studios inadvertently launched a new format war that did little but fracture the viewer's market. As more companies began to extract their content from the Netflix library, consumers were presented with a plethora of disparate streaming options, none of which could match the variety that Netflix initially offered.
Consequently, instead of bringing in subscribers, these competing platforms led to increased piracy, with readily available high-quality copies of new films circulating long before their official releases, bleeding additional revenue from the studios.