Wow! Netflix sure got killed after announcing earnings after hours
Down $91 and still dropping.
qazplm135
(7,509 posts)(not saying you just the overall reaction I am seeing).
People were maxed out during the height of the pandemic watching streaming, now as folks venture out, it was destined to go down.
vercetti2021
(10,403 posts)Hiking up their fees and then announcing that they are cracking down on password sharing. Netflix hasn't learned that there is other streaming services now that are much more cheaper and have much more content now which don't care about password sharing. Netflix is gonna Blockbuster themselves if they don't change course.
Demovictory9
(33,864 posts)PoliticAverse
(26,366 posts)The companys customer base fell by 200,000 subscribers during the January-March period, according to its quarterly earnings report released Tuesday It's the first time that Netflix's subscribers have fallen since the streaming service became available throughout most of the world outside of China six years ago. The drop this year stemmed in part from Netflix's decision to withdraw from Russia to protest the war against Ukraine, resulting in a loss of 700,00 subscribers.
piddyprints
(14,816 posts)since they don't have much to watch and raised the price.
walkingman
(8,450 posts)are really taking a beating since FOY. An example is NVDA which beat their numbers and the stock took a beating. I still have a lot of tech growth companies including GOOGL and AMAZN which are underwater YTD but I think they (including NVDA) are legitimate profitable companies that over time will do well. My only concern is my age (72) otherwise I think they will be successful given time.
Auggie
(31,844 posts)localroger
(3,718 posts)When they tried to move beyond DVD's their plan depended on becoming the single source from which you could get any content you wanted streamed instantly. They built an infrastructure unrivaled by any competitor at the time to accomplish that. But in the end they couldn't unravel the knot of shifting license agreements and availability windows that curse the streaming industry. Instead of opening up the licenses the big content creators eventually started their own streaming services, and as a result you never know what will be available when or for how long. That's simply not a premium service, no matter how hard they try.
Their original DVD business has contracted a lot but remains solid with a constant core of users who either don't have good enough internet to stream or don't like the availability problem. While some new stuff isn't being released on DVD anything before 2015 or so is always available because once they're pressed DVD's are physical objects subject to the doctrine of first sale, and Netflix can rent them to anybody they want whenever they want until the DVD breaks in half. I don't watch a lot of TV so the 8 discs or so I get per month are well worth the cost of the 2 disc out at a time plan.
Unfortunately, the promise of streaming is being ruined by a problem which is not technological, but legal. Until there is something like a universal permanent license that most of the content creators will agree to so all the content is available from one source all of the time, streaming is going to be a minefield of shifting availability and service consumption. And being at the vanguard of that failure has not been a good thing for Netflix.
PatSeg
(49,751 posts)As far as I could tell, they were the most expensive streaming service available, though hardly the best. They were even higher than HBO Max. After using their service for over fifteen years, that increase was the final straw and I canceled. I kind of believe I probably wasn't the only one, so that may have helped contribute to poor earnings.
Boxerfan
(2,533 posts)I bailed it was a decent service but not worth a increased price. We had been subscribers for over a decade
PatSeg
(49,751 posts)that said Netflix lost users for the first time ever - 200,000. I remember the previous rate hike, when they said they were raising prices to produce more quality programming. Then they raised their prices again? I didn't see any great improvement in their content before. It was a terrible business decision.
https://www.democraticunderground.com/?com=view_post&forum=1002&pid=16609597
bluedigger
(17,153 posts)As a subscriber, I find less and less to watch there, simply because I have nearly exhausted their inventory of shows to my taste. But investors have become accustomed to 20% annual growth, which is unsustainable in any market, much less a quickly maturing and increasingly competitive one such as streaming entertainment. As long as they continue to invest in new projects I 'm sure they will give me some good shows to watch, and maybe the competition will make them focus on their prices a little more in the future. A guy can hope.
Auggie
(31,844 posts)So many of these new scripted shows feel repetitive thematically or just are un-compelling.