From a Hacker News perspective, I wonder what this means for engineers working on HBO Max. Netflix says they’re keeping the company separate but surely you’d be looking to move them to Netflix backend infrastructure at the very least.
This is a very common narrative to this news. But coming into this news, I think the most common narrative against streaming was essentially "There is not enough consolidation." People were happy when Netflix was the streaming service, but then everyone pulled their content and have their own (Disney, Paramount, etc.)
Netflix was great when it was the only streaming service because all the legacy media companies licensed shows for cheap. They basically considered it bonus income like syndicated television.
Most of Netflix’s content at that time was very popular but was basically just reruns. The Office, etc. It was a time when you’d be hard pressed to find any movie resembling a blockbuster, just bargain DVD bin type of stuff.
If all the streaming services consolidate there will be less reason than ever to put effort into content. As long as most people stay subscribed the less they spend on content the better.
With an à la carte landscape that we have now, streaming services all have to fight it out in open competition to keep their service on your monthly bill.
It might be less convenient but it is better for content than having a market with just one, two, or three players.