Posted on 04/20/2021 10:52:23 PM PDT by Oshkalaboomboom
When COVID-19 was still new and the world was homebound, Netflix reaped the rewards. But the streamer’s new subscriber gains have leveled off mightily. MarketWatch reports that Netflix gained 3.98 million net new paid subscribers in the first quarter of 2021, down 8.5 million from the previous quarter, and well short of the 6 million new subscribers predicted by Netflix three months ago.
Netflix also forecasts it will add only 1 million subscribers in the current quarter. The dicey numbers sent Netflix shares down 11% in after-hours trading, to below $500.
“We believe paid membership growth slowed due to the big COVID-19 pull-forward in 2020 and a lighter content slate in the first half of this year, due to COVID-19 production delays,” Netflix wrote in a letter to its shareholders. “In the short-term, there is some uncertainty from COVID-19; in the long-term, the rise of streaming to replace linear TV around the world is the clear trend in entertainment.”
(Excerpt) Read more at decider.com ...
“We believe paid membership growth slowed due to the big COVID-19 pull-forward in 2020 and a lighter content slate in the first half of this year, due to COVID-19 production delays,”
ROFL!!! what a joke!.... If anything, Covid HELPED streaming services!
And they are blaming it???
I guess pumping out child porn had nothing to do with it???
Naw!
Nah. It’s cuz we’re racist. Much easier to say that way.
Plenty of great Black actors, but the BLM push was total BS.
We canceled because of how woke they have become.
these people live for the quarterly earnings. alot of the top brass get options.
i canceled my subscription. A whole $12 per month. But a flood is made of rain drops.
they said “a pull-forward” - which means more people joined in 2020 than expected, so people who would have delayed joining to 2021, joined in 2020.
I haven’t joined any streaming service (don’t have a TV and haven’t had one for 12 years), but I can see how people getting bored stuck at home will have signed up for a streaming service in 2020.
Go ask Obama for the money back
Netflix is high-priced, stale content.
We get a lot of content off of Netflix that we can’t find anywhere else but we don’t pay for it. People hack into it, put it on download sites and we get it there. If the pirates bleed them dry that’s a bonus.
Plenty of great Black actors, but the BLM push was total BS.
........................................................
Plenty of great black actors, but the BLM push was total BS.
Dakota Johnson set to star in brand new Netflix period drama – but fans are divided
There is also the fact that Netflix is also facing a lot of competition from the other streaming services that seem to be popping up like weeds on a monthly basis, Hulu, Disney Plus, HBO Max, Amazon Prime, AppleTV, etc. Most have quality content of their own that is only available through that particular service and not Netflix. Most people don’t have the money or time to subscribe to all of them. I’m guessing many do what my family does, subscribe for a month, watch the new episodes of whatever series interest us on that particular platform, then cancel and subscribe to another content provider the next month and do the same thing.
We have 5 or 6 free streaming services that came preinstalled on our new Samsung 4K television, as well as links to Netflix and Amazon Prime that we never go to. You can also download Plex, which has a lot of neat free content. We actually have a cable tv box that they gave us for free with out Gigabit Internet and we never turn it on.
That’s called churn.
And it’s a huge problem for Netflix.
Peddling woke crap ain’t gonna help it.
But I’m starting to wonder if Netflix really exists to make money...
Prince Harry on collision course with Netflix over ‘one-trick pony’ approach
And this head scratcher. Bonkerton green lit for 2 more seasons, sans the hot guy person of color who just bugged out...
It’s only a bonus if Netflix exists solely to make money.
I’m beginning to wonder.
“But I’m starting to wonder if Netflix really exists to make money...”
Or if news organizations really exist to tell the news.
Or if churches really exist to share the good news of Jesus.
It’s enemy action, isn’t it...
Yes, pull-forward probably was real.
But so was losses from producing content customers decided to not pay for.
“Exclusive content” is over-rated. Customers want a complete library, not a unique one.
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