Netflix's R633-billion shocker

[Hanno Labuschagne]

Netflix's R633-billion shocker

Netflix Inc. shares are on course to lose about $42 billion (R633.2 billion) in value Wednesday after the streaming giant reported its first subscriber decline in more than a decade as the company pledges to make a slew of changes to its business to arrest a customer exodus.

Shares in the company fell more than 27% premarket trading, extending its plunge this year to 58%.

If the losses hold, Netflix is poised to become the worst-performing stock this year in both the benchmark S&P 500 and tech-heavy Nasdaq 100 indexes.

[Bloomberg]

 

[Heisenborg]

Get woke, get broke

 

[Mike Hoxbig]

More Bridgeton and princess kark please...

 

[BBSA]

 

[Matt91]

If it wasn't for the old folks I'd have already cancelled Netflix. Havent watched anything on there in months and there's very little if anything that looks mildly decent in the upcoming section...

 

[Zophos]

If it wasn't for the old folks I'd have already cancelled Netflix. Havent watched anything on there in months and there's very little if anything that looks mildly decent in the upcoming section...

You clearly need to get in touch with your feminine side (According to Netflix's portfolio offerings)......

If it wasn't for the baking shows that the SO watches, I would have cancelled it...

 

[dualmeister]

Can we get another Netflix article please?
There are not enough.

 

[RonSwanson]

Time for Musk to make a bid.

 

[Dan C]

Can we get another Netflix article please?
There are not enough.

What color do you want it in ?

 

[dualmeister]

What color do you want it in ?

Blue

 

[zll]

If it wasn't for the old folks I'd have already cancelled Netflix. Havent watched anything on there in months and there's very little if anything that looks mildly decent in the upcoming section...

I still regularly watch stuff on Netflix. Good anime/animation selection. Lots of very cool stuff from overseas, especially Korea. Enough mindless reality TV to keep me and my gf happy when we just want to switch off. Once Disney Plus launches here I won't need anything else. Have YouTube Premium, Netflix and D+ and done.

 

[zll]

Get woke, get broke

Of course, it has nothing to do with the fact that there are literally dozens of major media house all competing for a slice of the streaming pie...

 

[Heisenborg]

Of course, it has nothing to do with the fact that there are literally dozens of major media house all competing for a slice of the streaming pie...

That too of course

 

[system32]

The streaming service shocked Wall Street by losing 200,000 customers in the first quarter, the first time it has shed subscribers since 2011.

@Bloomberg

Perhaps add the part about losing 700,000 Russian subscribers, if not for that a gain of 500,000.

Netfix 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 this impact, Netflix would have seen 500,000 net additions during the most recent quarter.

 

[thestaggy]

The streaming market is more competitive and the Covid boom has subsided as people go back to normal (not sitting at home all day, everyday binging TV).

 

[susefan]

Cost of supporting Ukraine, or NATO, in the Russia Ukraine conflict. It’s a price worth paying.

 

[Madhawk]

More Mindhunters please....

 

[grok]

BBFFN - bring back full frontal nudity!

 

[spiff]

 

[TelkomUseless]

The streaming market is more competitive and the Covid boom has subsided as people go back to normal (not sitting at home all day, everyday binging TV).

Exactly. There is crap load of streaming services now... bound to happen sooner or later.