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Netflix Gains Six Million Subscribers After Password Sharing Crackdown
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Isn't that the point? There's waaay more than 2.8 streaming platforms, and to start making the kind of money they need to, the likes of Netflix and Disney need to keep growing their subscriber numbers month by month, which means retaining existing ones, not having them rotate between the other services. One way that I was managing to keep across several services was password sharing, i.e. my mum paid for Netflix, I paid for Disney, and we all had log ins. If they start cracking down on that *and* people still stick to the 2.8 average, something is going to break eventually. How long can i.e. Lionsgate+ keep operating as a separate service? What's the end goal for them?
I guess we will see that happen, but that’s the whole reason they exist in the first place!
No, they exist to provide a service that people would want. Making a reasonable profit is part of the overall goal but the password word thing is nothing more than a money grab to increase profit and nothing to do with improving services, that was their goal in my opinion. Netflix excuse in doing the password thing has always been about getting money to improve their service, to provide better content. You watch, I bet you that will not happen or if it does it will be very very minimal because they want the new found money to go to directors and shareholders.
And immediately they increased the prices. Cause the free market self regulates and all that.. It only self regulates in the sense of taking as much as possible from the people. It's not really connected to costs anymore for most businesses and that's partly why we're seeing these crazy profits at the same time when people are struggling with paying for food and rent/mortgages. The free market needs a lot more rules to protect people.
I could post other similar things but as they fall in the realm of politics would not fly here...
This is in parts just a temporary effect, and nobody knows to what extent. Initially, people are caught off guard and they just sign up to continue watching. Later the person who paid for the family account figures they don't need it anymore, and the person who signed up realizes their new subscription is not actually worth it.
A streaming service can match the speed and content of a cable TV service. It all depends on the content they wish to purchase. It's like saying CD's will never go out of business. There will always be a newer way to distribute content. CD's may literally never go out of business, but they will be a small player compared to music streaming services or even purchasing digital music.
The whole reason a business exists is to make money; businesses that don’t make money go out of business.
I'm sure there are some at Netflix who have a giggle at these comments.
Honestly, most people here have no idea how businesses work. They aren't charities. Password sharing probably got out of hand and 6 years is a long time, so financials can change.
It's also important to consider inflation will have hit all industries hard, so costs go up. Netflix was also in major debt (US$14.3bn in 2022), so they've had to find ways to recoup and make money. Consumers are becoming more demanding, so producing content has become incredibly expensive. TV series are no longer budget level 90's sitcom style events, but feature film budget events for each episode with major Hollywood actors.
Also, Netflix does not benefit from theatre royalties as it goes against their ethos, whereas Amazon and other streaming services are beginning to push towards cinema releases first, but I'm sure many of you would moan if that decision was also reversed.
All in all, the cost was initially too low. I always questioned how they managed to sustain it for that level of money, especially when consumer demand grows day on day.
As to those who wish to unsubscribe, go for it. You weren't Netflix's target audience, and they will probably lose about 2-3% of subscriptions short-term before recouping that in a couple of months. (They're already growing at about 107%).
And for those who think Netflix are fudging the numbers, think again. They are a publicly traded company, so unlike crypto and privately traded businesses like Twitter, they are bound to release quarterly statements to shareholders, and these are independently audited. I'm certain all companies tweak in minor areas, but at the crux of it, that's criminal fraud. Netflix has too many suppliers and reaches out to too many areas to effectively get away with that for so long.
Anyway....funny thread.
Honestly, most people here have no idea how businesses work. They aren't charities. Password sharing probably got out of hand and 6 years is a long time, so financials can change.
It's also important to consider inflation will have hit all industries hard, so costs go up. Netflix was also in major debt (US$14.3bn in 2022), so they've had to find ways to recoup and make money. Consumers are becoming more demanding, so producing content has become incredibly expensive. TV series are no longer budget level 90's sitcom style events, but feature film budget events for each episode with major Hollywood actors.
Also, Netflix does not benefit from theatre royalties as it goes against their ethos, whereas Amazon and other streaming services are beginning to push towards cinema releases first, but I'm sure many of you would moan if that decision was also reversed.
All in all, the cost was initially too low. I always questioned how they managed to sustain it for that level of money, especially when consumer demand grows day on day.
As to those who wish to unsubscribe, go for it. You weren't Netflix's target audience, and they will probably lose about 2-3% of subscriptions short-term before recouping that in a couple of months. (They're already growing at about 107%).
And for those who think Netflix are fudging the numbers, think again. They are a publicly traded company, so unlike crypto and privately traded businesses like Twitter, they are bound to release quarterly statements to shareholders, and these are independently audited. I'm certain all companies tweak in minor areas, but at the crux of it, that's criminal fraud. Netflix has too many suppliers and reaches out to too many areas to effectively get away with that for so long.
Anyway....funny thread.
They are growing at about 107% in subscriber numbers...they're doing something right...
Yes we need a centrally planned and controlled economy.
What I do agree that we need is for much higher taxes to be paid by successful companies. However, in many country’s the duly elected governments will NOT do this because there are vested interests in said companies. Additionally, as long as there are tax havens and companies are permitted to funnel profits through those tax havens, this will not be resolved. However, trying to get a country that benefits massively economically from being a tax haven to STOP being a tax haven is a difficult ask. You effectively need to create a global tax law (which plays straight into the hands of the conspiracy theorists regarding ‘one world government’).
Maybe global companies need global wide regulations?
That is just it, companies take the public for fools when they increase costs is the result of a free market. It may have meant that a number of years ago but BS to that now. A free market means how much greedy profit a company can make at the expense of a poor service. Free market no longer gives the public good services, all it does it make bosses and shareholders richer whilst the consumer suffers. Look at all the companies that made profits during the pandemic and now the energy crisis. Have any of these companies upped their game in provide us the public/consumer a better service? hell no. All they do is raise prices, announce huge profits and then give the their directors huge bonuses whilst government watchdogs/overseers just sit back and let the companies get away with it.
Will Netflix provide a much much better service with all this new found wealth from the changes they made to the password policy? hell no. They will make excuses that money had to be spent elsewhere. They will probably announce staff reductions because lets face it, how many other companies have been downsizing on employee's lately? quite a few.
Netflix IS audited. It's a publicly traded company. Both the SEC and E&Y audit Netflix activities and report this information back to the shareholders.
If enough consumers don’t think Netflix offers good value and end their subscription then Netflix will sit up and take notice. Until that happens, your own individual gripes about the service are (frankly) not important. I don’t mean that horribly, I just mean you do not have any power as an individual to change anything; you would need many many more consumers to feel the same way you do to have an effect.
This is why Apple does not make changes based on the moans and gripes of a few people on this forum and instead listen to what the majority of people want.
You are one of the few posters that actually gets this is a business.
The last thread on Apple's *free* iCloud storage, where members moaned about not getting enough, made me chuckle.
So many people want it all for nothing. I guess for many, money grows on trees....
No it is not. There are two reasons why a business exist, reason 1 is wanting to help people which has the result of making the business money but making money was not the primary factor and reason 2, purely to make money, nothing more, nothing less.
That's total croc.
Do you really think Apple gives a flying hoot about you? They make good products to make heaps of money. The more they massage their customers' ego, the more $$$ we are willing to part with, in their direction. People are greedy. They want lots of dollar bills and if it means making good products, then great.
But let's not fool ourselves. The end goal is $$$.
Even good charities see the same. Their end goal is $$$, but the difference is the money gets distributed differently.
No business exists simply to make people happy with $$$ as a secondary target. Those that do exist this way are destined to fail.
ETA, one more thing to add. Those that appear to want to make people happy and have money as a secondary objective are just very clever, and they keep their earnings discreet. A great example of this was FTX. Sam Bankman was seen as a "hippie" geeky guy who just wanted to help to make the world a better place. He would boast of his Prius and was very discreet about his money.
The reality was he was hoarding millions. How much, we will never know, but his goal was $$$. We were just all duped by his "Robin Hood" story. Many fell for it, and even more were stung when it eventually collapsed.
I don’t understand why people are complaining… the streaming market is one of the healthiest markets in the entire world economy. Not perfect, but healthy!
You have plenty of cheap and even dirt cheap options (5.99!!!) + opting out entirely by pirating.
What else do you want? 8K HDR no ads for 0.99? And yall would still find something to complain about.
You have plenty of cheap and even dirt cheap options (5.99!!!) + opting out entirely by pirating.
What else do you want? 8K HDR no ads for 0.99? And yall would still find something to complain about.
So it provides enough value to subscribe right now and share, but the second they say non paying people can’t use it, it loses its value? Make it make sense
Well, if you think it is BS then I hope you go to every single business in the world and call the owners 'liar' to their face when they say they did what they did to help others and was not all about money because believe me there are business owners out there who have their business because they want to help others or are doing what they are doing because they turned their love for something or a hobby into a business and not just purely to make money. Yes there are many businesses out there who sole purpose for existence is to make money but not every business is like that and if you still think it is BS then please make video posts on social media of you asking business owners why they created their business and if they say anything other than making money then I want to see you call them a downright liar because that is what you are accusing all businesses of doing. If you don't then I know your post if just full of BS.
Look up the term "en****ification" its become so pervasive not just in tech but everywhere. I'm sick and tired of companies doing this crap. I'm sick and tired of watching products and services I consume become worse and I'm forced to hunt down replacements. It's such a waste of time, energy and resources having to seek out and evaluate replacements for everything to watered-down soap to ****** streaming services. Also all the waste that's created by throwing out crappy physical products.
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I'm sorry, but that is total delusion on your part.
I agree you need to enjoy what you do and that's a huge plus, but the end goal is to make money. Period.
And what might those "easy ways" be?
I haven't tried, but according to Netflix, VPN doesn't work because your account is tied to your physical address.