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Netflix Lost 1.3 Million U.S. and Canadian Subscribers in Q2 2022

Wokis said:
Netflix learning the hard way that the ol' companies' long-term contract cable packages were designed that way for a reason ;)

I basically like two Netflix shows. Arcane and Stranger Things. Granted I liked both of them a lot (and the former one a lot lot) but it's not exactly keeping me subbed year-round.

The easy-to-rewatch shows with the high episode count they licensed are in the process of getting moved over to their parent companies' services so.. tough luck. They just have to keep trying to make more original hit shows. Easy to say but hard to do. Nothing else is going to help, though.
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At some point many of the popular streaming services will catch on and start making people sign contracts that lock you in. Just wait and see–it'll happen.
 
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They can add me once they start charging to use it in more than one location
 
Galaxy brain move:

1. Estimate how many subscribers you think you'll lose in the next quarter.
2. Double that when you tell shareholders.
3. 3 months later, NYT headline: "Netflix Says It Lost Nearly 1 Million Subscribers, and Breathes a Sigh of Relief"
 
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AppleTO said:
Does Netflix still license shows, or is it all originals now? I haven’t checked in a while. I remember back in 2016 or 2017 they had said that by 2022 or 2023 it would be purely their own content.
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I think their goal is to move away from licensed content.

They want to produce shows and movies themselves and own the rights rather than paying billions in licensing fees for reruns of old shows like Friends, Seinfeld, etc.

Then again... they're spending billions on their own content... and from what I hear a lot people don't like it. It's kinda sad when they make 100 new TV shows a year... and yet I hear "there's nothing to watch"

So... I dunno.

I'm glad I'm not the CEO

🤣
 
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I subscribed for one month just watch the Dave Chappell special and never watched anything else. I get Amazon Prime for free through work and YouTube provides just enough free content for me to watch. Also, I noticed as I get older, it’s becoming way harder for me to watch long format content.

This 2 minute and 10 minute videos on social media have messed me up.
 
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Wokis said:
Netflix learning the hard way that the ol' companies' long-term contract cable packages were designed that way for a reason ;)

I basically like two Netflix shows. Arcane and Stranger Things. Granted I liked both of them a lot (and the former one a lot lot) but it's not exactly keeping me subbed year-round.

The easy-to-rewatch shows with the high episode count they licensed are in the process of getting moved over to their parent companies' services so.. tough luck. They just have to keep trying to make more original hit shows. Easy to say but hard to do. Nothing else is going to help, though.
Click to expand...
Yeah Netflix is going to have to move to a model where they release a new episode a week to keep people interested in only a few of their hit shows to hop in and out of subscribing.
 
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erikkfi said:
Galaxy brain move:

1. Estimate how many subscribers you think you'll lose in the next quarter.
2. Double that when you tell shareholders.
3. 3 months later, NYT headline: "Netflix Says It Lost Nearly 1 Million Subscribers, and Breathes a Sigh of Relief"
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Well back in April they were warning they might loose 2 million.

So fast forward to todays news
Netflix loses subscribers, but stops the bleeding - CNN
  • Netflix reported Tuesday that it lost 970,000 subscribers in the second quarter of 2022 — a number far lower than its own forecasts, which had projected that the streaming giant would lose two million subscribers.
  • The company also said it would add another one million subscribers in the third quarter, a number that was slightly lower than Wall Street expectations. But investors were clearly happy with the results, and Netflix shares jumped as much as 8% on Tuesday in after-hours trading.
  • After disclosing in April that it lost 200,000 subscribers, leading to a steep drop in its share price, all eyes were on Netflix Tuesday, with Wall Street, Hollywood and the media world all hyper-focused on its subscription numbers. The company's shares had dropped dramatically during a nightmare year.
  • But Netflix's second quarter profit came in at $1.4 billion, up from $1.3 billion in the year-earlier quarter. Revenue jumped roughly 8.6% year over year, to $7.9 billion.
Thats not all bad news in the end.
 
lazyrighteye said:
Turns out, in that same quarter, HBOMax's subscription numbers increased by 1.2 million and AppleTV+'s went up by .1 million. Weird. 😜

Blaming your paying user base for performance metrics, while increasing revenue, is A) about as amateur as I have seen and B) not an effective strategy - if longevity is the goal. Even if they believed that to be true, had metrics showing just that, from PR pop, you don't make that belief public.

I've been a Netflix streamer since they launched. Over the years, I've grown weary of their increasingly bloated library of largely unwatchable content, price hikes and overall d-baggery. As many have stated here, I too am (and have been) considering leaving. This might be the thing that pushes me to finally implement a new streaming strategy I've been mulling.
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Turns out, HBO MAX probably has 1/20th the number of subscribers Netflix has and Apple TV+ which, to this day, I've paid $0 for yet somehow always get their shows for free, increased its subs is not surprising.

Next you'll tell me how great Vinyl is doing because they went from 10k sales in 2018 to 40k sales in 2022 and its going to over-take Spotify with such massive growth.

It's a poor comparison. Netflix has likely hit the extent of its growth, while the others are still growing (before they also because flat in growth).

Netflix still turned a 9% profit.

Don't call me a shill, I'd drop them if it wasn't for getting the service for like $3 or something from TMO.
 
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Enlightened Doggo said:
At some point many of the popular streaming services will catch on and start making people sign contracts that lock you in. Just wait and see–it'll happen.
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Many (Paramount, Peacock, HBO, Apple, Disney, Amazon, Discovery - Ok, nearly ALL OF THEM) of them already offer year long subscriptions at a discount with no pro-refund if you cancel.

I locked in 3 years of D+ for something like $110 before the service launched. Waste of money since its just Marvel crap
 
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contacos said:
HAHAHA

I wish them nothing but the worst. Blaming users for their fading business model is coming off as very condescending
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Blaming?? Did you not read the article? They are making more money with less customers. That's every company's dream.
 
So many good cancelled shows after so few seasons, so many good content leaving, so many crap staying. Prices increasing every now and then.
If it wasn't for my mother with whom I'm sharing my account, I would have already gone somewhere else.
I now go on Netflix every once in a blue moon. There are very few shows left that I find worthy (=good/great). They want me to pay more for sharing my account, I'll be glad to go.
 
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What I find strange about their password sharing argument is that they already charge and have always charged by the number of streams you can have at the same time… geo-locking those streams is going to prove problematic and I’m sure they would have done this ages ago if it didn’t as “household” is a nebulous concept… some customers have more than one house, kids go to college, etc… I suppose they will gauge how irate customers get to find a formula that yields higher profits, but milking paying customers might backfire as it's nothing but yet another price hike and customers are already weary of their incessant increases... in any case, this kind of model isn't what cool companies do, it's what desperate companies do....
 
JM said:
Yeah Netflix is going to have to move to a model where they release a new episode a week to keep people interested in only a few of their hit shows to hop in and out of subscribing.
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Yes..They need to add more quality series. they did before covid. Netflix wake up..pftt
 
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