Netflix, Inc. (NFLX) Responsible For 15% Decline in Movie Attendance and Hollywood Losses?

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In an article on BGR, it was reported that some new reports have depicted that people in the US are not going to watch the movies in the cinemas because of the massive influx of the streaming services like Netflix, Inc. (NASDAQ:NFLX). According to the data, people in the US, aged between 14 to 24, are more interested in streaming movies and TV series. In 2014, there was a decline of 15% in the in-house movie watching. This decline was around 17% the year before. The source said that part of these changing trends are because of declining quality of movies and lack of trademark series type movies like James Bond and Batman, but Netflix, Inc. (NASDAQ:NFLX) is the single most formidable threat to the movie industry if analyzed keenly.

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The source said that Netflix, Inc. (NASDAQ:NFLX) has an abundant supply of TV series and streaming content. Mobile devices are the number one target of the streaming company. According to another report, an average American person, aged between 14-24, spends around 2 hours on his mobile device. This depicts that potential of Netflix, Inc. (NASDAQ:NFLX) and similar streaming services. Netflix is not only increasing its streaming content, it has heavily invested in its own TV series content.

After House of Cards, Netflix, Inc. (NASDAQ:NFLX) is working on many other TV series. Marco Polo and some other science fiction TV series are coming and these would hurt the Hollywood industry. Netflix, Inc. (NASDAQ:NFLX) has a lot of plans in expansion of its business in the coming months.

Carl Icahn‘s Icahn Capital Lp holds close to One million Netflix, Inc. (NADSAQ:NFLX) shares.

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