Netflix stock plunges 37% on shocking
subscriber loss
CNBC,
by
Jessica Bursztynsky
&
Sarah Alessandrini
Original Article
Posted By: Dreadnought,
4/20/2022 10:52:33 AM
Shares of Netflix plunged 37% Wednesday morning after the streamer reported earnings Tuesday evening that showed it lost subscribers for the first time in more than ten years. The results and weak outlook led to a wave of downgrades from Wall Street over fears of the company's long-term growth potential.
Netflix said several headwinds are impacting growth, including competition and the easing pandemic restrictions. The company had been significantly boosted by coronavirus stay-at-home orders, as more people sought out digital entertainment. But people spent less time on digital platforms as vaccines rolled out and mandates eased.
Slower household broadband growth also played a role in the company's weak forecast.
Reply 1 - Posted by:
Dreadnought 4/20/2022 10:53:28 AM (No. 1133391)
I guess ESG and woke millennials are not the savior of Hollywood, streaming, and pop culture after all.
37 people like this.
Reply 2 - Posted by:
southernboy 4/20/2022 10:56:31 AM (No. 1133398)
So much for "Star Power!"
22 people like this.
Mayhaps Netflix should not have paid that bribe to the 0bamas.
69 people like this.
Reply 4 - Posted by:
doctorfixit 4/20/2022 11:17:38 AM (No. 1133410)
Netflix is so much garbage. Finding anything worth watching is daunting. Obama on Netflix makes me want to puke. Big Deal "Tiger King" a parade of toothless trailer trash mired in mud and meth. Disgusting.
45 people like this.
Reply 5 - Posted by:
Hermit_Crab 4/20/2022 11:54:59 AM (No. 1133436)
Hey, I got an idea for NutFlicks:
They can hire the entire Biden family to produce programming for them. That could be an even bigger draw than the 0bama Movie Production Company.
23 people like this.
Reply 6 - Posted by:
Nimby 4/20/2022 12:38:04 PM (No. 1133462)
And they blame subscribers sharing passwords for this? No one wants to listen to wokies like Obamas and Markels!! Kapish!!
30 people like this.
Reply 7 - Posted by:
Rama41 4/20/2022 12:40:58 PM (No. 1133463)
Cancelled two years ago. They ran out of decent programming long before that.
28 people like this.
Reply 8 - Posted by:
nwcudagal 4/20/2022 1:02:46 PM (No. 1133470)
They've been Markled!
26 people like this.
Reply 9 - Posted by:
MDConservative 4/20/2022 1:14:07 PM (No. 1133480)
Netflix is a classic "grow to the sky" stock among pick-a-stock investors. I have friends who got in early and are seeing their profits shrinking. I have others who bought late who are seeing their principal shrinking.
11 people like this.
Reply 10 - Posted by:
Catherine 4/20/2022 1:26:18 PM (No. 1133489)
Well this is a happy headline. Made me smile.
25 people like this.
Reply 11 - Posted by:
smokincol 4/20/2022 2:00:04 PM (No. 1133513)
hasn't anyone realized, yet, that everything hosingyou obama touches turn to fecal matter? what does it take? he was a failure as prez and now he's destroying Netflix, that's two for two but Durham hasn't brought the hammer down on hosingyou, yet
20 people like this.
Reply 12 - Posted by:
Lawsy0 4/20/2022 2:41:48 PM (No. 1133556)
Said the noted philosopher, Brer Rabbit, ''Please don't throw me in the briar patch!'' IOW, you asked for it, sukka now deal with it. Netflix knew it was going downhill two years ago and the more that continues, the more they intend to blame the former-paying-customers.
10 people like this.
Reply 13 - Posted by:
DVC 4/20/2022 2:47:13 PM (No. 1133568)
Obama getting on board kept me from joining. I don't miss it at all.
20 people like this.
Reply 14 - Posted by:
Strike3 4/20/2022 5:24:01 PM (No. 1133674)
Hollywood hasn't made a decent movie in years so the quality of their offering sucks and they gave millions of dollars to the Obamas for putting their ugly faces on the screen to spout their race-based nonsense. No thanks, I would rather watch catepillars eat leaves.
18 people like this.
Reply 15 - Posted by:
YorkieMom 4/20/2022 5:57:10 PM (No. 1133703)
Netflix will not believe people tune out because of the Obamas and Harry and Nutmeg. They’ll always believe they’re special. I pay extra for HBO and talk about nothing. I’ve seen one good movie on that channel in 3 years. It’s Cry Macho, a Clint Eastwood movie. Hollywood never gives him credit because he’s conservative.
17 people like this.
Reply 16 - Posted by:
Dodge Boy 4/21/2022 4:58:38 AM (No. 1133976)
I never subscribed to Netflicks. Better things to do with my time. Same reason why I never became a social media junkie.
9 people like this.
Reply 17 - Posted by:
DCGIRL 4/21/2022 5:47:33 AM (No. 1133999)
When the Obamas and Rice joined the Board on Netflix, we cancelled. This streamer has been spiraling down since then.
16 people like this.
Reply 18 - Posted by:
Rinktum 4/21/2022 6:13:33 AM (No. 1134012)
I am finished funding the lifestyles of people who hate me and what I believe. No Netflix here and I will not support other woke companies. Let the crazies support their fantasies.
16 people like this.
Reply 19 - Posted by:
udanja99 4/21/2022 7:22:40 AM (No. 1134067)
We have Netflix but only because our daughter added us to her account. I use it occasionally to watch reruns of Downton Abbey and old episodes of NCIS before it went woke. The only good series that Netflix actually produced was The Queen’s Gambit, which I loved. But everything else on it is just garbage.
6 people like this.
We have made the mistake of enriching those who have used their wealth against us. (netflix and disney)
Hopefully....lesson learned well.
12 people like this.
Reply 21 - Posted by:
bigfatslob 4/21/2022 8:24:41 AM (No. 1134146)
Late last year we were offered a thirty-day free trial of Netflix. Myself liking old classics and westerns thought I would like it I was proved wrong. In searches all I received was, "You might like this" a cartoon western and absolutely no classics like Casablanca to be found we dropped Netflix in three days it sucked. I guess there is an audience who watches Hangover I, II and III or other junk movies like it. Obama, Susan Rice and the Markel's might have a lot to do with it.
6 people like this.
Reply 22 - Posted by:
Speedypetey 4/21/2022 8:31:23 AM (No. 1134153)
Stopped watching Netflix. The movies they made with the red N in the corner are poorly written scripts and with all the equality and bent relationships these are more painful as scratching your fingernails on a chalkboard. Ah, the good ole days when boys were boys and we knew they were girls.
4 people like this.
Reply 23 - Posted by:
Aubreyesque 4/21/2022 8:56:02 AM (No. 1134177)
Obamanation and the Harkles were worth it, weren’t they, Netfilx?
6 people like this.
Reply 24 - Posted by:
Strike3 4/21/2022 9:22:28 AM (No. 1134206)
That's a shame. I hope the Obamas were paid in Netflix stock instead of real money for their racist rants.
7 people like this.
Reply 25 - Posted by:
lennon47 4/21/2022 10:11:47 AM (No. 1134250)
Netflix woke off the wall liberals deserve failure. Bring the likes of Obama, Wright, you fail. Oh, how I love to watch Netflix go down. We will enjoy more failures from the left...America is sick of these creeps
6 people like this.
Reply 26 - Posted by:
The Remnants 4/21/2022 10:16:35 AM (No. 1134257)
#15 - I agree with you. "Cry Macho" is a fine movie. Got it in the library. Never heard anything about it before I got it. Really good story and good acting. Nothing fake about it - just like Clint (or so he seems). And Macho is the name of a little boy's pet rooster, so the title is different than what you expect the story to be about.
Got to promote conservatives' products!
5 people like this.
Reply 27 - Posted by:
Rather Read 4/21/2022 11:47:21 AM (No. 1134348)
I have Netflix and I mostly watch cooking shows and re-runs of older shows on it. I'm watching Better Call Saul right now (good series). I am waiting for the next season of The Crown. I saw a promo for a series about American National Parks narrated by Obama and decided not to give it a second of my time. I have HATED all the nature documentaries I've seen lately. All they are is "climate change, mankind is causing it and we have go green immediately or (insert animal here) will go extinct". That gets tiresome.
0 people like this.
Reply 28 - Posted by:
Scout Finch 4/21/2022 1:43:09 PM (No. 1134432)
We're on the 14th season for "Heartland" (highly recommend it--you can find DVD copies of the series at your local library), then it's KAPUT for Netflix. Our daughter was going to pull the plug when we're done, and we support her decision.
0 people like this.
Reply 29 - Posted by:
chuckscherl 4/21/2022 5:48:26 PM (No. 1134600)
Undoubtedly caused by the Woke Virus. I predict a new pandemic among the woke.
0 people like this.
Reply 30 - Posted by:
Ashley Brenton 4/21/2022 6:09:43 PM (No. 1134615)
Yeah, between inflation, gas prices, and food prices going up, I'm not surprised many Americans decide that Netflix is an expense they can do without.
1 person likes this.
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