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© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.Netflix shares drop 23% after it loses 200,000 subscribers
By MICHAEL LIEDTKE SAN FRANCISCO©2024 GPlusMedia Inc.
23 Comments
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Dango bong
not because of competition it is because they got woke and started political propaganda for Dems
PepperLunch
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.
Michael Machida
I love Netflix.
koiwaicoffee
That's the tirany of the stock market, it really doesn't care about anything but profit.
Also, as noted on other media:
We all applauded when these companies stopped their services in Russia, but the "market" doesn't care.
proxy
I guess they discovered the price at which a lot of people were unwilling to pay for their service.
Wakarimasen
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.
Badly
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
Blacklabel
Get woke go broke.
rainyday
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.
Garthgoyle
Weren't they bragging last year that they could raise the prices because people would simply pay for their service?
Rodney
Netflix prevented my suicidal thoughts during the lockdown.
Netflix prevented me from leaving the couch and trying to find a job.
Fox Sora Winters
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.
Mike Donovan
Netflix has a lot of K Drama
lostrune2
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
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
Seigi
Netflix and the year 2020's "Stay Home, Save Lives" advocates are one and the same.
Blacklabel
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.
Blacklabel
Maybe Elon can buy this too while he is buying Twitter. Would be a good set to have.
lostrune2
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
Blacklabel
If this inflation wasn’t at 4 decade highs people could afford to watch TV. Most can’t even do that anymore.
GBR48
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.