"It cannot be overstated just how bad of a report this is for the king of streaming. The company's stock has fallen more than 40% year to date, and coming into the earnings there was a lot of concern from investors regarding its growth. The company hasn't lost subscribers in more than a decade."
We count ourselves among those who canceled our subscription after about 7 years.
Netflix was an alternative to the endless 'crap' that was Cable TV. It was curated, often premium content so the subscriber saw the value in the service. Today it seems like Netflix is trying to be 'everything for everybody' feeling more like a traditional cable TV than a premium streaming service.
The service feels less curated and more filler. For every amazing movie or series, there are dozens, if not hundreds of reality shows, game shows, real-life crime series that are nearly carbon copies of each other and their cable TV counterparts.
Admittedly cutting off service in Russia does skew the subscriber loss somewhat. But it will be interesting to see if and how Netflix adjusts its content strategy to recreate that "must-see-TV" of Stranger Things and other content that was unique to the platform.
Filling the platform with endless 'stuff to watch' isn't going to cut it if they want continued growth. They'll have to be strategic to keep an audience tuned into curated, quality content they just can't find anywhere else.
A delicious challenge and as someone heavily invested in content creation and streaming platforms, I'm very interested to see where this story goes next.
