The talking heads on the mainstream financial media seem to be genuinely baffled as to why Netflix is bleeding subscribers, but the main reason is that once the marginal consumer has paid the food and gasoline bill, there’s precious little left over for streaming services.
Unfortunately for the bulls, this was not the quarter when NFLX was going to turn the business around because not only did the company report a huge miss to Q1 streaming subs but also guided to an even more catastrophic Q2 subscriber growth, when it sees a 2 million drop in subs vs expectations of a 2.4MM increase. The stock, needless to say, is imploding after hours and is down more than 20%!
It’s stiff competition from streaming service CNN+ that’s really putting the hurt on them.
Get woke, go broke. When you cater to a minority of a minority, everyone else gets tired of the lecturing about issues they simply don’t have and don’t understand.
Darn it! That was my line!
Kudos for coming up with it first!
Netflix saw net growth in both quarters.
I guess that’s why Netflix stock has dropped over 25% since the close.
Still saw net growth in terms of subscribers, panicky shareholders notwithstanding.
Of course, to many, actually serving customers is a pain in the ass when it comes to increasing shareholder value.
Its always the bean-counter vs the engineer.
Yeah. A growth in their subscription rates.
About 8 years ago I cancelled my cable service. When I wanted to watch TV, I would sit down, turn it on, scroll through the guide and flip through channels. After 45 minutes of this I would turn off the TV and do something else. It always surprised me how long I searched.
A month later my wife got us a Netflix subscription. Now when i want to watch something i scroll around for 20 minutes and always end up on youtube.
No kidding, same here. Netflix is missing a lot of late run movies, and making a lot of D grade schlock and woke crap, along with garbage documentaries.
Amazon has stolen Netflix’ thunder. No doubt also losing to other competition.
Good job Obama!
You guys need to DL “Stremio” from Google, install on your Android box or Nvidea Shield…or even on your phone and cast to your TV.
Watch whatever the hell you want…if it’s been digitized, You can search for it and watch it: Movies -Series – Documentaries …. You name it.
It’s FREE….
Whatever comes up on Disney or Netflix…?? I can get on Stemio.
I have not spent a penny on “TV” for 5 yrs….other than internet fees.
Paid my dues 10 fold.
Everything on Netflix has to check multiple boxes on the progressive list.
Must be loaded with of lgbtqrs.
Soyboys galore
Bad guys white males
Strong female lead, bonus if ambiguous ethnicity, latte colored skin
Children with autism.
Rewrites of history.
I get Netflix free, use a friend’s login, search for 30 year old movies I haven’t seen in a while then go do something else
Exactly. That’s why we cancelled a couple of years ago. We’re happier with Amazon Prime: not nearly as woke and also a target audience that’s above 22 years old.
Yes, so far, but unfortunately Prime is getting more and more idiotic woke too.
Apart from the fact there is very little worthwhile content, who wants to support grifters like the obamas and the sussexes?
Half of their content is gay tranny crap and Obama
Britbox is the time-wasting instrument of choice in our house… Old British cop shows and comedies of the pre-woke era. We haven’t watched anything emanating from the Hellmouth, aka Hollypedo, in years.
Brit-Scot slang is great. Scenery too.
Irvine Welsh’s Crime has awesome shots of Edinburgh.
Shetland
Vera, set in Newcastle upon Tyne
DCI Banks, Leeds
Mallorca Files, fun in Spain
Shakespeare & Hatahway, Avon upon Tweed
Rosemary & Thyme, all over.
Well…sticking with my non conformist standard I will disagree with the majority here.
We are enjoying one fantastic show on Netflix….”Heartland” . The irony: it is a CBC production but the farthest thing from typical CBC.
And I don’t have to waste my time on CBC.
Highly recommend the wholesome family show.
There have been a few good series as well.
I will not watch anything produced, or broadcast by the CBC. I’ve even given up on HNIC. Man that Mclean fellow really went all out woke since they turfed Don Cherry!
If I’m missing out, it’s my loss, but I won’t give that evil corporation one iota of attention, let alone indirectly fund it. It’s bad enough I have to support it through taxes.
One decent Netflix original I saw recently is Apollo 10 1/2. Animated movie about a boy growing up in Houston during the summer of the moon landing. Wholesome and nostalgic, little if any political nonsense. Same director as ‘dazed and confused’
Also, I’ve been enjoying the app Tubi. Lots of old ‘b’ movies, stuff not available on Netflix.
Ps. I despise anything Amazon related including prime.
I used to enjoy “Heartland” until the almost bankrupt clan got prissy at the oil company that wanted to pay them money.
We have enough trouble with oil and gas being screwed in this country without the propaganda presented as entertainment.
Now if they would bring back “Pure”.
I’ve cut netflix, crave, 3 different newspaper sub’s, changed my tv, internet & cellular subscriptions. That’s $70 less a month going to entertainment. That doesn’t sound like much but that multiplies with the populous dealing with the increases in carbon taxes and inflation.
Raise prices – always a good move to retain and attract new customers.
Threaten to cut off kids access. Yeah … make those freeloaders pay!
Produce more garbage every day … well, they don’t even do that. It’s like one new series every six months, and it’s usually unwatchable.
I find that the number of black faces in the intro videos has an inverse relationship to watchability. Which is sad, because there are some very good black actors out there – just not playing English aristocrats from the 18th Century or Viking warriors etc.
Oh, I totally agree! I am a HUGE lover of history and there were no Black aristocrats ( I am looking at you Bridgerton!), Vikings or Black Anne Boleyn’s.
I found out about 15 years ago that the black population of the United States is 13.8% (there are more Hispanics) and only 3.8% of the Canadian population. First Nations, Aboriginals, Indians are only 1.5 million people so the size of Calgary and the surrounding towns. I am just so tired of all the catering to minorities. Do something worthwhile which I would be interested in seeing.
TCM for the classic pre woke oldies, especially if black and white.
They were Markled. It never fails.