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Netflix: Piracy is Difficult to Compete Against and Growing Rapidly
(torrentfreak.com)
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It wasn't Netflix's decision to pull the content people wanted to watch. That was content creators like Disney that pulled their content to start their new streaming services. Netflix was stuck with creating their own content, which as it turns out is hard.
It was Netflix's decision to add ads to paid subscriptions and limit browsers to 720p even for accounts that pay for 4k. Neflix isn't the only cause, but they are part of the problem