Despite this week’s modest bounce back, there’s no way of spinning recent events as anything but bad news for Netflix.
Floor Is Lava. Photo: Adam Rose/Netflix Hollywood’s old guard has been complaining for years about what they see as a double standard for Netflix. Instead of being judged on ratings, box-office grosses, and actual profits — the way networks and studios have been evaluated for decades — Wall Street only seemed to pay attention to the streamer’s ever-increasing subscriber tally and content spend.
It didn’t matter that, in the very same sentence, Netflix also noted its subscriber numbers were growing in every market where new competition had launched. Or that, just a few days earlier, traders had rallied behind Netflix stock after the streamer announced a U.S. price hike. Nope, all it took was a couple of lines in an earnings report for the seers of Wall Street to decide #NetflixIsAJoke and bail en masse.
So exactly how bad is it? As a member of the Fellowship of the Newsletters, this is where I’m expected to render some sort of expert opinion or throw out a prediction about where things are headed. But the fact is, I really don’t feel confident here forecasting what happens next.
➼ Adding new members has always been the yardstick for success at Netflix, but growing in size isn’t the only way to boost revenues: There’s always the option of adjusting prices. And indeed, the streamer has done just that in the U.S. and Canada, hiking the fee for its most popular plan by $1.50, and it’s possible it could do something similar in some other mature markets where it feels it would be safe to ask members for a bit more.
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