Netflix loses 970k subscribers.

[CastletonSnob]

Netflix Q2 Earnings Show 970,000 Subscribers Dumped Service - TheWrap

Despite the success of "Stranger Things 4," the market-leading streamer lost customers for the second consecutive quarter

www.thewrap.com

With baffling decisions like making live-action adaptations of One Piece and Yu Yu Hakusho, I'm not surprised Netflix is bleeding subscribers.

 

[Alienware]

They are bleeding because they increased the cost of a subscription...I just hope Disney and Amazon learned from this mistake.

 

[Worgen]

If you aren't using a streaming service it makes more sense to just drop it and re-subscribe when it has something you want. If netflix was smart they would reduce the cost for long time subscribers so they wouldn't want to drop it and risk losing the better rate.

 

[BrawlMan]

​

 

[Gordon_4]

Netflix Q2 Earnings Show 970,000 Subscribers Dumped Service - TheWrap

Despite the success of "Stranger Things 4," the market-leading streamer lost customers for the second consecutive quarter

www.thewrap.com

With baffling decisions like making live-action adaptations of One Piece and Yu Yu Hakusho, I'm not surprised Netflix is bleeding subscribers.

 

[CastletonSnob]

Netflix Touts Record 7.7% Share Of Total TV Viewing In June, Defends Binge-Release Model As Key Part Of Its “Significant Long Term Business Advantage”

Netflix jumped ahead of Thursday’s planned release by Nielsen of monthly viewership through TV sets, revealed in its second-quarter shareholder letter today that its share of total TV viewing…

deadline.com

Netflix says the binge model is a "significant long-term business advantage".

Netflix is so out of touch, it's hilarious. Imagine if Disney+ dropped all the episodes for a season of The Mandalorian or WandaVision at once.

 

[Thaluikhain]

Netflix is so out of touch, it's hilarious.

Isn't that so often the way, new media or whatnot and a company totally fails to properly understand it and makes mistakes that are obvious to everyone else who has been paying attention?

 

[Johnny Novgorod]

Huh. I've never seen the actual clip.

 

[Kyrian007]

I've heard that they are a "go" for a lower priced ad-supported tier. It never will ever occur to any company that they might do better business than a competitor by simply lowering their prices so more folks could afford it. It is ALWAYS, "we are losing too much to theft," or "we need an additional revenue stream to offset maybe lowering prices a little." God forbid we make slightly less enormous profits than we did last year.

 

[Thaluikhain]

I've heard that they are a "go" for a lower priced ad-supported tier. It never will ever occur to any company that they might do better business than a competitor by simply lowering their prices so more folks could afford it. It is ALWAYS, "we are losing too much to theft," or "we need an additional revenue stream to offset maybe lowering prices a little." God forbid we make slightly less enormous profits than we did last year.

I dunno, sometimes they might slightly decrease their prices and greatly decrease worker wages and rights.

 

[Xprimentyl]

I've heard that they are a "go" for a lower priced ad-supported tier. It never will ever occur to any company that they might do better business than a competitor by simply lowering their prices so more folks could afford it. It is ALWAYS, "we are losing too much to theft," or "we need an additional revenue stream to offset maybe lowering prices a little." God forbid we make slightly less enormous profits than we did last year.

Funny how they consider every cent they're not making as "lost" revenue. We're not far from the age where we ask companies how much a service cost, and they reply with "well, how much ya got on ya?"

 

[Kyrian007]

I dunno, sometimes they might slightly decrease their prices and greatly decrease worker wages and rights.

Worker though, not executive. Its weird, a company can have 35 vice presidents from various myriad departments... but if someone says their payroll is too high it is always the guys on the line or packed into cubicles that will suffer and/or get fired. I remember my CEO's email back in 2020. Of course they made each affiliate fire 98% of our support staff, and consolidated a few departments regionally to get rid of about half of our department heads. So just months later when our CEO in an email welcomes and celebrates 7 new vice presidents to our company (2 new positions filled by people new to the company, 1 new position filled from within, 3 open spots filled from within, and one open from outside,) we wondered how many assistants and receptionists could have been saved company wide if they hadn't hired new VP's... considering each of those VP's make at least 10x the salary of an assistant and as much in one case as 140x the salary (counting the value of the stock options.)

 

[hanselthecaretaker]

They are bleeding because they increased the cost of a subscription...I just hope Disney and Amazon learned from this mistake.

They won’t. They still haven’t even figured out rewinding and fast forwarding that’s worth a shit yet either.

 

[Xprimentyl]

They won’t. They still haven’t even figured out rewinding and fast forwarding that’s worth a shit yet either.

A rising tide lifts all ships, i.e.: "Netflix is charging more? We can charge more; no reason we should miss out on that sweet, sweet cash." It'll happen; mark my words.

I'm no sucker, I know exactly what is going on, and am as much to blame as the next person, but everyone jumped on streaming services and laughed at those still paying for cable, but total all those $15 subscriptions, and it's basically the same if not more if you've got enough of them. I'm just waiting on the resurgence of Blu-rays/DVDs when people realize they're suckers for paying subscriptions when for a one-time price, they can OWN the content.

 

[hanselthecaretaker]

A rising tide lifts all ships, i.e.: "Netflix is charging more? We can charge more; no reason we should miss out on that sweet, sweet cash." It'll happen; mark my words.

I'm no sucker, I know exactly what is going on, and am as much to blame as the next person, but everyone jumped on streaming services and laughed at those still paying for cable, but total all those $15 subscriptions, and it's basically the same if not more if you've got enough of them. I'm just waiting on the resurgence of Blu-rays/DVDs when people realize they're suckers for paying subscriptions when for a one-time price, they can OWN the content.

People won’t learn there either, whether by personal preference ie convenience of digital or sheer ignorance/indifference. Streaming has reached critical mass and we’ll probably end up seeing all the usual downsides of that kinda thing sooner than later.

 

[Gordon_4]

A rising tide lifts all ships, i.e.: "Netflix is charging more? We can charge more; no reason we should miss out on that sweet, sweet cash." It'll happen; mark my words.

I'm no sucker, I know exactly what is going on, and am as much to blame as the next person, but everyone jumped on streaming services and laughed at those still paying for cable, but total all those $15 subscriptions, and it's basically the same if not more if you've got enough of them. I'm just waiting on the resurgence of Blu-rays/DVDs when people realize they're suckers for paying subscriptions when for a one-time price, they can OWN the content.

In so much as ownership is king; I’d need a fucking TARDIS to store all the discs of the things I’d like to own but instead use streaming for.

 

[Agema]

Netflix will also be losing customers due to the current inflation: as the disposable income of households is decreasing, so people are going to make savings somewhere.

However, no streaming service can provide enough stuff to keep viewers interested long term unless they are unfussy. When Netflix was the only major service, they could because they could pick up so much without competition. Now it's split between them, Amazon, Disney and a few other smaller ones, plus all the old traditional broadcast networks that also have their material available to stream. The sensible thing to do is therefore to subscribe to just one streamer, watch the key shows, then end subscription and start up one at the next streamer. (The downside of this is of course seeing things months after everyone else.) By the time they cycle back round again, plenty of fresh content will have arrived. This also will cost the biggest service most viewers, at least initially.

 

[Thaluikhain]

I'm just waiting on the resurgence of Blu-rays/DVDs when people realize they're suckers for paying subscriptions when for a one-time price, they can OWN the content.

Never went to streaming services (beyond youtube) myself, stuck to owning discs.

 

[BrawlMan]

I'm just waiting on the resurgence of Blu-rays/DVDs when people realize they're suckers for paying subscriptions when for a one-time price, they can OWN the content.

Physical Forever my friend! Whenever a streaming show goes straight to DVD/Blu-Ray, and I like it/enjoy it, it immediately goes on my buy list. I keep telling people this. Some listen or already want physical version, or try to put a "I don't need a physical copy" attitude. Or, "But I own these!" No you don't! These are glorified rentals. Not all of these will be on the service forever.

 

[CriticalGaming]

I wonder how much has to do with the oversaturation of the streaming service market, versus how much has to do with Netflix making trash shows like Resident Evil and such.

Because Netflix used to be a hub for online shows and movies, but as more studios put out their own services that digs into the potential entertainment that Netflix can offer as they loose the rights to shows on Paramont, Disney+, HBO, etc etc etc. The value Netflix can offer grows less and less, unless they start making better shows and/or movies, which I don't think they have the studios or budget to do especially when loosing revenue.