Netflix yesterday reported a loss of 970,000 paid streaming subscribers in its Q2 earnings after having lost 200,000 customers in the first quarter of 2022. The company's worldwide paid memberships decreased from 221.64 million to 220.67 million in Q2, and revenue growth has slowed dramatically.
It's the first time in Netflix's history that the company reported consecutive quarters of subscriber losses, The Wall Street Journal wrote. But the result was better than forecasted, as Netflix had told investors to expect a second-quarter loss of 2 million subscribers.
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Netflix Loses 970,000 Subscribers, Says Ads and New Fees Are Key to Recovery
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(Score: 5, Touché) by looorg on Thursday July 21 2022, @10:57PM (7 children)
Is that reverse-netflixing? Losing customers -- clearly we need more fees and adverts ...
(Score: 1, Interesting) by Anonymous Coward on Thursday July 21 2022, @11:33PM
The adverts are going to be on a new, lower cost tier. "Lower" meaning more than what ad-free Netflix used to cost, but less than what it currently costs.
It sounds like a joke, but lowering the barrier to entry is the only way to increase that subscriber number now that the market is saturated. And they've come up with the most half-hearted way to do it.
(Score: 5, Touché) by driverless on Friday July 22 2022, @10:11AM (4 children)
Yup. The floggings will continue until morale improves.
(Score: 0) by Anonymous Coward on Friday July 22 2022, @02:20PM (1 child)
fees and adverts will continue until morale improves
(Score: 3, Insightful) by DannyB on Friday July 22 2022, @06:47PM
fee increases and adverts will continue until we have zero subscribers.
How often should I have my memory checked? I used to know but...
(Score: 2) by Dr Spin on Saturday July 23 2022, @10:21AM (1 child)
I think you will find that slapping customers round the face with a wet fish is "The American Way"
Warning: Opening your mouth may invalidate your brain!
(Score: 2) by driverless on Saturday July 23 2022, @10:33AM
No that's the British way [youtube.com].
(Score: 2) by mcgrew on Saturday July 23 2022, @06:11PM
Loosing? Hardly, why would the set their subscribers free? Rather, they're losing customers the Blockbuster [mcgrew.info] way
Carbon, The only element in the known universe to ever gain sentience
(Score: 2, Funny) by Anonymous Coward on Thursday July 21 2022, @10:58PM
Come home Paddy Reilly to BitTorrent bluff!
Come home Paddy Reilly to seed!!
https://www.youtube.com/watch?v=xhrOpkYSO-M [youtube.com]
(Score: 4, Insightful) by Snotnose on Thursday July 21 2022, @11:01PM (5 children)
cuz that's ass backwards. Somehow I don't think a legit MBA would conclude that you add customers by adding stuff nobody wants, and charging more for the inferior service.
I just passed a drug test. My dealer has some explaining to do.
(Score: -1, Offtopic) by Anonymous Coward on Thursday July 21 2022, @11:26PM (2 children)
Seems to be working for SoylentNews. "Beatings will continue until subscriber numbers increase!"
(Score: -1, Offtopic) by Anonymous Coward on Friday July 22 2022, @07:28PM (1 child)
Oops! SN has lost another one! Maybe it was just the crap content, and lack of interesting discussions, or all the damn nazi talking, but could be, censorship?
Not saying who it was, or what the username was, but just to let you know that "following the rules" is more difficult than it looks, when you have an admin that hates you. Janrinok is no longer letting this name be used.
(Score: -1, Offtopic) by Anonymous Coward on Friday July 22 2022, @09:43PM
How many unique visitors and long time contributors have been banned now, all for the crime of modding Aristarchus up too often and modding Runaway down too often? 3? 4?
(Score: 5, Insightful) by Captival on Friday July 22 2022, @12:19AM
They never said "add customers". They said "key to recovery", which is true. Any cost conscious shopper already left, so they're free to abuse the ones remaining by making more and more money off them.
(Score: 0) by Anonymous Coward on Friday July 22 2022, @04:00AM
Many MBA also have studied Marketing.
They don't think like the rest of us.
Their main goal is to find someone who will pay them to run the remaining paying subscribers off.
They will find someone to sign their paychecks.
That's why they studied Marketing!
(Score: 2) by DECbot on Thursday July 21 2022, @11:08PM (2 children)
I personally refuse to watch for ads for a paid streaming service. I may have to take a look at their original offering again [netflix.com]. Not a bad deal now that there's software like plex and jellyfin.
cats~$ sudo chown -R us /home/base
(Score: 0) by Anonymous Coward on Thursday July 21 2022, @11:30PM
https://old.reddit.com/r/Piracy/wiki/megathread/movies_and_tv [reddit.com]
(Score: 4, Interesting) by Anonymous Coward on Friday July 22 2022, @01:48AM
I discovered Jellyfin a while back. It's been fantastic. It's like my own personal streaming service, and with a bit of proxy magic, it even works at friend's houses. Now my movies are always available to me practically anywhere.
As a plus, it even offers synchronized viewing so I can watch with a friend remotely. It's like hanging out via a virtual couch.
(Score: 2) by corey on Thursday July 21 2022, @11:18PM (1 child)
The finance dude on tv commented on the day this was announced (Wed?) about this because their share price jumped over 5% or something on the news that it was “only” a million subscribers. Everyone thought it was going to be more.
(Score: 0) by Anonymous Coward on Friday July 22 2022, @02:22PM
that's because they predicted they would lose 2 million, a few months back when they announced they had lost 200k.
(Score: 5, Insightful) by darkfeline on Thursday July 21 2022, @11:33PM (9 children)
Shouldn't be a surprise to anyone, it was just a matter of time.
Join the SDF Public Access UNIX System today!
(Score: 4, Insightful) by aafcac on Friday July 22 2022, @12:18AM (1 child)
Honestly, the incompetence is rather staggering. Ditching DVDs was probably inevitable as access to the discs was limited to ones that were still being produced. But, they probably wouldn't be losing so many subscribers if they wouldn't keep canceling shows so quickly. They should be a bit more selective with what they green light and then allow the shows to go beyond 3 seasons rather than canceling at 3 seasons and then replacing it with something similar.
(Score: 5, Insightful) by Anonymous Coward on Friday July 22 2022, @03:28AM
Didn't they take on a crap ton of new subscribers when lockdown happened? So wouldn't one expect that when those restrictions were lifted that they'd go back to more "normal" levels, so are these subscription losses real losses? I don't think anyone, including them, figured that the majority of the lockdown subscribers they picked up were going to stay for the long term.
(Score: 1, Troll) by epitaxial on Friday July 22 2022, @01:03PM (6 children)
Can you name some "woke" shows that caused people to cancel?
(Score: -1, Redundant) by Anonymous Coward on Friday July 22 2022, @04:58PM
Every show that starred a minority or LGBT+ character. These regressive fucks don't like acknowledging some facets of reality. White picket fence, apple pie, guns, and white people. Oh yeah, church too even though they pay no attention to it and only use god as an excuse to do bad things.
Le sigh, wish I was making that up as some ad-hom crap.
(Score: 3, Interesting) by Phoenix666 on Friday July 22 2022, @09:21PM (1 child)
I don't have access to Netflix's subscriber data, so I can't say definitively which shows caused people to cancel, but almost all their productions are woke now. In every cast there is at least one LGBT character, and social justice themes are awkwardly shoehorned into every story. In every action show the character who kicks the most ass is the small, light woman. Every villain is a white member of the patriarchy.
If you like those plot elements, more power to you. Those who don't care for them are voting with their feet.
Washington DC delenda est.
(Score: 2) by epitaxial on Saturday July 23 2022, @04:01AM
So you don't know, got it.
(Score: -1, Troll) by Anonymous Coward on Friday July 22 2022, @10:20PM (1 child)
There's anti-White jew propaganda in nearly everything the Jews at netflix put out. You have to be seriously brainwashed for racial suicide not to see it. This is not an insult, just a fact. I was too(though i never paid netflix for anything). They always insert some blood libel about the holohoax and "Nazi" slurs and talk of "getting rid" of them. They insert speeches about South Africa and Apartheid (communist jew-backed nigger invasion and revolt) and how evil and racist they are while Jewsus-worshiping Whites in SA are murdered, raped and tortured at-will in a slow-ish genocide. They put Niggers everywhere in shows trying to rewrite history so that Niggers are shown as way more important or even present than they really were, as the rat-faced Jew knows kids get their "history" from their propaganda. The dumb, aggressive, lazy, and useless Nigger is now always the moral, heroic, and intelligent, hard-working (lmao) authority figure and Whites, especially White Men are always weak or bad in some vile way while the White Woman is only good if she is breeding with (or just being a sex slave to) ape-hybrids and other non-whites. The Jew also likes to use high White percentage mullatos as "black women/men" to try and persuade and confuse Whitey's natural defenses against miscegenation. Of course they've been pushing perversions of every stripe, pedophilia, transsexualism, homosexuality, ritual murder and kidnapping of children (been doing that for thousands of years) , "feminism", "free capitalism", and anything else that results in fewer White babies. Jewish producers, directors, casting directors, actors and their Cultural Marxist race-traitor minions make sure black boys are shown as love interests for White girls (Stranger Things) and show blacks as safe and trustworthy, putting White kids in serious danger. The KKK existed because Niggers have always raped and murdered Whites disproportionate to their numbers in comparison to Whites and the only thing that stops it is putting them in their natural place as a lower subspecies, if not species. Better to ship them home to Africa like Lincoln was doing before he was assassinated.
The Jew uses Whites to play Jewish characters and inserts Jews everywhere as White characters, so real Americans (White people) will not be able to tell the difference and learns that Jew faces (naturally abhorrent to Whites passed down through Blood Memory) are seen as somewhat strange White faces. They've been hiding among the sheep since they got here and they use their vast media empire, the school systems, and "our" churches (all backed by the loot from our subverted financial systems) to make sure you never figure it out. That's why they brainwashed you since you were in elementary and Sunday school about "Nazis and the poor innocent Jew". It's a long game for global dominance and White eradication. Purge the Jew from all White Nations and reclaim our destiny before it's too late!
Bobby Fischer, a Jew, tells the truth about The Jew: https://odysee.com/@Mark78:3/C2ciXlIFPPwv:7 [odysee.com]
just a quick search about the real world (and non-tv Niggers): https://odysee.com/$/search?q=white%20murdered%20by%20black%20 [odysee.com]
The career race traitor and his deeds: https://odysee.com/@LoveandDivision:9/Biden-celebrates-the-war-on-whites-2022:5 [odysee.com]
Jews at work in the federal government: https://odysee.com/@WestmenMedia:1/US-Treasury-Department-Pushes-Antiwhite-Policies:b [odysee.com]
Jew-backed moral justification and brain washing for White genocide in the US. https://odysee.com/@biancafightsthezombies:d/ZioProp:e [odysee.com]
(Score: 0) by Anonymous Coward on Friday July 22 2022, @10:45PM
Well, aren't you "Special"! Look, Ma, it's another SoylentNazi! What will they think of next?
(Score: 2) by Mykl on Sunday July 24 2022, @09:13PM
My wife is, amongst other things, a fan of Jane Austen's work. She was horrified by, and hate-watched, Bridgerton's mangling of the essence of Regency drama. The same has just happened with new new adaptation of Persuasion, which has completely done away with the entire essence of Austen's characters and replaced them with sassy young women who are already their "best selves".
She's told me that we should take a break from Netflix and pick up BritBox. We haven't unsubbed yet, but we are on the verge due to those two shows.
Given my disappointment with the horrific treatment of Masters of the Universe recently, I'm inclined to agree.
There's three - I'm sure there are more.
(Score: 2) by legont on Friday July 22 2022, @12:23AM (6 children)
It's not even mentioned in the article.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 2) by EvilSS on Friday July 22 2022, @12:59AM (5 children)
(Score: 2, Troll) by legont on Friday July 22 2022, @01:14AM (4 children)
It's not the loss of Russian accounts per se, but the attitude Netflix has. Once it mixed it's business with politics, investors run. Some customers run too.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 3, Insightful) by EvilSS on Friday July 22 2022, @01:29AM (3 children)
(Score: 1, Offtopic) by legont on Friday July 22 2022, @01:46AM (2 children)
Consider that majority of the world's population likes Russia as opposed to the West.
"Wealth is the relentless enemy of understanding" - John Kenneth Galbraith.
(Score: 4, Informative) by Anonymous Coward on Friday July 22 2022, @02:36AM (1 child)
In India, the US polls higher than Russia in favorability. Chinese citizens don't really like either despite overwhelming favorability from Russia. And don't kid yourself, China and India are in it for themselves and will turn on Russia in half a heartbeat if it comes to it. But right now they both like the cheap fossil fuels and trade power they have over Russia. In the end, Russia needs them more than they need Russia.
(Score: 2) by Phoenix666 on Friday July 22 2022, @09:24PM
Yes, that's it exactly.
Washington DC delenda est.
(Score: 2) by arslan on Friday July 22 2022, @01:08AM (2 children)
What we heard here in Australia is they'll introduce a basic subscription that is cheaper, so the ads are to offset the cheaper subscription. I think that makes sense, some folks don't mind ads so a cheaper entry plan would be nice.
I just think they need more original or new content (even if sourced elsewhere), and more frequently. They have some good stuff but just way too infrequent.
(Score: 2) by Mykl on Friday July 22 2022, @08:06AM
Netflix obviously needed to move to more original content to distinguish themselves from other competing services. There was also the issue of providers such as Disney pulling all of their content to host on their own platforms.
But when I look for a decent been-in-the-cinemas movie on Netflix, it's a bit of a wasteland. Most of their licensed stuff is crap. It used to be possible to find lots of really good "3rd Party" content there, but I struggle to find it now.
I am also increasingly finding that Netflix original content needs to adhere to "The Message" these days, and it's getting hard to find content that doesn't ruin itself by overdoing it. A good example was the recent Masters of the Universe debacle. Seriously, you really have to be trying hard to screw up a series like that.
(Score: 5, Insightful) by Common Joe on Friday July 22 2022, @08:18PM
Some of us are also old enough to remember what happened to other subscription services starting with cable. Cable was supposed to be free of commercials. That didn't last. And then things got really crappy -- paying for channels we didn't want, sucky (and cheaply made) shows, broken promises, etc.
And it isn't just cable. Anyone here remember most information used to be free on the Internet? And although a lot of stuff was crap, it was easy to find high quality stuff too. Now it's "subscribe, subscribe, subscribe".
So, what Netflix is doing isn't surprising at all. It's simply history repeating itself.
(Score: 1, Interesting) by Anonymous Coward on Friday July 22 2022, @01:27AM (1 child)
Netflix came up with the whole model that is being used today. Except all the media companies are cutting them out. When it gets bad enough, Netflix will end up with someone doing patent attacks against Apple, Disney, Paramount, etc. to get their cut again.
(Score: 2) by Phoenix666 on Friday July 22 2022, @09:30PM
I always thought that Netflix's true edge against competition was the granularity of their user data. They can tell exactly at what point in a series or show viewers abandon it. They can tell exactly what the elasticity of demand for their series is, based on how many subscribers picked back up watching a show that had a long delay before additional seasons came out.
But if they're ignoring that data, as it seems they are doing more and more, then they are nullifying their advantage; it could wind up costing them everything.
Washington DC delenda est.
(Score: 4, Insightful) by krishnoid on Friday July 22 2022, @04:06AM (2 children)
We have a very convenient, reliable content delivery service ... and we lost customers ... because the stuff they want to watch isn't on our platform? No, that's not it. I think we should just monetize the stuff people aren't excited about watching in the first place, and make our money back that way.
(Score: 2) by captain normal on Friday July 22 2022, @06:52PM
That is pretty much the "Staggering incompetence" (love that term) that aafcac referred to @ 17:18 above.
"It is easier to fool someone than it is to convince them that they have been fooled" Mark Twain
(Score: 1) by aafcac on Sunday July 24 2022, @03:32PM
As Captain Normal said, that's more or less what I'm getting at. Even if there is content that you personally want to see, it can be an issue finding it as they tend to arbitrarily cap most series at 3 seasons. Meaning that even if they do replace it with something that's also to your liking, you'd have to find that new content. A 10+ series stream of something like Red Dwarf can sustain somebody for a pretty decent amount of time and make it easier to justify not canceling. As opposed to an also well loved series like Star Trek TOS, which as loved as it is, all but the most diehard of fans are probably not going to want to watch it more than once through every few years. Each time they cancel and restart, they make it that much less likely that people will find what they want.
On top of that,t here's the issue with the wokeness of much of the programming having a very small niche to begin with and you get these sorts of issues. I do think that the folks pointing out that the numbers were higher than normal due to the pandemic have a valid point, but I also think that due to the type of content that they've been producing and their unrealistic expectations for audience size that they'll likely lose those extra subscribers and more.
I never personally saw, or had interest in, the Babysitters' Club series, but from what I understand, it had more than enough of an audience to keep going.
(Score: 2, Touché) by zzarko on Friday July 22 2022, @04:49AM (3 children)
So they now have 220 million subscribers instead of 221... Really tough times for them...
C64 BASIC: 1 a=rnd(-52028):fori=1to8:a=rnd(1):next:fori=1to5:?chr$(rnd(1)*26+65);:next
(Score: 5, Informative) by maxwell demon on Friday July 22 2022, @06:27AM (2 children)
Well, don't forget that the religion of our time is unlimited growth. Not growing is a deadly sin, which will be severely punished by the holy invisible hand.
The Tao of math: The numbers you can count are not the real numbers.
(Score: 1) by aafcac on Sunday July 24 2022, @03:35PM
That's the real issue. Few tech companies have been around long enough to switch to a business model that's centered on issuing shareholder dividends rather than increasing the share price. It is inevitable that these companies will need to do that as there's only so large you can grow before regions start to crack down on the problems with large trusts forming and controlling too much of the economy.
There's two primary reasons why companies issue dividends, one is because they think that the investor has better options for how to invest the money and secondly to encourage investors to hang onto their shares for longer periods by paying them to own the shares. Netflix likely will need to do that before too long as the main investments they can make is in new programming, and there's so much of it that it can be hard for subscribers to know when something new comes along if they aren't paying close attention. I've seen things come and be canceled without my even seeing it, even though it's something I would have been interested in.
(Score: 2) by Common Joe on Monday July 25 2022, @02:34AM
You're already at a +5 rating (rightfully so), so it'd be hard to mark you higher.
I shudder to think what is going to happen to all businesses as the world population slows in growth and eventually shrinks. Our view of sustainable business must change in the near future.
(Score: 2) by Opportunist on Friday July 22 2022, @05:18AM
"The cure is worse than the disease"
Are you trying to recover or help it on its way? Seriously...
(Score: 4, Insightful) by Freeman on Friday July 22 2022, @02:57PM (1 child)
This is just a re-hash of what Cable TV went through, 41 years ago. We've enjoyed our commercial free entertainment on streaming platforms. Now, it's time to be indoctrinated, again.
https://www.nytimes.com/1981/07/26/arts/will-cable-tv-be-invaded-by-commercials.html [nytimes.com]
Joshua 1:9 "Be strong and of a good courage; be not afraid, neither be thou dismayed: for the Lord thy God is with thee"
(Score: 3, Touché) by DannyB on Friday July 22 2022, @06:55PM
The ads will get worse. Longer.
They will cram ads down your throat. Ads that are bigger, longer and uncut.
Then after an ad, they will put up mini ads in the corners of the content -- even if it obscures important parts of the content which may be crucial to the plot.
Then ads will consume 50% of the viewing time. Four hours to watch a two hour movie.
Then all the content will be only Reality TV because it's cheapo to make.
Then extra fees to watch marathons of classic series that you want to see.
How often should I have my memory checked? I used to know but...
(Score: 0, Troll) by echostorm on Friday July 22 2022, @06:43PM (7 children)
I canceled back in December due to seriously declining quality of originals, woke bullshit everywhere and the RUMORS of ads...
since then, it has been a mass exodus by not just the techies but an ever increasing percentage of the general population. How does it make sense to double down?
(Score: 2) by DannyB on Friday July 22 2022, @06:52PM
I didn't see anywhere in the Bible where Netflix was going to introduce ads.
How often should I have my memory checked? I used to know but...
(Score: 0) by Anonymous Coward on Friday July 22 2022, @07:23PM (5 children)
That's the third reference to"woke" in one discussion. Is there some thread on this in IRC? Or are these 3 accounts SPs of one person? From now on every time I see "woke" in a post, it will be an automatic -1 troll.
(Score: 0) by Anonymous Coward on Friday July 22 2022, @07:36PM (2 children)
Not just "woke", but every username with "storm" in it is probably a blitzkrieger or QAnonist. Can we ban the actual Nazis, now?
(Score: -1, Offtopic) by Anonymous Coward on Friday July 22 2022, @08:54PM (1 child)
shut up, bolsheviks' bitch.
"Nazi" is an anti-White Jew slur. Netflix is run by Bolshevik Jew rats. They work in unison with the rest of the hook-nosed kikes of the world to destroy the White race as they have done for thousands of years; and it's working. Gullible, ignorant Jewsus-worshiping Whites are helping them, to show how "anti-racist" they are, and for temporary, selfish gain, but you can't suck your way out of this you dumb, race-traitor whores. The non-White hordes the rat-faced Jew is bringing into every White-founded nation will rape and murder your women and children (like they already are) laughing at your stupidity. Time to rid all White nations of non-whites before it's too late. Balkanize and regroup. Teach all Whites of the world a new, unified racially-focused religion. Then, take back what only our own foolishness could have lost.
https://odysee.com/@1488:9/White_Genocide_Is_Real:f [odysee.com]
https://odysee.com/@LoveandDivision:9/Biden-celebrates-the-war-on-whites-2022:5 [odysee.com]
https://odysee.com/@Slammdcrxx:8/Adolf-Hitler-The-Greatest-Story-Never-Told-(full-movie):c [odysee.com]
(Score: -1, Offtopic) by Anonymous Coward on Friday July 22 2022, @09:51PM
Says the person sexually identifying as "white" and demanding everyone else go bankrupt building them bathrooms.
(Score: 1, Insightful) by echostorm on Friday July 22 2022, @08:03PM (1 child)
Id define 'woke' in this instance as pedophilia, 'reimagining' history, pronouns, and literal anti white / asian sentiment. There was no secret IRC group that people all met up on, many people decided enough was enough all on their own. The pendulum has to swing back sometime, and you'd do best to get out of the way of it.
(Score: -1, Troll) by Anonymous Coward on Friday July 22 2022, @10:50PM
Janrinok! We need you! Is the AC posting all the anti-semitic crap the same person as echostorm? We must unmask all those "hiding" behind AC posts.