The journey of Netflix into the world of streaming commenced in 2007, shortly after the company celebrated the milestone of dispatching its billionth DVD by mail. This marked the onset of a transformation that aimed to allow users to enjoy video-on-demand content directly on their televisions rather than through a browser window on a computer—a common setup during the presidency of George W. Bush.

As internet connectivity improved and public interest surged, Netflix transitioned entirely away from its DVD mailing service by 2011. Streaming proved to be a viable avenue with immense potential, allowing subscribers to access a vast selection of content akin to its DVD collection, but without the hassle of returning physical discs.

The appeal was clear: amidst skyrocketing cable subscription prices, where viewers were paying for channels they seldom watched, Netflix (along with Hulu, which gained traction gradually but started around the same time) presented an attractive alternative—an expansive library of films available at any time for a mere $8 monthly subscription. This proposition proved economical even during the early years of the Obama administration.

Although there were some drawbacks—such as the need for a faster internet connection and a separate DVD plan to access certain classic films—the vision of a more streamlined and convenient entertainment future seemed promising.

Fast forward fifteen years, and the anticipated future has seemingly faltered, especially for cinema aficionados.

The Emergence of Streaming Originals

Netflix’s initial venture into original programming was through a direct series order for the political drama House of Cards, featuring Kevin Spacey and under the production of David Fincher, which premiered in 2013. Their decision to pursue this show was largely based on data analytics, enabling them to outbid traditional networks. They recognized a trend: Kevin Spacey’s popularity and David Fincher’s cinematic style were appealing to viewers.

Although data has always been a coveted resource in the entertainment sector, Netflix capitalized on uniquely detailed and timely data analytics that transcended typical survey results. They understood viewer behavior at an unprecedented level, paving the way for tailor-made series and films while reducing reliance on expansive licensing agreements for content owned by other studios.

Initially, Netflix invested considerable sums in acquiring content, spending hundreds of millions each year. However, as more studios developed their streaming platforms to recapture revenue previously earned from cable sales, Netflix’s library began to contract—from 11,000 titles in 2015 to approximately 6,000 by 2022.

The Golden Age of Streaming

Despite these challenges, the competitive landscape offered ample options for viewers, with new entrants ready to challenge Netflix. Disney, which historically restricted access to its catalogue, launched Disney+ in March 2020, offering an extensive array of classic films, much to the delight of animation enthusiasts and parents alike.

Meanwhile, Warner Bros. debuted HBO Max in May 2020, showcasing an impressive library that included classic films, beloved animations, and popular series. The platform even managed to secure the rights to Studio Ghibli films, an acquisition once deemed impossible by co-founder Hayao Miyazaki. For a period, browsing these services felt rewarding; although no single service had everything, there was a good chance that viewers could find what they desired across the platforms.

However, this golden era was short-lived.

Shrinkflation Hits Streaming Services

Amidst this rapid growth, streaming platforms began mirroring Netflix’s strategy of investing heavily in original productions while neglecting their older catalogues. After all, promoting new hits is easier than generating buzz for films that are decades old.

The reality became stark in 2022 when inflation and unexpected subscriber losses led to a significant drop in Netflix’s stock price—from over $600 to under $200 in mere months. This financial setback prompted all streaming platforms to focus on profitability, often resulting in the removal of substantial portions of their libraries. Throughout the subsequent year, major entertainment companies announced plans to eliminate vast amounts of older content, frequently raising subscription costs simultaneously. This phenomenon resembled shrinkflation, where viewers found themselves paying more while receiving less.

Where Have All the Movies Gone?

Referring back to the initial data insights, the findings indicated that audiences were less interested in older films—enough to abandon titles that hadn’t to gained traction in subscription metrics. This posed the question: why permit unrestricted access to films that most viewers were not inclined to watch when they could profit from rentals instead?

Many classic films have been redirected to ad-supported platforms like The Roku Channel and Tubi, where watching is marred by frequent commercial interruptions.

In recent years, streaming recommendations have increasingly leaned toward highlighting titles available for rental rather than those that are easily streamable. A decade-old film is often found exclusively as a digital rental, even if it is a beloved classic. Popular titles currently require an additional rental fee alongside any streaming subscriptions; classics like Citizen Kane, Double Indemnity, and The Shining now fall under this category.

Contemporary Releases Take Precedence Over Classic Films

While Netflix exemplifies the trend toward prioritizing original content and contemporary releases, the same pattern emerges across services such as Hulu, Paramount+, and others—many of which offer slightly better libraries but still focus on newer catalogs. Max stands out with a well-curated selection that includes films dating back to the silent era. Yet, even this service has seen a reduction in its classic offerings.

While the Turner Classic Movies (TCM) library remains the pinnacle for classic cinema enthusiasts, it has become more complex to access fully. Max does feature a limited number of TCM films, but to enjoy the complete experience with live broadcasts and exclusive content, one would usually need to subscribe to cable or another service like YouTube TV, which includes TCM as part of its offerings. However, these services are often accompanied by notable costs.

Top Streaming Platforms for Cinema Lovers

Max

While HBO Max may be missed, Max—its successor—remains at the forefront of streaming platforms for classic films. It boasts a diverse collection from Warner Bros. that spans from Casablanca to Goodfellas to The Lord of the Rings. Additionally, partnerships with A24 enhance its appeal among modern cinematic audiences. Cost: starting from $9.99/month with adverts, or $99.99 annually.

The Criterion Channel

Having emerged from the reputable Janus Films, The Criterion Collection positions itself as a provider of significant classic and modern films. The Criterion Channel excels in offering a rotating selection of thousands of films, encompassing major foreign and American classics, delighting viewers looking for timeless pieces. Despite its eclectic selection, past programming has included fan-favorites along with critically panned films. Cost: $10.99/month or $99.99/year.

Mubi

Similar to The Criterion Channel, Mubi focuses heavily on contemporary films, curating a smaller yet thoughtfully selected collection. Although compensated with newer works, their offerings maintain artistic integrity. Cost: $14.99/month or $119.88/year.

TCM (Turner Classic Movies)

The gold standard in classic film presentation, TCM is celebrated for its expert curation, introducing viewers to films that might otherwise have gone unnoticed. Full access to TCM requires subscription through cable or service providers like YouTube TV, which can feature TCM as part of their offerings. Financially, these options can be daunting. Cost: Sling TV: starts at $45.99/month, YouTube TV: begins at $82.99/month; Hulu+Live TV starts at $82.99 per month.