“We compete with Fortnite more than HBO.” This matter-of-fact assessment from Netflix, the world’s biggest streaming company, provoked a stir among media commentators and analysts earlier this year. Yet the logic is there: Netflix has 149 million subscribers, compared with 250 million users of Fortnite’s Battle Royale gaming platform. Time spent on traditional media is in decline, and consumer attention is getting harder to win and keep. Content needs to be more and more engaging....
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