⚡ Netflix is following Nike's old path, but it is more dangerous than Nike and not far from death ❗ ️ Nike has lost young Chinese because of the rise of Xinjiang cotton and China-Chic. What Netflix has lost is the 'time' of young people around the world. Data doesn't lie, let's take a look at a set of data to know: Netflix's stock price has fallen by 40% in a year. The net monthly new users in the US market this year are all zero. The average monthly viewing time of members has dropped from 66 hours in the first half of 2023 to 49 hours in the first half of this year. The user churn rate in the United States increased by 16.6% year-on-year, which is twice the speed of the first three quarters. Even more deadly is that the viewing time of YouTube in the United States is already twice that of Netflix. The problem of Netflix is the same as that of Nike: it used to be a "must have" thing, but now it has become a "dispensable" thing. Nike's AJ1 has gone from being "hard to find a shoe" to being sold at a 50% discount, with scarcity disappearing and social currency depreciating. Netflix has gone from being a popular hit in "Stranger Things" and "Squid Game" to a background sound of "I don't know what to watch when I open it". Co CEO Sarandos himself admits that it has been some time since phenomenal works were created. When a brand no longer creates the impulse of 'must have now', it becomes a regular subscription service. Nike's lesson is that clearing inventory through discounts will kill brand premiums. The danger of Netflix is that relying on layoffs and cost control to support profits will kill content investment. Netflix has laid off 1000 employees, and the content director and film director have resigned one after another. Saving money is right, but when content companies save money, they save on the next Squid Game. Nike spent five years, with its stock price dropping from 170 to 34 and its market value evaporating by 80%. Netflix is currently down 40% in a year, and the market is still debating whether this is the 'bottom' or the 'halfway point'. The difference is that Nike still has at least one pair of shoes to sell. If Netflix loses its popular products, users can cancel their subscriptions next month. The cruelest part of the subscription system is that users can vote with their feet in just one second. With the popularity of short videos, Netflix is not far from death!