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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
confused to commercially aware! trying to develop my commercial awareness
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<blockquote data-quote="confusedlawstudent" data-source="post: 123607" data-attributes="member: 17277"><p>Started this thread to keep a record of some commercial news stories I read and also hopefully get some discussion going about them to help develop my commercial awareness!</p><p></p><p>Commercial awareness is a completely new thing to me, and is definitely my biggest weakness in terms of these law firm applications, so hopefully doing this will help.</p><p></p><p>9/11/22</p><p>Today the most interesting story I read was Netflix's introduction of a reduced-fee subscription with ads.</p><p></p><p>I think this is perhaps a response to Netflix facing a huge decline in subscribers, and due to the cost-of-living crisis, a lower subscription cost might persuade more people to keep their subscription. However, I definitely would not pay for something that has ads anyway. This got me thinking about YouTube - over the years, it has seemed to increase the number of ads in one video to the point where there seems to be one every minute. I know a lot of people will now even watch YouTube videos through TikTok to avoid the ads. So it seems ads were one of the reasons for YouTube's decline, and I think it might be the same for Netflix. Especially because Netflix is charging for a service with ads, and YouTube was free. So I just don't see this being successful.</p><p></p><p>I wonder if the cost-of-living crisis might increase the popularity of what I call "actual TV", like BBC, where people just pay the TV licence fee and can get on demand (like BBC iPlayer), and all sorts of programs, as well as watching it on as many screens as you want, all without ads. Otherwise, I'm sure TikTok will surge even more since people can now watch films, TV programs, YouTube videos on the app for free and without ads (though the people uploading these things are of course infringing copyright. But it still happens and often goes unnoticed by TikTok). I think something arising out of people uploading films and TV shows to TikTok will essentially cause streaming services to be competing with a social media platform, which seems crazy. TikTok is really coming after everything it seems (even Google - might write another post about this actually!). I nevertheless think people will still use Netflix for reasons like loyalty and the huge popularity of some of the programmes like Stranger Things. So maybe a reduced price with ads will work for some people.</p></blockquote><p></p>
[QUOTE="confusedlawstudent, post: 123607, member: 17277"] Started this thread to keep a record of some commercial news stories I read and also hopefully get some discussion going about them to help develop my commercial awareness! Commercial awareness is a completely new thing to me, and is definitely my biggest weakness in terms of these law firm applications, so hopefully doing this will help. 9/11/22 Today the most interesting story I read was Netflix's introduction of a reduced-fee subscription with ads. I think this is perhaps a response to Netflix facing a huge decline in subscribers, and due to the cost-of-living crisis, a lower subscription cost might persuade more people to keep their subscription. However, I definitely would not pay for something that has ads anyway. This got me thinking about YouTube - over the years, it has seemed to increase the number of ads in one video to the point where there seems to be one every minute. I know a lot of people will now even watch YouTube videos through TikTok to avoid the ads. So it seems ads were one of the reasons for YouTube's decline, and I think it might be the same for Netflix. Especially because Netflix is charging for a service with ads, and YouTube was free. So I just don't see this being successful. I wonder if the cost-of-living crisis might increase the popularity of what I call "actual TV", like BBC, where people just pay the TV licence fee and can get on demand (like BBC iPlayer), and all sorts of programs, as well as watching it on as many screens as you want, all without ads. Otherwise, I'm sure TikTok will surge even more since people can now watch films, TV programs, YouTube videos on the app for free and without ads (though the people uploading these things are of course infringing copyright. But it still happens and often goes unnoticed by TikTok). I think something arising out of people uploading films and TV shows to TikTok will essentially cause streaming services to be competing with a social media platform, which seems crazy. TikTok is really coming after everything it seems (even Google - might write another post about this actually!). I nevertheless think people will still use Netflix for reasons like loyalty and the huge popularity of some of the programmes like Stranger Things. So maybe a reduced price with ads will work for some people. [/QUOTE]
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