Netflix shares crater 25% after company
reports it lost subscribers for the first
time in more than 10 years
CNBC,
by
Sarah Whitten
Original Article
Posted By: Rand Al'Thor,
4/20/2022 4:55:11 AM
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.
Reply 1 - Posted by:
Wetenschapper 4/20/2022 5:13:16 AM (No. 1133112)
Thanks to OP for that heads-up. I'm not familiar with Netflix or streaming services in general , but the article left me with the feeling that there was something the author was tiptoeing around, trying to avoid saying.
14 people like this.
Reply 2 - Posted by:
DCGIRL 4/20/2022 5:18:44 AM (No. 1133117)
Just a little reminder, Barry, Michele and Rice are on the board of directors. When they entered, the viewing started to decrease. Just like everything that these 3 touches, it goes down the drain.
39 people like this.
Sometimes when a corporation openly bribes someone with a cushy job, or a book deal, or an art purchase....the public revolts. Netflix and Disney are going to see that red line.
30 people like this.
Reply 4 - Posted by:
franq 4/20/2022 5:57:33 AM (No. 1133134)
We had it for a number of years. Our daughter, who is living with us, paid for it.
She recently cancelled. We went through a phase where we watched a lot of Forensic Files, but that ended. Wife and daughter watched it some, but it really got minimal use.
14 people like this.
Reply 5 - Posted by:
Sully 4/20/2022 6:27:32 AM (No. 1133148)
Was a customer since the snail mail DVD days. Dropped the service after they aired the pedo show of sexualized little girls.
Glad to see the "creative destruction" component of the free market system do it's thing.
19 people like this.
Reply 6 - Posted by:
judy 4/20/2022 6:33:52 AM (No. 1133151)
After spending millions on Obamas, Megyn & Harry series their subscription decline????
30 people like this.
Reply 7 - Posted by:
hershey 4/20/2022 6:57:59 AM (No. 1133160)
They lost me when they went 'woke' and hired the obamanator and Michael....
21 people like this.
Reply 8 - Posted by:
F15 Gork 4/20/2022 7:02:41 AM (No. 1133163)
Perhaps, now that the Covid Hoax is over, folks just aren’t that glued to the tube anymore.....
12 people like this.
Reply 9 - Posted by:
Rather Read 4/20/2022 7:06:30 AM (No. 1133167)
I can find a few good things on Netflix but they are mostly cooking shows. Currently, I am watching Better Call Saul (excellent) and waiting for The Crown and the Great British Bakeoff. I saw an ad for a series about American National Parks but it featured Obama so I passed it up. Most of their original stuff is pretty bad. Don't Look Up was dreadful and got nominated for an Oscar.
10 people like this.
Reply 10 - Posted by:
Aubreyesque 4/20/2022 7:14:39 AM (No. 1133169)
Netflix has been Markled. Drop her and the Obamas as well as that Cuties movie and you might find a customer base again.
21 people like this.
Reply 11 - Posted by:
Bur Oak 4/20/2022 7:20:36 AM (No. 1133171)
No need to pay for junk when lots of free junk is available.
19 people like this.
Reply 12 - Posted by:
Lazyman 4/20/2022 7:29:17 AM (No. 1133176)
They need more black and woke shows. More shows on how guilty people spent time in jail but now they have figured out somehow that they are innocent. Keep digging down when you're in a hole.
13 people like this.
Reply 13 - Posted by:
Connor 4/20/2022 7:43:45 AM (No. 1133183)
I had Netflix for over 10 years. I can never find anything to watch. I don't want to watch glorification of homosexuals. I am white and do not appreciate commercials that are 100% black and mixed couples. That is not the real world. They lost me. I also canceled Hulu. Amazon Prime will be next.
20 people like this.
Reply 14 - Posted by:
AnotherYank 4/20/2022 7:48:56 AM (No. 1133188)
Netflix and Amazon seem to be two of a kind: They both increased their prices and invested billions in expensive series that disappoint their paying audience, who expected to see their favorite stories adapted to the screen -- not to see something unrecognizably "updated" and "woke." I don't what Netflix expected; to anyone with an unbiased brain, this was predictable.
9 people like this.
Reply 15 - Posted by:
TJ54 4/20/2022 7:50:57 AM (No. 1133190)
The “Obama Golden Touch”
11 people like this.
Reply 16 - Posted by:
TJ54 4/20/2022 7:53:05 AM (No. 1133192)
The Obama Golden Touch!
4 people like this.
It’s got Obama on its BOD.
He’s a woke idiot. So their programming is pure woke propaganda. Boring!
15 people like this.
Reply 18 - Posted by:
broken01 4/20/2022 8:08:20 AM (No. 1133207)
I had Netflix as my only streaming service but cancelled when they hired the Odiot and his Wookie wife as board members. I couldn't stand them when they infested the WH. My friend joked about getting CNN + and I told him no more streaming services for me.
12 people like this.
Reply 19 - Posted by:
chumley 4/20/2022 8:16:46 AM (No. 1133218)
Dear Netflix, Not every important person in human history and literature was black, gay or trans. As soon as you make that casting call you have already wrecked the story. I will not only not pay for that, I wont even accept it for free. You are not welcome in my home.
19 people like this.
Reply 20 - Posted by:
The Remnants 4/20/2022 8:43:05 AM (No. 1133241)
I believe that Ms. Meghan and Master Harry are also connected to Netflix. You do get what you pay for, I guess.
11 people like this.
Reply 21 - Posted by:
columba 4/20/2022 9:23:20 AM (No. 1133282)
I have not had the "pleasure" of seeing or hearing or smelling Netflix, thank God).
6 people like this.
Reply 22 - Posted by:
bigfatslob 4/20/2022 9:45:51 AM (No. 1133304)
What happens is their woke approach to programing and advertisement. I can't stand normal dish TV with all the black ads and insulting reality shows with vulgar black people. Netflix introduced Obama and Susan Rice and that killed much of the Netflix audience right there. Never had Netflix and never will I not a tv/movie buff. Good riddance to all of them including Disney.
4 people like this.
Reply 23 - Posted by:
mc squared 4/20/2022 10:07:59 AM (No. 1133330)
Among other things, they blamed it on Putin: 'Netflix blamed increased competition, password sharing as well as inflation and the ongoing Russian invasion of Ukraine for the stagnant subscriber growth.
2 people like this.
Reply 24 - Posted by:
MickTurn 4/20/2022 10:08:43 AM (No. 1133331)
Yep the subscribers are Flicking Netflix off their finger like a bad bugger!
3 people like this.
Reply 25 - Posted by:
lennon47 4/20/2022 10:18:02 AM (No. 1133342)
I subscribe to Amazon Streaming and Netflix...both are liberal propaganda for the Democrat party. I get upset, cancel but return not finding another source for movies and tv series.
Can something point me to a place with a great selection of movies?
3 people like this.
Reply 26 - Posted by:
pensom2 4/20/2022 10:33:45 AM (No. 1133359)
My experience is that the Amazon Prime movies are even worse than the Netflix offerings. Loads of gratuitous profanity plus an inexplicable need to inject some brief but degrading brief sexual scene in an attempt to garner an "R" rating.
Many of the movies are poorly produced, with plots that become unbelievable because they had to rush through production without writing a credible resolution to the "mystery" behind the plot line.
2 people like this.
We canceled when Netflix paid a $40 million kickback to the obamas.
3 people like this.
Reply 28 - Posted by:
Sgt. Stubby 4/20/2022 11:15:15 AM (No. 1133408)
#25-" Tubi" is a free streaming service (with ads) that includes a nostalgia TV genre. The original 1957 Maverick , Columbo, Rockford Files,The Saint & Donna Reed are just a few options if you want a respite from dystopian TV. Lots of classic movies, too. Say goodbye to Netflix!
2 people like this.
Reply 29 - Posted by:
SALady 4/20/2022 1:11:51 PM (No. 1133478)
Sadly, by jumping on the bandwagon to go so far out of their way to appeal to less than 5% of the population that are mentally ill homosexuals and transexuals, they have alienated so many of the other 95% of normal people in this country -- especially those people with children.
It just so much easier to get rid of things like Netflix than it is to risk your children being exposed to the perversions that they try to pass off as entertainment these days.
1 person likes this.
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Comments:
The article lists "increased competition, password sharing as well as inflation and the ongoing Russian invasion of Ukraine for the stagnant subscriber growth". How about the "woke" format and the general low quality of programming. Also, the fact that BO and Susan Rice are on their board of directors.