i cancelled netflix when they kept taking my sweet black and white shows and westerns off. then they kept taking off roseanne, hey arnold, and others. then put them on. then took them off. then put things on i would watch, then took them off in the middle of seasons.
i got soo pissed i rage quit and in comments "let us know" i said "fuck this trash of constantly pulling stuff off. im out you fucktards" LOL
Well and their assets are massively depreciating. This is the best kept secret in tech: digital platforms DO depreciate except of course accountants don't know this. What's a tech platform worth after 5 years with no updates or maintenance?
I'm an accountant and yes we do absolutely depreciate software and tech just like any other asset. It's not a secret or anything you just don't know what you are talking about.
Fair point since I'm not an accountant I shouldn't speculate about their practices though I'm not talking about licensees with fixed terms I'm talking about the product offering / platform itself.
That itself would also be an asset. Think of building a website as a project much like construction of a building. It could take many months or years to build with all sorts of different costs going in, development costs, consultants, coders etc. Once the project is complete all those costs get rolled into an asset on the balance sheet and depreciated on a fixed schedule. If you don't make improvements eventually that asset is worth $0 on your balance sheet.
I'm not communicating my point very well it seems. The value of the platform approaches $0 much more quickly than the lofty PE ratios seem to justify. Within a few years they become liabilities. Yet they spend hundreds of millions per years on salaries to build them. If they are only worth their media library licenses scaled to their audience then their PE ratios should be similar to the duration of these contracts (ie ~10 not ~30+). Same is true for software such as windows where there's a need for constant improvements/updates. It's this pattern that I see throughout tech sector.
Yeah I hear what you are trying to say it's just wrong. Assets never become a liability that's not how accounting works. An asset can have a liability tied to it via debt but once that is paid off you just have the asset and accumulated depreciation. Think also of the enormous amount of tangible physical infrastructure required to maintain these platforms all that stuff has very real value even if Netflix closed their business today. Netflix has an enormous balance sheet with very real and tangible assets that justify their equity position. Take a peek at their balance sheet https://finance.yahoo.com/quote/NFLX/balance-sheet/
If you look at the details under current assets they have $40 billion in assets, $27 billion of which are intangible assets i.e goodwill + the value of their platform
As to the lifespan of intangibles GAAP guidance is 3-5 years for depreciation not 10 or even 30 its much less.
I think the issue here is that their PE ratios are > depreciation period. Like they're purposefully not factoring in long term costs to their valuations. Or they are but investors aren't
This basically proves my point. If it's only their catalog that has value at this point, then we're admitting 100% devaluation of the platform they built.
I canceled a very long time ago. Maybe 2008? It was one of the first times they raised their prices and lot. They sent out an insulting email that said soemthing along the line of 'just don't get a Starbuck's coffee' and you can afford it.
I was very poor at the time and was living off rice, beans, and potatoes and my Netflix sub was the only thing I had as subscription entertainment. It was already a splurge for me and sure I would have paid the hike (this was back when you could still rent physical media).
I was not going to put up with snotty, rude emails. I am glad I canceled them well before the woke crap started.
Yeah, I still have it because I don't care enough to get rid of it. There are a few things they have that I like, and I watch so little TV (compared to most people) that I don't get bored.
But with prices going up and all the woke garbage on there (especially in the kids section), I'll probably start hopping services every few months and recording anything I want to watch again.
Truth, but the reality is just that the Netflix dopamine hit wore off, and now there are so many other services that people are gonna trim here and there.
They are saying they are going to lose customers because of the crack down on password sharing which they say is 100m subscribers and introduce advertising.
Look:
"Netflix hints at password sharing crackdown as subscribers fall"
I wonder if there's a correlation between the type of person that happily pays for Netflix's social engineering service and people that are fully vaxxed and boosted?
IOW, is binging on Netflix a leading cause of myocarditis, or maybe the silent killer "short illness"?
Which was a very deceptive headline which attributed the loss to a 'made up blame Russia excuse' but when you read the article it does seem reasonable that it is due to suspension of service in Russia.
Count me among them. Their content is not satisfying, hasn't been for years.
i cancelled netflix when they kept taking my sweet black and white shows and westerns off. then they kept taking off roseanne, hey arnold, and others. then put them on. then took them off. then put things on i would watch, then took them off in the middle of seasons.
i got soo pissed i rage quit and in comments "let us know" i said "fuck this trash of constantly pulling stuff off. im out you fucktards" LOL
Well and their assets are massively depreciating. This is the best kept secret in tech: digital platforms DO depreciate except of course accountants don't know this. What's a tech platform worth after 5 years with no updates or maintenance?
I'm an accountant and yes we do absolutely depreciate software and tech just like any other asset. It's not a secret or anything you just don't know what you are talking about.
Fair point since I'm not an accountant I shouldn't speculate about their practices though I'm not talking about licensees with fixed terms I'm talking about the product offering / platform itself.
That itself would also be an asset. Think of building a website as a project much like construction of a building. It could take many months or years to build with all sorts of different costs going in, development costs, consultants, coders etc. Once the project is complete all those costs get rolled into an asset on the balance sheet and depreciated on a fixed schedule. If you don't make improvements eventually that asset is worth $0 on your balance sheet.
I'm not communicating my point very well it seems. The value of the platform approaches $0 much more quickly than the lofty PE ratios seem to justify. Within a few years they become liabilities. Yet they spend hundreds of millions per years on salaries to build them. If they are only worth their media library licenses scaled to their audience then their PE ratios should be similar to the duration of these contracts (ie ~10 not ~30+). Same is true for software such as windows where there's a need for constant improvements/updates. It's this pattern that I see throughout tech sector.
Yeah I hear what you are trying to say it's just wrong. Assets never become a liability that's not how accounting works. An asset can have a liability tied to it via debt but once that is paid off you just have the asset and accumulated depreciation. Think also of the enormous amount of tangible physical infrastructure required to maintain these platforms all that stuff has very real value even if Netflix closed their business today. Netflix has an enormous balance sheet with very real and tangible assets that justify their equity position. Take a peek at their balance sheet https://finance.yahoo.com/quote/NFLX/balance-sheet/ If you look at the details under current assets they have $40 billion in assets, $27 billion of which are intangible assets i.e goodwill + the value of their platform As to the lifespan of intangibles GAAP guidance is 3-5 years for depreciation not 10 or even 30 its much less.
The new oil spills....
Depreciation is income
I think the issue here is that their PE ratios are > depreciation period. Like they're purposefully not factoring in long term costs to their valuations. Or they are but investors aren't
Netflix streams from Amazon AWS for their service
So it is only their catalogue which is losing value over time.
I've not gone through their accounts but I expect that cost has been re-couped (I might be wrong).
As for Amazon
Summary
https://www.forbes.com/sites/jasongoldberg/2022/02/04/amazon-reveals-its-most-profitable-business/
Actual filing
https://ir.aboutamazon.com/news-release/news-release-details/2022/Amazon.com-Announces-Fourth-Quarter-Results/default.aspx
This basically proves my point. If it's only their catalog that has value at this point, then we're admitting 100% devaluation of the platform they built.
I'm not rebutting your argument but I recall two additional maxims
Content is not King
Andrew Odlyzko (2000) - AT&T Labs - Research
which advised me to build infrastructure and not make videos - my fortune via YT lost :)
and
Joel Spolsky's advice in June 2002
meaning if you make infrastructure - give away the content and make it worthless
So it is interesting that Google followed this advice
I canceled a very long time ago. Maybe 2008? It was one of the first times they raised their prices and lot. They sent out an insulting email that said soemthing along the line of 'just don't get a Starbuck's coffee' and you can afford it.
I was very poor at the time and was living off rice, beans, and potatoes and my Netflix sub was the only thing I had as subscription entertainment. It was already a splurge for me and sure I would have paid the hike (this was back when you could still rent physical media).
I was not going to put up with snotty, rude emails. I am glad I canceled them well before the woke crap started.
Yeah, I still have it because I don't care enough to get rid of it. There are a few things they have that I like, and I watch so little TV (compared to most people) that I don't get bored.
But with prices going up and all the woke garbage on there (especially in the kids section), I'll probably start hopping services every few months and recording anything I want to watch again.
$15 a month if you want anything over 480p for more than 1 device. I have it because crypto.com reimburses me in their crypto.
CUTIES!!!
shake that ass!!!
Truth, but the reality is just that the Netflix dopamine hit wore off, and now there are so many other services that people are gonna trim here and there.
It's 200k subscribers not 2m. and 700k were the Russians they cut off.
700k lost, 500k gained = 200k lost
the share price drop is because they didn't meet their own forecasts :
This last one is the headline subs loss
They gained 500k subs.
They are saying they are going to lose customers because of the crack down on password sharing which they say is 100m subscribers and introduce advertising.
Look:
"Netflix hints at password sharing crackdown as subscribers fall"
https://www.bbc.co.uk/news/business-61153252
Boss Reed Hastings said Netflix was looking at launching a free ad-supported service like its rivals Disney and HBO.
Analysts say it could open a significant new revenue stream for the company, which has so far shunned advertising.
I wonder if there's a correlation between the type of person that happily pays for Netflix's social engineering service and people that are fully vaxxed and boosted?
IOW, is binging on Netflix a leading cause of myocarditis, or maybe the silent killer "short illness"?
Netflix is a propaganda machine for the NWO.
Disney+ is too. But Disney+ is unable to be so direct....
They fucked up Cowboy Bebop.
How so?
Faye was lame and not sexy. Julie was evil and her character changed the plot significantly from the anime. Vicious was a beta male.
I didn’t even know about this... this looks... gay as fuck... https://www.cbr.com/cowboy-bebop-netflix-changes-anime/
This is a good thing because Netflix is a main pusher of woke bullshit.
Hulu's even worse. They literally got a show CALLED woke
there was NO NEED for them to raise prices again. ridiculously stupid move on their fucking part....
they are as sleazy as public storage for continuing to raise the prices over and over
As soon as they launched their Netflix originals with house of cards I already knew it was downhill from there
Plus the increasing competition would probably lead to a repeat of the cable tv problem
All this I thought of being a possibility back in 2015/6. Never subscribed to Netflix but I should have bought stock back then
This. They kept pushing and recommending their originals, while removing shows I liked. Then when they signed a contract with the Obamas, I was out.
Normies are not cancelling Netflix though.
They lost 700k when they cut off Russia and gained 500k during the same period, with a net loss of 200k.
That said, they forecast 2.5m gain so that's quite the gap.
https://www.cnbc.com/2022/04/19/netflix-nflx-earnings-q1-2022.html
I'm not saying it is but that could be related to them cracking down on password sharing.
https://www.techdirt.com/2022/03/17/netflix-starts-cracking-down-harder-on-password-sharing/
every 2-3 months, ill find a flick thas good'nuff to watch. maybe even a "good" flick.
HOW 'BOUT DIS, DOH....
actors are like "nah, brah." imma make more on theatrical releases. y'all fuck off until the movie hits VHS.
and fuck you!!!!!! i seen all 6 "tremor" movies twice over. fuck you. im done w/ that shit.
First take away the circus, then take away the bread.
This is true. In 2008, the last time this happened, people stopped paying their mortgage before cancelling their streaming services.
Paying for content went obsolete 20 years ago.
Thankfully for big corp, normies are very dumb and slow.
think your conclusions are wrong. People are leaving Netflix for other services like Disney+
prime beats the living SHIT out of netflix these days.
Pirating beats all.
The age of piracy is back.
Problem with prime is with just prime the actual library is pretty limited
You gotta get the subscriptions to the "channels" to see the shit you want to see most the time.
I finally dumped it all after I realized how much I was blowing
HBO now > all
Except people are not leaving Netflix, they gained 500k new signups.
They forced 700k Russian users off the service.
Hence 200k net loss.
I read that too. I read it under the headline "https://thelibertydaily.com/netflix-stock-cratered-after-report-of-plummeting-subscribers-for-which-they-blame-russia/"
Which was a very deceptive headline which attributed the loss to a 'made up blame Russia excuse' but when you read the article it does seem reasonable that it is due to suspension of service in Russia.