, Columnist
Billionaire’s SPAC Whistles Past Netflix Graveyard
Francois Pinault’s bet on music is a test case for the post-Covid digital economy.
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Netflix Inc.’s shock subscriber drop is rippling through the digital economy. After the end of pandemic-era lockdowns that glued eyeballs to smartphones, consumers are becoming choosier about their time and — with inflation surging — their money.
Yet as streaming and social-media stocks from Spotify Technology SA to Match Group Inc. fall in sympathy, will the song be the same for all tech firms fighting for our attention and subscription fees?