Posted on 04/20/2022 7:52:36 AM PDT by Brookhaven
Netflix on Tuesday reported a loss of 200,000 subscribers during the first quarter — its first decline in paid users in more than a decade — and warned of deepening trouble ahead.
The company’s shares cratered more than 25% in extended hours after the report on more than a full day’s worth of trading volume. Fellow streaming stocks Roku, Spotify and Disney also tumbled in the after-hours market after Netflix’s brutal update.
Netflix is forecasting a global paid subscriber loss of 2 million for the second quarter. The last time Netflix lost subscribers was October 2011.
“Our revenue growth has slowed considerably,” the company wrote in a letter to shareholders Tuesday. “Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds.”
Netflix previously told shareholders it expected to add 2.5 million net subscribers during the first quarter. Analysts had predicted that number would be closer to 2.7 million. During the same period a year ago, Netflix added 3.98 million paid users.
Co-CEO Reed Hastings said the company is exploring lower-priced, ad-supported tiers in a bid to bring in new subscribers after years of resisting advertisements on the platform.
(Excerpt) Read more at cnbc.com ...
Yes, what’s up with that? Aren’t there enough liberals out there excited about the Obamas and Netflix????
Just wait until the royals show comes on. That’ll turn around numbers!
Now down 35.5% and that’s up from the low.
Don’t forget the ginger cuck and his casting couch slut...
WOW!!!!!!!
I did not realize how catastropic the plunge has been. Down almost $500 per share in just over 5 months.
52 Week Range
212.51
04/20/2022
700.99
11/17/2021
Need more cowbell.
“Mar 16, 2022 · Netflix makes Volodymyr Zelenskyy’s show ‘Servant of the People’ available to U.S. streamers”
Hard to believe people are cancelling in droves with quality content like this being pushed.
The very woke, far left companies are crashing. First Facebook crashed 25% in January and now Netflix is doing the same. All from their terrible financial performance because of their far left crazy wokeness.
The Obama’s were paid back for his decision to allow streaming over the objection of legacy media. As with most boards they are very leftists and I suppose some of them chose to pay because they were “so fabulous” but it was mostly “pay to play” for the Obama’s and Rice.
This is how our nation works..... you can be in government and take actions that favor one and harm another and when you leave government you can start working for the entity you influenced the next day.
Gee... and I though ‘hiring’ the Obama’s to generate new content was a brilliant business move! /sarc
Yup.
Netflix Inc
NASDAQ: NFLX
224.72 USD −123.89 (35.54%)today
My friends it’s not that good. One John Wayne flick said it all. The rest are modern day crap. I’ll stick with TCM. It comes with cable subscription.
Better yet, get a collection of John Wayne movies and play them rather than subscribe to the leftist cable organizations.
If you subscribe to cable you financially support CNN & MSNBC.
The WORST thing a conservative can do is subscribe to cable.
You might as well vote Democrat. That’s where your money is going—to support Democrats.
So tell me: How do we get our programming?
Gold digger and the Fish part one ....
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