Content creation? Unjustifiably huge budgets on stars, sets and effects with pocket change relatively speaking for the scripts and stories, especially after the first season. $100m to buy a minor series about comedians in cars that cost $100k an episode to make. $100m! No wonder their financials look ropy.
> Didn't we beg for the ability to pick and choose what we actually want to pay for
Erm, no? Don't know about the US but the UK experience of cable and satellite was a basic package with dire content, then every interesting thing was £££ extra. By the time you had a reasonable selection you were at £50-£100 a month. more if you wanted the sport channels. So we didn't cable cut, we never signed up in the first place. Compared to the licence fee it was always appalling value. Netflix want nearly a whole BBC yearly licence fee, and deliver a tiny fraction of the content. Not that I like all the Beeb do. :)
When we cancel Netflix (very soon going on current programmes), it'll be back to terrestrial only as none of the streaming services now have "enough". So whatever comes to the BBC and Channel 4 then. I'd start torrenting again before subscribing to Amazon, Disney or whoever just to watch one interesting series, then hope I remember to cancel timely enough.