Netflix shares crater 25% after company reports it lost subscribers for the first time in more than

[sl8]

https://www.cnbc.com/2022/04/19/netflix-nflx-earnings-q1-2022.html

Netflix shares crater 25% after company reports it lost subscribers for the first time in more than 10 years

PUBLISHED TUE, APR 19 2022 3:32 PM EDT
UPDATED 1 MIN AGO

Sarah Whitten

KEY POINTS

• Shares of Netflix cratered more than 25% on Tuesday after the company reported a loss of 200,000 subscribers during the first quarter.

• It’s the first time the streamer has reported a subscriber loss in more than a decade.

• Netflix blamed increased competition, password sharing as well as inflation and the ongoing Russian invasion of Ukraine for the stagnant subscriber growth.

[...]

[beaglelover]

1. That sucks. Netflix really does have great programming on their service. But there's so much more

competition these days, with Disney+, Peacock, Apple TV, etc. I hope Netflix recovers and comes back strong. Good news is a few of their very popular shows are starting new seasons soon so maybe they'll gain more subscribers.

[underpants]

11. This is a golden age of TV

The networks went into reality tv and back to cop shows. The creative world found new outlets on the streaming services. There are some truly remarkable TV shows on now and in the last let’s aay 10 years. Really really well done. Too many for me to watch and I love TV.

[PatSeg]

35. They raised their rates a short time back

It made them the most expensive streaming service available, even more than HBO Max. After over 15 years, I finally quit because of the last rate hike and I did it out of principle. I am quite sure I was not the only one.

[Renew Deal]

2. They also raised prices in January

Odd that they didn’t mention it.

[Poiuyt]

16. We dropped Netflix because they raised their prices

If they had better programming, we might have kept it.

[lame54]

28. Must have slipped their minds...

Can't admit a poor business decision

It's now called New Netflix

[sl8]

32. They do mention the price increase later in the article. n/t

[AZProgressive]

3. Netflix is good if I haven't seen most of their good shows

I mainly used it to watch Don’t Look Up and the new season of Ozark which I don’t like that much. After that I cancelled.

I stick with HBO Max I like their new show Winning Time and John Oliver. HBO has a better selection of films than Netflix.

[bucolic_frolic]

4. What's Netflix? /nt

[walkingman]

7. You're funny!!

[bucolic_frolic]

8. I've never used it

See no need for it in my life. I mean sure, I know what it is, but it's not relevant to me. That's what I meant.

[walkingman]

20. OK, understand. My DW and I watch a lot of TV in the evening, it's our entertainment. I don't

read as much as I used to and admittedly I do look on the internet a lot also. I have not gotten a smart phone (still use a flip phone with data blocked) simply because I think I am "online" enough with my desktop. However, in today's world not being able to at least receive a text is sometimes an issue so I am thinking of maybe biting the bullet maybe in the future.

Back to NFLX...because we seldom watch anything on OTA network except for PBS we had cable but it got so expensive that we decided to stop it and just stream movies, series, etc. NFLX has a lot of content that is enjoyable but after we use it for about a year or so we normally drop it and switch to another provider...BritBox, Hulu, AMZN prime, etc. it is very inexpensive when compared to cable and you pay on a monthly basis so easy to stop/switch.

Like anything else it all depends on what you choose to do. Personally I like to stream content - there are some really good choices and although I know I should read more - heck, I find it hard these days to stay awake on most books.

Peace

[Scrivener7]

5. They had a Covid surge and they raised their prices. This isn't a surprise. Probably

a good time to buy Netflix. They're not going away.

[OhZone]

6. Yeah, they're attitude is going bad-

Raising prices, cracking down on password sharing, and limiting some of the shows they have.

Like One Punch Man has only one season and is only subbed on Netflix.

There are two seasons out there and there is a dubbed version.

Oh well.

[helpisontheway]

9. I'm sick of them raising prices. I downgraded to the lowest plan now. Nt

[Wingus Dingus]

10. Honestly, most original shows and movies on Netflix and their competitors

don't interest me at all. There's only so much acting, writing, production talent available--and it's now spread very, very thin across a vast array of companies and channels producing new series and films. I have not been impressed lately. I don't watch Hulu's originals either. I re-watch my old favorite TV shows and movies.

[Tetrachloride]

13. Exactly

the Foreign Film section has been redeeming. Puts the other sections to shame

[mntleo2]

21. Luvs me some Korean drama!

Their ghost stories, crime drama, and historical stuff RAWKS.
Cat in Seattle

[Sympthsical]

14. Part of it is they cancel things, too

It seems like quite a lot of in-house shows end up being canceled after two or three seasons with no definitive, satisfying ending. I know I've increasingly shied away from shows I might be interested in, because I don't like investing in something that will never be finished. (I also started grasping this philosophy with books series. Authors can blame people like George R.R. Martin for this one).

I'm still spicy about Netflix cancelling Santa Clarita Diet on a cliffhanger. That show was so good!

Yes, networks have also always canceled shows, but it feels like Netflix does it an awful lot.

[miyazaki]

19. Good points.

[Tetrachloride]

12. I got tired of the B and C movies

Not much A

[dwayneb]

36. Ditto on this

My wife watches some content on Netflix I watch very little. I'd say that 90% of the titles I have ever searched for have not been available on Netflix.

It's a waste of money, not sure why we keep it, but it's hard to break habits sometimes.

It FEELS good to have another service to browse, but the reality is we almost always come up empty handed.

Not that Amazon Prime or other services are much better. They are all 95% useless crap as far as I can see.

[uponit7771]

15. What does Russia and Ukraine have to do with Netflix? thx in advance

[sl8]

17. Loss of 700,000 subscribers

"The company said that the suspension of its service in Russia and the winding-down of all Russian paid memberships resulted in a loss of 700,000 subscribers. Excluding that impact, the company said it would have seen 500,000 net additions during the most recent quarter."

[uponit7771]

37. ah

[Earth-shine]

18. Currently watching "Lost in Space." It's so good! It's got kids, but it's not kiddie.

I have already seen most of what's good (for me) on Netflix.

I hate their app interface on their website. I hate their ratings system.

They used to have true user reviews available. Then, their own Netflix-branded programming was getting slammed, so they did away with it.

[Emile]

22. Netflix blamed everything but their rate increase!

[sl8]

27. According to the article, Netflix said that the price increase was part of the cause. n/t

[Emile]

34. Watched CBS evening news and not a peep.

[Mr.Bill]

23. I guess I'm a luddite.

I still have DirectTV, and AT&T Wi-Fi.

[Tree-Hugger]

24. High prices and too many streaming competitors

Netflix is one of the more expensive streaming services out there. There is so much competition out there as well. Every network has it's own streaming service these days, it seems.

Netflix does have some good original shows and movies. Shows like Stranger Things and Bridgerton are a big draw. A lot of their original content is fluffy, which worked well during the pandemic, but may not be enough to hold attention spans as people get back to work and activities outside the home. I think the interface is the best out of the services I have (Netflix, Amazon, Hulu, Disney+ bundle). It's rarely glitchy, rewinding/pausing is smooth (can't say the same for Amazon or Hulu), it's easy to jump back into programs, etc.

It might serve them well to bundle with other streaming services, much like Disney+ did with Hulu and ESPN.

[BannonsLiver]

25. Maybe because much of their original content is low budget crap.

[BlueIdaho]

26. Seems to me Netflix overvalued their service

By raising rates and their customers are voting with their proverbial feet.

[jimfields33]

29. I'm watching Elite right now. I love it.

I’m glad they dubbed it in English. Great show. I’ve now watched 3 seasons in two days. Lol. Only 8 episodes in each.

[ProfessorGAC]

30. A Clear Admission From Major Investors That...

...the shares were grossly overvalued.
On January 1, they had a market cap of nearly $300 billion. On $25 billion in revenues.
It's been in steep decline for many weeks, and it's now down to $155 billion.
It's still far too high & many investors are going to lose truckloads of money by buying this ridiculously priced security.

[aquamarina]

31. Let me see if I get this right

Netflix has 200,000,000 subscribers. Netflix gets out of Russia because it’s the right thing to do and lost 700,000 subscribers. But for Russia Netflix would have had a net positive 500,000 new subscribers for Q1. Netflix loses 25% of its total value over the lose of way less than of 1/2 of 1% of its total subscribers. Seems like a bit of an market over reaction to me. As for the subscription increase - given the price gouging in energy and food costs a $1-2 increase in a monthly subscription doesn’t even come close.

[intheflow]

33. Funny how the article fails to mention the price increases.

I cancelled my account last month when they announced another price increase. That would be the, I don't know, 4th or 5th price increase in six years. The movies they offer for free suck, by and large, and their self-produced content runs about 50/50 for me. I liked their DVD service back in the day, so I signed up when my internet got fast enough for streaming in 2011. While their brand content has gotten better, the number and quality of theatrical movies they offered for free greatly diminished.

Also, boatloads of people subscribed during the pandemic, so no surprise if much of that lost capital is just from people who don't want to pay for a service they can no longer watch all day, every day.