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 ...
I don't miss it.
Hussein & Big Mike, Harry & The Ho...
Great job guys.
We do the “share a password” thing with our daughter (her acct). It costs us nothing but Netflix is about to do away with that feature. Then we’ll be gone.
Tech stocks - pretty much all tech stocks - got hammered this year, even Elon Musk’s Tesla.
Did woke content contribute? Probably, but Biden’s disastrous economic policies had more to do with it than anything.
As the late Ed McMahon would exclaim:
“Hy—Ohhh!”
I cancelled a month ago.
Try the Korean drama dubbed into English, The Extorodinary Atrorney Wu on your daughter’s account very little woke stuff but really entertaining.
Well I hate to break the preferred narrative, but Netflix is flopping around because it has no historical content. When it was the main game in town, everyone put their historical content on Netflix... Now they all have pulled their content and placed it on their own streaming services and Netflix is down to stuff its created (not much, and all relatively recent) and scraps it can find that aren’t part of the existing media giants for the most part... and on top of it has raised its rates as well.
Woke or not, the decline of Netflix was inevitable... there just isn’t much compelling... at $10- $15 a month to have ad free netflix is no deal.... And who’s going to PAY for an ad based model? Seriously $7 a month and you have ads too? Insane... get one of the other.. Ads or Fee, few are going to pay to watch shows with ads.
Disney for example whether you like them or not is something like $7 a month if you pay for it annually.
Netflix used to be a great deal, now, its not its charging premium prices for less than premium service.
Expect it to continue to struggle. Not going away, but its days of being the king are gone.
Gee, that’s too bad.
That’s just a shame. I really feel bad if my cancellation hurt them.
See post 9.. Netflix was going to come down to earth regardless of the overall economy... the value proposition just isn’t what it once was for them... and there are tons more options for viewers.
They definitely need to double down on pedobait like “Cuties” and more homo content for the LGBTWTF crowd. That’ll save them.
That’s what I call a winning business model.
Makes sense, especially since there have been major streaming entrants since then.
With the Obamas as content advisors, and idiot programs like Harry and Meghan, no wonder they are screwed.
O-bomb-a sums it up well.
Cancel Netflix and all of these other paid woke streaming services. No boycotts - just make a clean break. Don’t fund our own demise...not to mention waste your money.
If it wasn’t for Trailer Park Boys they’d be closing their servers.
my opinion
season 3 episode 5 epic
We also. They really sucked. Prime is sucky also.
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