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Netflix shares drop 23% after it loses 200,000 subscribers

23 Comments
By MICHAEL LIEDTKE

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23 Comments
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not because of competition it is because they got woke and started political propaganda for Dems

-5 ( +11 / -16 )

Possible could get even worse cost of living crisis in the UK rising Electric and Gas prices will be interesting just how many will be forced to drop it and other such services.

12 ( +12 / -0 )

Netflix was good a few years ago but nowadays it's full of badly made utterly dismal Netflix originals. Even worse for those of us in Japan who can't stand Korean dramas and movies, lots of overseas content is not available here. I stopped using it a while ago, prefer Amazon prime video which also comes with Amazon music. Spotify will be the next to go down the toilet.

-5 ( +4 / -9 )

I love Netflix.

3 ( +6 / -3 )

That's the tirany of the stock market, it really doesn't care about anything but profit.

Also, as noted on other media:

 Suspending service in Russia after the Ukraine invasion resulted in the loss of 700,000 members.

We all applauded when these companies stopped their services in Russia, but the "market" doesn't care.

10 ( +11 / -1 )

I used to have Netflix.

I am a Criterion Channel subscriber, (since the start) very happy with it, movies from all over the world. Amazing place to meet the world and learn about many cultures . But I think it is only available in the USA and Canada.

Also they have a beautiful collection of Japanese films.

1 ( +2 / -1 )

I guess they discovered the price at which a lot of people were unwilling to pay for their service.

10 ( +11 / -1 )

Quality of content not what it once was. People sharing passwords. Too much pandering to minority interests. Adds up to this. Was anyway a vastly overvalued stick.

7 ( +9 / -2 )

Netflix used to have all the stuff. Now its all originals - which are good sometimes - but it moved from being a hub of content to like a TV channel. And not my fav channel. soz bro

3 ( +4 / -1 )

When it became political and minority tube I quit using.

2 ( +6 / -4 )

Get woke go broke.

2 ( +9 / -7 )

Bad time to be quitting, they just started releasing the final season of Better Call Saul yesterday.

As someone who remembers life in Japan before streaming services when all we had was Japanese TV to watch, I can't imagine ever quitting them.

5 ( +7 / -2 )

Weren't they bragging last year that they could raise the prices because people would simply pay for their service?

0 ( +0 / -0 )

Netflix prevented my suicidal thoughts during the lockdown.

Netflix prevented me from leaving the couch and trying to find a job.

2 ( +6 / -4 )

Too much lacklustre originals, too much restriction on what you can watch (though this can be circumvented using a VPN), and too many shows that they'll only host a few seasons of rather than the whole lot. Rectifying these will lessen the tide of people leaving, but it won't stop altogether. The price of everything is going up but wages aren't keeping in line, so people are having to cut non-essentials from their lives. Netflix is most certainly not essential. You want people to continue using it? You have to make it worth the money. Just because the execs think it is, doesn't mean the users agree. Clearly they don't.

0 ( +0 / -0 )

Netflix has a lot of K Drama

0 ( +1 / -1 )

It's not just Netflix - stream services got a boost the last couple years due to Covid social distancing, and now the tide is receding

"Streaming rivals dip as Netflix user miss signals slowdown"

https://seekingalpha.com/news/3824478-streaming-rivals-dip-as-netflix-user-miss-signals-slowdown

Since then, Netflix has been on a tear: It got into streaming, with Hollywood’s mostly unwitting help, long before Hollywood figured out streaming was going to be really big. Then Hollywood figured it out and launched a gazillion more streaming services.

But, again: Those competitors aren’t just a problem because they’re trying to take away Netflix customers’ time and subscription dollars. They’re also a problem because they’re taking away content Netflix used to have.

In the old days, Hollywood was willing to let Netflix have tons of its old TV shows and movies because it didn’t think many people wanted to pay to stream that stuff on the internet. Now the big film and TV companies have figured out they were wrong.

So they have taken back a lot of stuff that used to run on Netflix and put it on their own services — Friends is on HBO Max, for instance; The Office is on Peacock; and all the Disney stuff is on Disney+. And, crucially, they are competing with Netflix for new projects. So Netflix has seen a lot of valuable content disappear, while at the same time, it has gotten harder to find great new projects.

But Netflix compounded their problem by raising their prices twice in the last few years, and then intending to charge extra for password-sharing outside the household. That led to bad feelings, and many quitting Netflix

Also, Netflix left Russia due to Putin's war in Ukraine. So they don't have any more subscribers there

1 ( +1 / -0 )

Netflix and the year 2020's "Stay Home, Save Lives" advocates are one and the same.

0 ( +0 / -0 )

26% down in the premarket.

I guess people dont want to watch Obamas. Meghan Markle and Kneeler Kapernick produced content after all once they can actually leave their homes without a mask.

-2 ( +0 / -2 )

Maybe Elon can buy this too while he is buying Twitter. Would be a good set to have.

-2 ( +0 / -2 )

Netflix is now also thinking of following other streaming services by offering a cheaper subscription with ads - something that they didn't want to do before

"Netflix CEO now says he’s open to a cheaper, ad-supported plan - For ‘consumers who would like to have a lower price and are advertising tolerant’"

https://www.theverge.com/2022/4/19/23032869/netflix-ads-streaming-reed-hastings-lower-price

"Nearly half of Netflix subs would choose a cheaper, ad-supported option"

https://www.fiercevideo.com/video/nearly-half-netflix-subs-would-choose-a-cheaper-ad-supported-option

Hub's research presented current Netflix subscribers with a hypothetical ad-supported tier and 46% said they would choose an option that includes pre-roll ads for $5 less per month. However, only 39% would choose the less expensive plan if it meant watching pre- and mid-roll ads.

0 ( +0 / -0 )

If this inflation wasn’t at 4 decade highs people could afford to watch TV. Most can’t even do that anymore.

-1 ( +0 / -1 )

Netflix's subscriber base when down from 221.8m to 221.6m paying customers, a reduction of less than 1%, and their shares went down 23%.

The stock market is amusing.

1 ( +1 / -0 )

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