A brief history of Netflix’s 2022 first quarter wins
Feb 4, 2022: Netflix announces it will start cracking down on password sharing. Media forgets this is what they first reported on in March 2021 and about every two months since then.
Feb 21, 2022: Netflix (along with Amazon,) amid absolutely obscene profits of 30+ billion dollars, decide to jack prices on all their customers for same quality streaming. This includes their “4K” offerings which they’re jacking up the most (it’s absolutely abysmal quality).
March 17, 2022: media forgets that Netflix already announced it will crack down on password sharing.
April 20, 2022: media forgets that Netflix already announced it will crack down on password sharing.
April 20, 2022: Netflix announces it lost 200,000 subscribers. This is the first loss of any quarter in ten+ years. Priced at $10-20 monthly, 200,000 subscribers represents between $24 million and $48 million revenue a year gone.
April 20, 2022: Netflix stock loses 35% in a one day $50+ billion market cap decapitation.
And sometime in the next few days one brave Netflix CEO will step up, point to all of that, and say “see, obviously we needed to raise the prices because we just lost 50 billion of someone else’s money, and let’s give those account sharers more hoops to jump through because obviously they’ll subscribe if we just make things annoying and crack down.”
Netflix currently has 221.64 million subscribers. Don’t worry, that money that appears lost, that’s all people’s who stood behind the company and believed in it. Netflix will do just fine as they pass along any loss of obscene profits to subscribers.
Meanwhile 1337 & ThePirateBay’s servers cry under the newly increased load…
