Netflix’s Speculative Fictions

Book excerpt: Netflix’s Speculative Fictions: Financializing Platform Television argues that Netflix’s scaled expansion has hinged upon its ability not only to create, but more importantly to communicate, new forms and flows of potential value in platform capitalism, wherein capital is mobilized not only from direct revenue streams but also the new value assigned to inputs and investments of data, debt, attention, behavior, taste, time, sociality, and speculation. To interpret and critique these new communications and projections of value, Colin Jon Mark Crawford performs a discursive analysis of the platform television industry leader Netflix and its ‘investor lore’: the multi-sited narrative of value found in the company’s investor relations materials and corporate communications, such as letters to shareholders, financial earnings reports, executive interviews, press releases, and blog posts. Netflix best represents the increasingly ubiquitous nexus of culture, tech, and finance industries that is platform television. To better understand the emergent financial logics of this relatively new media industry, we must first understand the speculative narratives and discourses of value which organize it. Scholars of media studies, television studies, technology studies, and economics will find this book particularly useful.