Price, screen sharing and wokism: Netflix sinking?
Netflix had been experiencing a slowdown in its progress for several months, but for the first time in 10 years of existence the streaming platform is losing subscribers. Even though the firm made 1.6 billion in profit in the first quarter of 2022 (slightly less than last year), Netflix lost 200,000 subscribers worldwide. The forecasts are not good since this loss of customers could increase in the coming months. Result of this quarterly review: the share price fell by -25%!
In the dock:
The prices !
Indeed the prices of Netflix subscriptions have continued to increase. The Premium formula with the possibility of viewing programs in 4K with 4 screens simultaneously has gone from €11.99 in 2014 to €17.99. The formulas have seen their prices readjusted upwards every two years since 2017. Between competitors (Disney+, Amazon Prime) and other paid subscriptions (sports channels, Spotify, Xbox Game Pass), Netflix weighs more and more in a family budget…
The solution ? Not much to do on that side apart from standing out by always offering more original content… There is also talk of a subscription at very low prices, but which would include advertising.
Screen sharing
When the results were good, they said nothing. But now that their stock has collapsed by a quarter of its value, it’s no fun. Netflix executives take a very dim view of these people who take advantage of the platform without paying. Because with the Premium subscription (4 screens) or the Standard subscription (2 screens) it is possible to share your connection code with one or more friends so that they can enjoy the programs at home.
The solution ? Pay for this sharing of course! We don’t really know how they will do it technically. How do I know if the other screens are at the subscriber’s or in another location? Filtering at the IP level? But if you are traveling?
Wokism!
It is interesting to note that this fall in the number of subscribers and these poor results come just at the time when the broadcast of He’s Expecting Where Mr. Hiyama’s Pregnancy : a Japanese series based on a successful manga. The earthy Elon Musk even split a tweet to denounce Netflix’s “woke” drift. It must be said that this is not the first time that Netflix has been accused of doing a little too much in terms of the visibility of minorities: black actors in a series set in early 19th century England (The Bridgerton Chronicle), the systematic replacement of white characters by “racialized” ones or the addition of LGBT characters to the forceps.
The solution ? Stop wanting absolutely to “fit in” minorities at all levels. We can’t imagine Jack Nicholson playing the role of Nelson Mandela in a biopic. And if by chance Musclor became gay in the Netflix adaptation, would that bring something interesting to the story?
The woke mind virus is making Netflix unwatchable
— Elon Musk (@elonmusk) April 20, 2022
