The reason Netflix is struggling is because there are 20 other services doing the exact same thing. I just counted and I have 14 (!!!!) streaming apps on my Apple TV that directly compete with Netflix. Obviously, I'm not going to subscribe to 14 services simultaneously, I barely have any time to watch TV anyway.
So I rotate through services. I don't have Netflix more often than I have Netflix.
On the other hand, if I want to watch a Twins game, there is literally one place I can do that: Bally Sports North. If I want to watch a Wolves game, same. If I want to watch a Lynx game, same. If I want to watch a Wild game, same.
As a sports fan, it's a pretty easy choice for me to make. Either I give DirecTV Stream $93/mo to watch Twins (and more) games or I give Bally $15/mo to watch Twins (and more) games.