Media companies have gone all-in on investing billions of dollars in an effort to defeat the competition in the so-called “streaming wars.”
But a simple scroll through any major streaming service unveils a bunch of woke indoctrination programming that appeals to virtually nobody outside the woke left-wing outrage mob.
And this damning report exposed one corporation-killing problem that has NBC executives in the hot seat.
Media companies are paying the price for going woke
Many streaming services and media companies have completely surrendered to the woke mob in recent years.
Rather than creating content that appeals to a wide-ranging audience, these companies continue to roll out unwatchable, woke indoctrination content that nobody wants to watch.
As a result, many large streaming services have lost billions, with more subscribers canceling their subscriptions every day.
For example, NBC’s exclusive streaming service Peacock announced $2.7 billion in losses in 2023 alone.
More specifically, Variety reported that “according to Comcast CEO Mike Cavanagh, the platform saw $2.8 billion in losses this year (coming in under the $3 billion projected by the company back in January), and Cavanagh expects that figure to be the peak loss for Peacock heading into 2024.”
“We disclose what we ‘lose’ in Peacock for clarity, and it’s going to peak this year at $2.8 billion of losses,” Cavanuagh claimed in a statement to shareholders. “But don’t forget the counter narrative of, what would it all look like if we weren’t trying at Peacock? You’d be asking a different set of questions, which is where are the linear businesses going if you’re not trying to figure out a future for the powerful platforms you have?”
“I really like the organic hand we have against all the businesses that are the growth businesses we have, we don’t need to do anything inorganic acquisition-wise to make any of what I described happen,” he added.
Media executives are completely out of touch
Despite Peacock’s massive losses in 2023, network executives are declaring victory, essentially claiming that the massive losses provide an opportunity for massive growth.
Imagine your child only getting 50% of the answers correct on a test, only to declare victory with the premise that he/she will likely do better next time because it can’t get much worse.
However, a closer look at the media industry shows that NBC has no reason to celebrate.
Former media giants Sports Illustrated, the Los Angeles Times, and others have recently announced major layoffs, impacting thousands of workers.
Many experts attribute these mass layoffs to the revenue losses facing many media companies, such as Peacock.
Peacock and other companies like Disney have failed to produce any new and exciting content, causing fewer people to tune into their network, and subscribe to their services.
Economic experts believe that even more layoffs could come in the very near future for media employees across the globe.
US Political Daily will keep you updated on any developments to this ongoing story.