There’s been a bit of bloodletting in the streaming video space, most recently with WarnerMedia’s closure of DramaFever. This Digiday story looks into what happened to the service, which mostly streamed Korean soap operas to American audiences. Simply put, that niche wasn’t a big enough business. And within AT&T’s WarnerMedia, which has big plans with an upcoming launch of an omnibus streaming app, DramaFever’s smaller subscriber base didn’t move the needle enough. It didn’t help that, according to this story, DramaFever had never turned a profit.
It’s another example of how these niche streaming services are far from guaranteed hits and for many the businesses are hard to sustain. It would not be surprising if there are more casualties to come.