19:48 • 1 year ago

Netflix’s downward slide continues: Investors hate them even more now

800,000 fewer folks give Netflix money source

» Oh, and it gets worse: The once-high-flying company now has 99 problems, and a shrinking stock price is one — one that dipped 26 percent in after-hours trading today. The company — which recently raised the cost of its legacy DVD plan, tried to split off DVDs into a separate site and then backed off after everyone hated it — also informed investors today that it would have a couple of unprofitable quarters as it expanded into the UK and Ireland. ”We expect the costs of our entry into the UK and Ireland will push us to be unprofitable on a global basis; that is, domestic profits will not be large enough to both cover international investments and pay for global G&A and technology and development,” the company said. CEO Reed Hastings blamed the drop in subscribers on the price increase.

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vestidos-2012 reblogged this from thenoobyorker
vestidos-2012 likes this
silas216 reblogged this from shortformblog and added:

[UNINFORMED OPINION AHEAD] As much as I’d love to blame...for their recent stupid moves...
silas216 likes this
atreeandarose likes this
austinvegas reblogged this from shortformblog and added:

I’m one of them (that dropped them).
suckermountain likes this
nickrecommends likes this
vegansquirrelmonster likes this
jamie-reads-thenews reblogged this from shortformblog
relaytheurgency said: I didn’t drop Netflix because of the money, I dropped them because they hadn’t added anything compelling to their instant library in months (at the time of my departure). Meanwhile, Amazon has been adding content and cuts students a deal..
jumblejo likes this
afrofuturismscholar reblogged this from shortformblog and added:

If pushing into European markets are unprofitable, why do it—especially since...clearly...
afrofuturismscholar likes this
afrofuturismscholar said: If pushing into European markets are unprofitable, why do it—especially since Netflix clearly needs to reinvest in its domestic market and repair the damage from its own greed?
trebaolofarabia reblogged this from thenoobyorker and added:

I feel bad for Netflix because their problem isn’t with the service, it’s with the companies that own all these films....
kateoplis likes this
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thenoobyorker reblogged this from joshsternberg and added:

We wouldn’t have this problem (and by this problem I mean modernity) if we kept making drawings on the walls of caves in...
joshsternberg reblogged this from shortformblog and added:

this problem (and by this problem, I mean...economic malady) if we just kept visiting...
legospaceship said: Don’t you think it’s a non issue, ultimately? Can you see the core of their streaming business going anywhere? I don’t see any other folks in the space being able to rise up and challenge them right now unless i am missing something.
indieandyy said: yikes… it feels like very soon netflix will shut down…
indieandyy likes this
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