I think it’s a bit of both. Netflix knew that companies choosing to pull their content would be a threat, so they prematurely started producing content (famously starting with House of Cards and Orange is the New Black). Whether because they saw this as a threat or because of the perceived greater profitability of their own platforms (probably a bit of both), other studios started pulling their content from Netflix and setting up their own streaming sites.
And naturally, other companies pulling their content accelerated Netflix’s desire to produce their own content to ensure they weren’t left in the lurch.
I think it’s a bit of both. Netflix knew that companies choosing to pull their content would be a threat, so they prematurely started producing content (famously starting with House of Cards and Orange is the New Black). Whether because they saw this as a threat or because of the perceived greater profitability of their own platforms (probably a bit of both), other studios started pulling their content from Netflix and setting up their own streaming sites.
And naturally, other companies pulling their content accelerated Netflix’s desire to produce their own content to ensure they weren’t left in the lurch.
Yes, Netflix famously said they need to be HBO before HBO could become Netflix.