After the “Great Netflix Correction,” Streaming Looks to Find New Pragmatic Footing

In 2023, the streaming industry shifted focus to profitability, emphasizing “peak losses” and exploring new revenue streams. Platforms like Apple TV+ expanded movie presence, while Disney+ reduced streaming losses but faced layoffs. Hulu clarified ownership but struggled with an outdated interface. HBO Max found success with CNN Max but faced labor controversies. Netflix made strides in advertising but stirred controversy with Squid Game: The Challenge. Paramount+ used partnerships for growth, Peacock gained in sports streaming, and Prime Video succeeded with Thursday Night Football. The industry prioritized proving profitability, diversifying content, and adapting to evolving consumer preferences.