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What do you think of Internet outrage of companies raising their prices, chiefly companies like Netflix and fast food restaurants? I think morally, it seems pretty iffy- it's a free market, and if they raise their prices, you can just stop buying what they offer. If the government got involved to set any sort of price ceiling, I think that'd definitely be a bad idea that'd lead to a shortage of some sort.
But if the outrage lets customers act as a pseudo-monopsony which gives them more power, I also don't really mind if they're able to use it to demand cheaper prices, even if I think the accusations of corporations being evil are vastly overblown. Especially when it comes to keeping the price of something like Netflix low, where much of their value comes from having exclusive rights to stream old shows and movies instead of all revenue to them going towards making new stuff or improving technology. If consumer outrage keeps the Netflix price $5 cheaper than it otherwise would be, is anything hurt besides shareholder bank accounts?
I think a relevant factor - socially if not economically - is the fact that Netflix (and to a lesser extent its competitors) basically used loss-leading prices and venture funding to kill off or hugely hobble cable television, independent studios for TV shows and animation, and other competitors to it's model.
Then once all the other sources of this type of media are dead in large part due to not being able to compete with Netflix's pricing model, Netflix raises the prices, and customers have no surviving good options to turn to.
This is not an unusual tactic - loss leading prices are common, tech firms cornering the market while losing huge amounts of money and then turning around to hike prices and degrade services to turn a profit are common. But it does in a very real way hurt the consumer by crafting a market that is hostile to their interests and is low on competition, where following their short-term interests harms their long-term interests in a way that's frustrating and hard to navigate.
Customers have every right to be mad about that, and honestly I think even non-customers have a right to be mad about what it does the media and the culture more broadly.
I agree with /u/freemcflurry that there's still lots of competition- Netflix has not led to much infrastructure degradation, and people can switch back to the old model or a modern competitor without much difficulty. Plus there are still lots of alternatives to television- people can still see movies in theatres, buy blu-rays, read books, watch youtube and tiktok, hell even pirate shows and movies.
Netflix has not meaningfully "cornered" the market. No more than Blockbuster did anyway, and we all know how rapidly they fell.
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