Netflix, the streaming wars, and the future of American entertainment

The average U.S. household pays for four streaming services.

HBO Max, Hulu, and Disney+ have all made their way into American media diets, each with its own unique entertainment offerings. Companies are competing for small paycheck chunks that can add up to big revenues.

But the streaming wars had to start somewhere. And that somewhere is Netflix.

Home of hit shows like “Stranger Things” and “The Circle,” the company has made a lot of news recently. But not always for the best of reasons.

Netflix has come under fire for transphobic comedy specials. The company also saw a drop in subscribers, losing as many as 200,000. Its shares dove 35 percent soon after.

In an attempt to steady the ship, the company laid off some 150 employees, announced plans to crack down on password sharing, and is pursuing the idea of offering a lower-tier subscription with ads.

What is the state of the streaming wars? And is Netflix’s place in the hierarchy under threat?