- Conspiracies

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posted 2 years ago by GynaNumbaZero 2 years ago by GynaNumbaZero +37 / -2

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– the-new-style 1 point 2 years ago +2 / -1

It's 200k subscribers not 2m. and 700k were the Russians they cut off.

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– deleted 1 point 2 years ago +1 / -0

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– the-new-style 2 points 2 years ago +2 / -0

700k lost, 500k gained = 200k lost

the share price drop is because they didn't meet their own forecasts :

Revenue $7.87B, missing est. $7.95B
EPS $3.53, beating est. $2.91
Streaming Paid Memberships 221.64M, missing the est. 224.5M
Netflix 1Q Streaming Paid Net Change -200,000, huge miss to the est. +2.5M

This last one is the headline subs loss

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– deleted 0 points 2 years ago +2 / -2

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– the-new-style 1 point 2 years ago +1 / -0

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.

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