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Netflix Stock Price Tanks As Customers Quit Over Higher Prices (theverge.com)
An anonymous reader writes: Netflix released its earnings report (PDF) for the second quarter today, where it reported $1.97 billion in revenue and net income of $41 million. The company did however report only 1.54 million subscribers, which is below its projections of 2.5 million new subscribers. As a result, stock is down around 14 percent in after-hours trading. "Our global member forecast for Q2 was 2.5m and we came in at 1.7m. Gross additions were on target, but churn ticked up slightly and unexpectedly, coincident with the press coverage in early April of our plan to ungrandfather longer tenured members and remained elevated through the quarter," Netflix wrote. "We think some members perceived the news as an impending new price increase rather than the completion of two years of grandfathering." The company defended its price hikes, writing that "while ungrandfathering and associated media coverage may moderate near term membership growth, we believe that ungrandfathering will provide us with more revenue to invest in our content to satisfy members, thus driving longterm growth." In the past, Netflix gained 13 million new subscribers in 2014, and 17 million in 2015. Comcast will reportedly allow Netflix onto its X1 platform, which may entice more customers to the streaming service.
Pay attention to the summaries, you nitwit!
"I don't know, therefore Aliens" Wafflebox1
This story is not about people leaving. It's about them not getting as many NEW customers as they thought.
Of all the streaming services, Netflix has the highest member retention.
You are welcome on my lawn.
Not to mention the inconsistent availability of third party content. Movies and shows get pulled seemingly at random, which is especially annoying if you are mid-season.
It used to be better than torrents, not so much anymore.
you didn't lose 1080p, you never had it. MS Edge increased resolution to 1080p while other browsers haven't, that is a reason it isn't gonna fly? everyone was always at 720p in browsers, MS proposed a tech that they got content providers to accept which allowed them to go to 1080p, other browsers can do exactly the same, this is not a MS exclusive deal. The others I agree with, VPN blocking and limited content is shit.,
Peaky Blinders is original content? Might want to tell the BBC. Exclusive, maybe (except it is on iPlayer)...
"Wait. Something's happening. It's opening up! My God, it's full of apricots!"
You have to pay extra for a lot of the stuff on Amazon. For example, they have Dexter, but it's £2.50 per episode (!) where as on Netflix you can stream every episode as part of the subscription price. On Amazon it's actually cheaper to buy the physical box set, rather than their DRM-crap-laden download.
If you compare what Amazon has available for streaming their library is even worse than Netflix's.
const int one = 65536; (Silvermoon, Texture.cs)
SJW, n: "Someone I don't like, and by the way I'm a fuckwit" - AC