Having lost subscribers for the first time in more than a decade, Netflix faces the new challenge of stagnation from a position of strength.
A drop of just 200,000 users -- less than 0.1 percent of its total customer base -- was enough to send Wall Street panicking, with shares plunging more than 30 percent on Wednesday.
"When we were growing fast, it wasn't the high priority to work on," co-founder Reed Hastings admitted. "And now we're working super hard on it." For Pivotal analyst Jeff Wlodarczak, streaming "appears nearly fully penetrated globally post-Covid," and the companies now must set their sights on converting pirates into subscribers, gaining greater market share from each other and driving up prices."
For University of Richmond professor Joel Mier, Netflix's price increases and axing of password sharing are "peripheral but meaningful" short-term solutions, while its long-term strategy remains "investing in local-content creation and establishing its gaming presence."
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ex-UVU student tells of surviving, and having a baby, in Ukraine war zoneAnton Piddubnyi and Valentyna Piddubna fell in love in Utah, and returned to Ukraine before the war began.
Read more »
Former Tempe high school teacher accused of having an inappropriate relationship with a studentA Tempe high school teacher is facing charges and possible prison time after allegedly having an inappropriate relationship with a student and becoming jealous and aggressive went the student stopped talking to him.
Read more »
Taylor Lorenz Wrote About Libs of TikTok -- and Conservatives Are Having a Meltdown Over ItPopular (and controversial) social media account plays into the right’s growing homophobia and anti-trans agenda
Read more »
Russia accuses Biden of having dementiaA Russian newspaper aligned with Putin's government is taking aim at President Biden, claiming he suffers from dementia as pressure mounts in Ukraine.
Read more »