How many people remember the local Blockbuster Video? Back in the late 80s and early 90s, Blockbuster was at the core of a great many date nights. One could stop in, pickup a movie and some popcorn, and settle in for a relaxing evening. As quickly as they took over the movie market though, Blockbuster got run out of town by Netflix.
It appeared that going online to peruse titles and not worry about nagging late fees made Netflix the top dog. Suddenly, Blockbuster started closing stores and consolidating. Netflix seemed to have it all going for them, but soon the hunter became the hunted. Businesses like RedBox appeared, and Netflix began to show signs of crumbling.
Netflix needed something new to help them to stay afloat in the changing marketplace. They went about trying to offer original programming, which led to series such as “House of Cards” and “Derek.” The company experienced some success with these offerings, so they decided to try something a bit different. Netflix decided to revive an old Fox favorite, “Arrested Development.”
Arrested Development had a solid fan base and a cult following when the show was yanked off Fox in 2006. Fox could not afford to wait on mediocre ratings to rise, so they cancelled the program. Its fans though never gave up on the show and their patience was rewarded with the return of 15 new episodes being streamed on Netflix.
Netflix put a lot of money into advertising this new version of the show. It wanted to show that the old stars were still there while also updating folks on what happened the past seven years. The idea was great, in theory, because it should have gotten fans pumped up. Instead, market reaction has been negative, leaving the company going further into the red.
The stock price for Netflix has dropped close to six percent since they instituted the new rules at work. What is worse is that reviews are starting to come in, and they do not paint a rosy picture for Netflix. The new show has been referred to as an old reunion special or a big mistake. Even with the returning stars to headline the show, Arrested Development is doing little to help stave off disaster. Netflix was once the handsome doctor in this business. Now they are doing everything they can to try to keep from flat lining in today’s cut throat business world.