Posted on 12/30/2022 5:00:44 PM PST by dynachrome
For 2022, Netflix shares dropped 50.6 percent, the most the stock has declined on an annual basis since 2011. For the first time, the once-invincible company lost subscribers for two consecutive quarters, ushering in a period of painful belt-tightening that has included several hundred layoffs.
Netflix’s decline outpaced the Nasdaq, which was down 33.1 percent for the year.
The left-wing streamer, which continues to have a production deal with Barack and Michelle Obama, is being forced to try new ways to juice revenue. Netflix broke its promise to never have commercials by launching an ad-supported tier in a bid to tap into the advertising market in the face of uncertain subscriber growth.
But the new tier has had an unpromising start. As Breitbart News reported, the plan accounted for just 9 percent of new sign-ups during its first month. In addition, Netflix has had to give back money to advertisers after failing to meet viewership targets.
(Excerpt) Read more at breitbart.com ...
None given
Update. There’s been a shakeup. Wonder how much, if any, is Harkles related...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.