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Post by jdv on Apr 20, 2022 16:29:59 GMT -5
"Netflix Shares Down Nearly 40 Percent as Analysts Downgrade on Subscriber Fail Netflix shares continued their free fall Wednesday after analysts downgraded the stock following the left-wing streamer’s disastrous first quarter results that showed a loss of 200,000 subscribers and a projected loss of 2 million more in the months ahead. The stock fell as much as 12 percent in morning trading Wednesday, bringing the stock’s total loss since yesterday’s closing bell to more than 37 percent.
Since the start of the year, Netflix shares have plummeted a staggering 63 percent." ---------------------------------------------------
While this isn't the first time Netflix stocks have tanked, it is the first time during the age of streaming.
There are lots of reasons for this, but primarily its their dependence on self-produced shows and movies. And most of those shows... aren't great. Generally speaking if it has the "Netflix" tag on the thumbnail, it's an immediate pass.
And when they do pay for outside produced movies, it's for pure shit like CUTIES, the border-line child porn flick - a decision which cost them thousands of subscribers.
The biggest issue is that their library isn't that big, and you can't order movies on demand - if they don't have it, tough shit.
Through in channels like Tubi which are good and free (watched ALIEN last night, uncut & without commercials for free), and the rational for keeping Netflix diminishes, especially if you start choosing which on-demand service you're keeping as we all tighten our belts.
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Post by jdv on Apr 22, 2022 11:15:57 GMT -5
And 2 days later, it's even worse for Netflix, whose stock is now in a free-fall: "The fallout from Netflix’s first-quarter losses continued on Wednesday when the streaming giant’s shares closed down more than 35 percent. According to CNBC, the sharp drop “led to a wave of downgrades from Wall Street on fears over the company’s long-term growth potential,” resulting in a loss of more than $50 billion of its market cap. “It is now the worst-performing stock of 2022 in the S&P 500, down 62.5 percent year-to-date,” CNBC flatly stated. -----------------------------------------
Netflix isn't the only giant media company losing money hand-over-fist as Disney is seeing its stock crash as well.
And now for the truly funny part of it:
"With the closing of the second quarter, Netflix is projected to lose 2 million global subscribers. In a letter to shareholders on Tuesday, the company said the company’s content still remains popular but faces stiff competition.
It also cited the company cutting off its paid 700,000 membership in Russia for a sharp drop in global subscribers." ------------------------------------------------------
I believe this is called cutting one's nose off to save the face. How, exactly, Netflix cutting off service to Russia helps Ukraine is yet another odd business decision that should be defended.
Giant media companies who jump into politics - particularly the bandwagon variety - always end up looking like chumps at the end of the day, usually because the policies they're supporting are objectively ridiculous.
While Putin is a jack-ass of the highest order, Russia is so big it stretches across 11 times zones (vs 3 for the USA). Are we really to believe everyone in Russia is evil? Or more importantly, that cutting off Netflix actually hurts the Russian war effort?
Come on Netflix, your content features such wonders as "Teen Mom," "Is it Cake?" and "Gilmore Girls." Pretty sure the Russian people - who have witnessed 90 million people murdered in the past 100 years thanks to communism/Nazism - will survive not having your service.
Its this sort of bizarre self-aggrandizement that plagues younger people on social media... but teenage kids get a pass - they're teenagers.
Netflix, Disney, et al don't have that excuse.
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Post by Warpig on Apr 25, 2022 9:18:59 GMT -5
Only so much bullshit people are willing to put up with.
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