Netflix Stock Plummets on Weak Subscriber Growth

11
301
Ernesto S. Ruscio/Getty Images for Netflix
Netflix CEO Reed Hastings
.

The streaming giant added 5.15 million subscribers during the period, less than the 6.2 million it had forecast in April.

Netflix shares dropped significantly on Monday after it reported slower-than-expected subscriber growth.

The streaming giant, which has seen user growth slow in the U.S. as it nears market saturation, had been counting on its global push to help it continue to grow at a rapid clip. And its international user growth disappointed on Monday, July 16 when it reported second quarter earnings results.

Netflix brought in 5.15 million total new members during the quarter, less than the 6.2 million it had forecast in April and the 6 million that Wall Street was anticipating. The company had planned to add 5 million international members during the period but, instead, added 4.47 million. Domestically, Netflix added 670,000 subscribers. It was Netflix’s weakest quarter in terms of subscriber growth since the first quarter of 2017, when it also missed its forecasts over total net additions.

CEO Reed Hastings, in a letter to shareholders, called the quarter “strong but not stellar.” He gave little reason for why Netflix’s subscriber additions came in under previous forecasts. For the third quarter, Netflix is being more conservative and forecast net subscriber additions of 5 million — 650,000 in the U.S. and 4.35 million internationally.

Investors have long valued Netflix based on its ability to continue to grow its subscribe base, even as it has raised prices. But they remain skittish about Netflix’s ability to sustain growth for an extended period of time, and Monday’s earnings report could be viewed as a sign that such momentum is slowing.

READ THE REST OF THE STORY  HERE  AT HollywoodReporter.com

11 COMMENTS

  1. Maybe because so much of what new titles they hold are unwatchable.
    Shows are made specifically for Netflix – not future classics Id say.
    With some exceptions of course – Bloodlines, Making of a murderer etc

  2. Why should we care if Netflix flourishes or crashes! I personally dont care. If you do, please tell me why you and why anybody should care. Rescue a pet, volunteer at the food bank, help seniors in need, find a charity to support, way more rewarding.

  3. I think one of the main reasons Netflix is going down the tubes right now is because of the news about the Obamas coming on board to produce shows for them. It would not only explain Netflix stock plummeting, but I wouldn’t be surprised in the least if people are cancelling their Netflix subscriptions because of the Obamas’ presence and likely influence on Netflix.

  4. GEORGE SOROS!!!

    Soros has bought controlling interest in Netflix and that is 100% good enough for me to NOT buy it and give Netflix any of my earned income. It’s quality of product, good, bad or indifferent is irrelevant to me as Soros is a global shit disturber and IMO is criminal and pure evil. Remember folks he is on record (CBS 60minutes interview in the 1990’s )saying essentially as an atheistic Jew in Hungary during WWII he and his father turned in Jews to the Nazi’s and he said it was some of the most exciting times of his life!

    NETFLIX CAN ROT AS A RESULT IN MY BOOK!

  5. The left will never understand that their extreme, rabid politics is destroying them. They live in a fantasy world where everybody should think like them and anybody who doesn’t should be demonized. Who do they think buys the movie tickets and Netflix subscriptions? It’s the working middle class (the very people they think they’re better than), not the inner city immigrants and refugees that they pander to for their votes by letting as many as they can into the country.

    Canadians of course think we’re morally superior to the Americans but we’re not. We’re just wimpier and always behind them. In the words of the great Leonard Cohen – “It’s coming to America first – the cradle of the best and the worst”.

    There’s a big surprise coming to the left – even bigger than Clinton’s loss – and everything you’re seeing in the mainstream media will be the cause of it.

  6. Rick,

    That’s correct, the liberal-left does not see what is coming. The silent anti-globalist, anti-socialist/liberal, pro-Trump, pro-nationalist majority is keeping its powder dry so to speak. November US midterms will see another shot across the globalist, left’s bow (President Trump’s win in Nov. 2016 was the first shot) equal to the size of a battle ship’s 16 inch guns.

    The anti-Trump farce and that includes the RINOS for his summit with Putin was made clear by Trump. He has a knack of showing or letting his opposition and those who are truly anti-USA, anti-west, anti-liberty, show their faces and play their hands.

    Trump was clear that the real issue to election meddling was not Russia, as there is no evidence that the state did so, but even if so THE ISSUE IS WHY THE US INTELLIGENCE COMMUNITY WAS INCAPABLE TO PROTECT THE USA FROM SUCH! Even Rand Paul who is not a Trumpian made note of that. Add the fact of how careless the DNC an HRC were with info and US intel. In fact the info is that any Russian meddling was equal between the Trump and HRC campaigns. REMEMBER THE DNC/HRC DID PAY RUSSIAN HACKS TO TRY TO GET INTEL ON TRUMP!!! FACT FOLKS, DON’T FORGET IT!!!

    Even the sham Mueller investigation has not found and says that no agreed to Russian interference CHANGED THE OUTCOME OF THE 2016 POTUS ELECTION! But the Trump Derangement Syndrome is high and we see it in our MSM media and their absurdity while attacking President Trump.

  7. Well, Les, and others

    It is astounding how orchestrated the reaction is to Trump meeting with Putin. Words put into mouths first and confirmation bias writ large. “Putin was KGB” OK George Bush Sr was CIA and Angela Merkel was Communist Youth. “Trump does not even believe his own intelligence agencies and the former head of the CIA says so”. Since when do intelligence agencies broadcast their intentions or suspicions? Really, give your heads a shake folks. Besides, the CIA works for the CIA and they are professional liars. “Authorities don’t lie” Yup, just ask the mother of the Polish visitor who got killed by the RCMP at YVR. Or ask about Operation Gladio, or Mockingbird, or British collusion (proven in court) with the IRA.

    The very same anti-Trump words coming out of so many different mouths. Orchestrated talking points. Wag the Dog. Then to hear Arnold get all macho about how Trump is a wet noodle. OK Arnie, if you want to go the “macho man, alpha dog” route: lets have a look at the “hottie” that you fathered a child with while you were married. Pure projection Arnold.

    Anyhow, Trump knew this was coming and I not only enjoying watching progressives’ heads explode, I am looking for Trump’s next move that causes even more faux outrage.

    Speaking of faux outrage. Listening to Sekeres on TSN 1040 yesterday and the venom and bile that he has towards Putin and Russia is really telegraphing, in my opinion, an unhinging-in-progress.

  8. It’s awesome to see how many on this forum who have obviously been red-pilled. No doubt you’re familiar with Q ANON! If not, please check it out. Its high caliber coded messages provided by Q, who appears to be military and closely connected to the Oval office. Having followed Q for about 6 months now, I’m amazed how accurate in what he is saying is all coming to fruition. I’ll provide Q’s website page, and one of several individuals who closely follow Q and de-code and help explain the messages. His name is Craig of JustInformed Talk. He gives an great introduction of What Is Q ANON?
    https://youtu.be/TQscIaCFOkI

    Q’s website
    https://qanon.pub/

  9. If President Trump had come out of Helsinki with a press conference where he verbally smacked Putin on the nose and gone double down on Putin, the MSM, Democrats, RINOS and all idiot liberal pawns would have called out President Trump for being belligerent and undiplomatic. That he should realize that Putin rests on thousands of nuclear weapons and this belligerence would not have helped. Just as they did when he was all Alpha male 7 months ago on North Korea. Yet when he changed from wielding a stick to a carrot with firm but diplomatic action with North Korea the same MSM, Democrats, RINOS and idiot pwns flamed him for being soft with North Korea.

    But President Trump carefully navigated being assertive while diplomatic and being honest that the US intel can be wrong and have been wrong in the past. Of course the next day President Trump politically clarified and noted that he accepts US intel on Russia interference in the election and one would think that should end this nonsense. But NO! the MSM, Democrats, RINOS and dumbo liberal pawns just keep going berserk and it’s amazing to see them show their vile faces or reveal their anti-Trump intentions.

    This said since the Nov. 2016 election President Trump is on record many times saying Russia and likely others did try to interfere with election but even US intel says it had no effect on the results. But don’t forget the DNC and HRC also paid Russians and ex British intel to dig up stuff on Trump.

    BTW, President Trump also says he has been the toughest President on Russia, and he’s right. Russia as we see it today became a nation in 1991. President Clinton, Bush Jr, and Obama are the Presidents before Trump who have had to deal with, work with and practice diplomacy with Russia. All three were rather weak and inconsistent on Russia since 1991. President Trump is and has been by far the toughest and most consistent in just his 18 months on Russia. Not belligerent, but firm and assertive which is what Alpha males like him and Putin actually want as they each KNOW WHERE THE OTHER GENERALLY STANDS! Obama was really just a pussy, Bush Jr. “Forrest Gump like goofy ” and Clinton was full of himself but quite passive.

  10. Democratic Supporters with Trump Derangement Syndrome seem to have no trouble attacking Republicans in Restaurants and other public places so It should be no surprise that Conservative thinkers might not be supportive of Netflix as it is affiliated with Obama and Soros.

    I do not know much about Netflix as I have not watched a minute of it but I am aware it was very popular not too long ago so there must be something that is causing viewers to abandon the network.

    I must say that getting into bed with Obama seems like a very odd arrangement. Nothing about Obama or his wife appeals to me.

    It is only my opinion but if Obama and/or his wife had any appeal or potential at all Oprah would have already done some sort of a deal with them.

This site uses Akismet to reduce spam. Learn how your comment data is processed.