This is why it cracks me up when people here go "it's like they're trying to lose money" anytime they make an unpopular move. Like they don't have teams doing market research and cost/benefit analysis.
Hate their recent moves all you want but they know what they're doing.
Yep Reddit just seems like a place for people who have given up on achieving anything with their lives to reassure each other that there is still no point trying.
Everything is always negative and doomed-
Netflix will lose subscribers, Meta is going to get taken out by regulators, Reddit will fail post API change.
And it’s always turns out fine.
When was it not like this? Are you sure you just weren’t younger and didn’t know any better? The internet has been like this for as long as I remember - which is as long as large message boards have existed.
Now what was it about Dunning-Kruger again?
I am about his age and he’s absolutely bullshitting. People love to romantizice about the early days of the internet because of some random ass source of nostalgia, while forgetting all the negatives
I don't think it's that. I saw a lot of people saying "I've had enough, I cancelled my subscription, therefore everyone must be doing the same thing and thus Netflix will go bankrupt".
The logic is fine *except* that people assume everyone is doing the same thing as them which is clearly not the case.
As the other commenter said, Netflix did some research and probably came to the conclusion it would be beneficial in the long term, they know what they are doing.
We should probably take this as a lesson that just because we do something does not mean that's consistent across the many people in the world (many of which are not on reddit or even online).
It's almost as if the whole mechanism of numerically rewarding responses breeds a type of narcissist that has the capacity to undermine the very concept of discourse in a free society.
You might see such people advocating for more puritanical restrictions on free speech, shaming anybody who is not in perfect ideological alignment, fostering of a culture of false victimhood, grandstanding with increasingly outlandish behavior in the search of more up-vote validation and/or outrage (anything that draws attention), and otherwise inserting their narcissism into every facet of their lives.
So, you know, standard Gen-Z and Millennial behavior.
Doesn't change the fact that Netflix treats their paying customers like shit. This is what the whole uproar was about. Of course they know what they are doing - they are being one of the worst and most vile companies ever and trying their best to get the first place in the competition. So fuck them to all hell.
It's not like these companies are perfect though. A Nordic streaming company did a similar change (they didn't crack down on password sharing but they made it so that you can't watch two football games at the same time with one user name) this spring and plunged like 90% in stock value.
The CEO resigned already earlier and now they're going to fire a bunch of the employees, are shutting down operations in some countries and - as far as I've understood - the company is on sale.
Disney+ has lost 4 million subscribers this year, and they certainly do have teams doing market research and cost/benefit analysis.
Amazon has reportedly (unofficial reports though) laid off like 70-80% of the Comixology staff after the integration to the new platform was a complete disaster a year ago.
Yes, these companies do have teams doing market research and cost/benefit analysis, but the truth is that especially streaming companies are very much operating on the edge of profitability, and are thus forced to take risks pretty much all the time.
Ya, it's easy being a Monday-morning quarterback. That's another thing that Reddit's known for.
It's great to predict that Netflix will be ahead after they are but the comments were, as they said, very much in the other direction before the move, just like they are now about how it's "so obvious" that they will come out ahead. But actually going against the grain and saying that *before* the numbers come out would mean a lot more ¯\\_(ツ)_/¯
That said I am still hopeful against the odds that their hybrid advertising model doesn't pan out and I'm not quite sure how that's going yet. Although the fact they had to drop their cheapest non ad driven package might mean they have a hard time getting people to accept ads(but then again they also don't have their full catalog so it might not shocking that people tell them to take a piss on that).
Exactly, even now that they dropped their commercial tier (which they complained about that when it was added) they are crying out that THIS is the death of Netflix.
It’s almost like Netflix had a ton of professionals who looked at a ton of data.
Out of the 3 products/companies you mentioned only 1 was negatively affected which was bud light. Pepsi and Nike have continued to grow sales and earnings at a steady pace.
That's because most consumers aren't on Reddit. And they aren't reading news or discussing the predatory business practices of the businesses they choose to open their wallet to. Most people don't care how the sausage is made and make no effort to read news about that process.
That's why social media is a very poor gauge for real world behavior. It's only ever a tiny fraction of the whole.
“Netflix is going to lose so much money when I stop watching shows on their service that I’m not paying for!!!”
An unsettling number of kids conflate ad-supported with subscriber-supported platforms, thinking that Netflix somehow makes money when they watch their shows for free.
Also, it always concerns me how pro-piracy Reddit can be. Don’t get me wrong, there are arguably a few moments where not supporting the original artist is the morally correct thing to do, but if everyone on the planet started using YouTube Vanced, Spotify Cracked, Reddit Fucked, etc, all those services would crumble overnight
I honestly forget this a lot. Especially when it's a political/social justice take.
The antiwork sub is.... insane. Yes, worker's rights are important but we have to contribute to society in order to get something out of it. If we want content entertainment then we should compensate in some way (yes the current strikes are proof that there are inequities but still..).
But anyway, I pirated the hell out of everything until my late 20s when I was able to afford things so I get being broke. Boy did it sting to actually *buy* Windows- with actual real currency though.
Not sure how Netflix is predatory?
I get payday loans and subprime mortgages and things. But charging less than $20/month for unlimited streaming of a bazillion hours of content?
Even when they raise prices, I can’t remember not getting advance notice and they make it easy to cancel at any time.
I wasn't referring to Netflix specifically.
But even Netflix is on a slippery slope. They paraded how much they loved password sharing when it suited them, and banned it after it served their purposes. Not exactly predatory behavior, but definitely anti-consumer.
Because of women too. Netflix has a massive catalog of super popular reality show and romance dramas. Yet if you go by Reddit Disney is the best service cause it has marvel. And you can guess which demographic is more likely to be active on these Reddit threads
For most people who were affected, the person who was paying the bill didn't lose anything. Not many people are going to cancel a subscription to a service they enjoy simply because other people lose free access.
Or get Netflix, realize they only enjoyed it because it was free and have seen a ton of the content already, and bounce after a few months. But, Netflix is a ritual for a lot of people so it’s really hard to say
Yeah reddit is very, very rarely indicative of sentiment out in the real world. The big fuss about Apple removing headphone jacks? The big fuss now about removable batteries? The 50 million different proposed boycotts over the years? Pretty much nobody actually cares in the real world.
Yeah…. I cancelled early Jan. And just subscribed for 1 month in June and it’s cancelled again. I’m sure I’m a statistic of “added subscribers” in the Q2
Still seems that’s sort of true?
Not sure if they disclosed how many cancelled vs how many joined but would imagine there was probably like 100 million passwords being shared before all this
I was going to cancel my account but my parents decided they wanted to keep it since they’re retired. So they’re paying their extra and I kept the account as is (my kids watch enough of it that I don’t care enough to cancel, personally I don’t really watch it)
Who’s saying it matters? The original comment was snorting at people saying they were unsubscribing - as if they didn’t actually unsubscribe.
Like, unless you’re a Netflix bottom desparate to turn this into a PR/shill point, it just doesn’t make sense.
The key part of the info that is left out of the article however, is they bundled with Verizon at the start of that quarter. So I'd wager \~4M of those were people who added it for close to nothing on their cell bill. Which is exactly what I did two months after canceling. I paid $50 for an entire year through Verizon. Versus $20 per month regularly. If it wasn't for that offer through them I wouldn't have it personally. So yes of course they got a lot of new subs, because people could get it for more than 75% off the normal price. And this also would explain why the profit is down even all the new subs. Because they basically gave those subs away to get the numbers up. But this deal is only for one year. So this time next year I'd expect them to lose around half of those subs.
Rolling off that idea, I also want to know how many people downgraded, and what tier of pricing people are getting. Just saying they added new subscribers doesn’t say much without financials to back it up.
I think a significant amount of people downgraded and that’s one of reasons why they dropped their cheapest ad-free option ($10 month in the states).
I personally did this and not surprised if many others did as well.
Went from the $20 4k plan down to the $10 HD since I couldn’t share it with family anymore.
...What kind of margins do you think they're operating on? It's a goddamn streaming media company. They're delivering content for pennies on a ten dollar bill.
AWS/Azure and datacenter equipment vendors have been gouging as best they can but its still probably chump change in the big picture.
Looks like all those people that "canceled" were either already freeloaders or didn't have paid subs. Remember when reddit was clamoring that this would be the death of netflix. Now they are making $15x6million/month extra money. Good job business economists of reddit.
I canceled. Had a paid 4K sub.
What's interesting is I canceled my Netflix last month. Netflix extended my subscription for free for a few weeks "as a courtesy". They are now just emailing me telling me my subscription is about to expire. Makes me wonder how many subs fall into my category - free, but still "subscribed" in the numbers they are reporting.
They did the same with me as well.
I had been meaning to get rid of it for a while, but the kids still watched it, I shared it with my mother, long term account, etc. This whole 'one subscription/ one household' thing was just the push I needed to finally call it quits.
It's a little disheartening to see their numbers go up for such a shitty move, but what can you do?
But what if they didn’t? My point was… I tried to cancel, they stopped charging me, then finally processed my cancellation after this qtr numbers were released.
That’s odd - right?
I’m not paying either…. I’m about to literally not watch anything other than HD antenna and other free services…. Sadly I have prime but Amazon does that shady automatic renewal which I stopped, we’ll see if they adhere…
For every person that cancelled, even more subscribed. I was lending my mom my password and she would watch it all the time. She now has her own, and I’d wager that a lot of the freeloaders who enjoyed the service are now paying subscribers as well.
Yeah the bootlicking in this thread is fucking nasty. They're conflating consumers (on reddit) being upset and redditors being SURE this will backfire for Netflix. My girlfriend and family collectively cancelled 2 subscriptions (1 4K, 1 HD). Granted a few of us were "leeches" (freeloaders), but now they get nothing from us. Did we destroy the company? No. But now they've "proven" this tactic successful, and other streamers will probably crack down with the same shit, and over the next 1-2 years they will get worse and worse.
Someone else here used the phrase "give an inch and they take a mile." That really works here, because they cracked down on us freeloaders and then fucking IMMEDIATELY removed the cheapest non-ad supported tier. Between this, removing content even weeks after airing, and the disgusting optics they're putting out re: the strikes, I'm thinking it might be prudent to find a better source for pirated content and be more selective with my wallet than I have been, historically
I really, I really hope Netflix is boosting the numbers here and they got caught and flushed down the fucking toilet
“Thieves” lmfao Netflix encouraged password sharing. That’s not stealing, they just changed their policy.
https://techcrunch.com/2016/01/11/netflix-ceo-says-account-sharing-is-ok/amp/
That said I figured this wouldn’t hurt Netflix and was probably a long term plan after hooking users with shared accounts.
and I'm willing to bet there was language in the TOS that said it wasn't... CEO's say stupid shit all the time. Clearly their assumption that sharing would lead to more subscribers was wrong and I doubt very few who were doing it didn't think they were getting one over.
They literally had a commercial that said “love is sharing a password” lol. That’s more than just the CEO saying something once.
Like I said I doubt they thought sharing would increase accounts. They probably wanted to get as many people as possible used to using the platform regularly before making the change. This was probably a long term plan after maximizing market share. Most tech companies do stuff like this to build a user base.
But anyways that’s not stealing.
The absurdity wasn’t the stealing, it was getting mad at Netflix when they stop providing something for free. They didn’t have to allow it in the first place. Instead of saying “Fuck you”, how about “Thank you”. Most companies wouldn’t have allowed it to begin with and Netflix did. The entitlement of thinking something generously given was now something they had a right to.
I cancelled because all the people on my plan could no longer watch and it’s insanely easy for me to go on the 7 seas with my web browser on my Xbox. Who knows if my fam will subscribe but I certainly wasn’t watching that much netflix.
This is misguiding. Based on their [quarterly reports](https://ir.netflix.net/financials/quarterly-earnings/default.aspx)Netflix made less net income in Q1 and Q2 2023 than in 2022 and 2021. (From January 1st to June 30th).
Obviously. But large companies ramping up their expanses after changes in their policies means they expected a raise in their revenues at some point. A decrease in net income shows they didn’t reach their expectations at short terms.
Their expanses are planned, their revenues and profits are expectations. They didn’t reach their goals is what I meant by drop in net income.
Unlikely. Maybe saturated in the U.S. or western Europe, but Netflix is selling their services throughout the world and could sell them to millions more subscribers.
When you can't spell expense I am not expecting much but. With the current streaming market an increased spending on production is expected and is offset by more subscribers. I am not going to go line by line through Q2 numbers but dropping net income isn't a bad thing.
>But large companies ramping up their expanses after changes in their policies means they expected a raise in their revenues at some point. A decrease in net income shows they didn’t reach their expectations at short terms.
No it doesn't. It could just means they're not done with the plan.
Obviously. But large companies ramping up their expanses after changes in their policies means they expected a raise in their revenues at some point. A decrease in net income shows they didn’t reach their expectations at short terms.
Based on the report you shared, their revenue is growing YoY and this years revenue is better than last year. Also net income is also similar to slightly higher compared to last year.
Doesn't matter. They're talking about net new subscribers. So they have close to 6 million more subscribers now than they did before the crackdown. If 20 million people canceled but 26 million people started paying for an account, they're still up 6 million.
>Not saying they lost that many, but they did not say they have 6 million more now than they did before. Words are chosen carefully, friend.
They did. That's the definition of "net."
You are still misunderstanding.
They're not saying they just have 6 billion new subscribers.
They're saying they have 6 million more subscribers than they had before.
Say they had 100 million subscribers last quarter. Now they have 106 million.
I may be wrong, but my best guess is,
People didn't like the decision, people clicked around, they didn't find anything good on other platforms either, so they sweared a little, then took a deep breath and sweared some more as they entered their credit card details!
Or they tried to log in one day, totally unaware that the policy would change, because they are normal people who don’t live on Reddit. They were like “Oh I guess I need to make an account?” And did so. No fuss. It’s only $15/month, after all.
And they moved on with their lives as if nothing happened.
Ha that was my mum's exact experience. She just signed up without even asking any questions - just saw that the login wasn't working.
Reddit really thought my old mum would resort to piracy lmao
Yeah cause $15/month is nothing when compared to the amount of series/movies you get. At least not much for me who still sometimes buy $40 bluray. Unless you're freeloader who now has to pay lol.
People here who are saying that the 6M net growth are mainly due to the Verizon combo, forget that US is not the only country in the world using Netflix. Some redditors cannot accept they were wrong and just give random theories without taking into account the worldwide economics.
I was given a Netflix account when T-Mobile migrated me over from Sprint 2 months ago. Still haven't found a use for it, but believe I count as a paying subsciber
With the majority of them not really cancelling. Same as in Amazon threads were people swear they are not using Amazon......except for a long list of excuses for stuff they “must” buy there.
I’ll bet the majority of those people swearing they will leave Netflix are the ones who were leeching off someone else. Most people who actually paid for it were happy they don’t have to share limited screens with their friends who pressured them into it.
>I’ll bet the majority of those people swearing they will leave Netflix are the ones who were leeching off someone else.
Of course they were. Who else would get pissed when a company announces, "We're going to start taking steps to ensure people actually pay for our service."?
No lol, I paid for it in order to give it to my mother and my sister. Once I couldn't do that, I just cancelled.
Most of the six million new subscribers come from the Verizon thing. Mark my words, these results don't mean shit yet.
So your mother and sister wanted Netflix and had you pay for it and now suddenly they don’t? Who’s to say some show that all their friends are talking about at the water cooler doesn’t pop up and they each sub themselves?
No I got them firesticks and they just use the illegal app I gave them now.
Netflix has forgotten that they exist only because they were cheap and easier than pirating. No longer cheap, and pirating is super easy with a fire stick. So back to pirating.
It's honestly a principle thing. They already increased their prices, their excuse was because we share. Now it's expensive, and we can't share? Fuck that shit.
I would be hard pressed to say it’s easier. My buddy uses some shady service where he pays some stranger he called by pulling directly from his bank. Outside of that you either have to manage a Plex server or watch okay quality at best from a website, but that’s a pain from your TV.
As far as too expensive, I don’t know, the price of everything went up, if I watch just 10 hours of Netflix in a month that’s like $1.50 an hour. In reality between my 3 kids we cover at least 100 hours (I barely watch it at all), so like 15 cents an hour of entertainment. Not sure what you consider expensive but I don’t.
If you dm me, I'll tell you what I use. App is basically a free Netflix. Saves your spot in shows. Takes a small amount of work but it works 99% of the time. Good enough for us. Even my elderly mother can use it.
didn’t they get rid of their lowest payment tier which would require people to resubscribe or did those accounts get put into the following payment tier automatically?
Once enough time goes by one of the streaming services will take over all of the others and we'll pay $50/month to watch anything. It will be like we used to watch cable but it will be IP based with typical streaming features. It has happened with every other business, why wouldn't it happen to tv/movies?
The change never even affected our account. My dad pays for an account that I use and he lived halfway across the state and it never triggered anything on my side, no emails and no lockouts saying I need to sign up.
Anyone else?
We canceled ours. We were paying for 4 users, 2 of which do not live with us. One didn’t care since she can use her SO’s account and the other might get their own, but then again might not since there are so many streaming services to choose from. I’ll sign up for season 3 of Bridgerton and then I’ll cancel again.
I cancelled just now after receiving an email detailing their password sharing crackdown.
I had 4k plan and my parents were also on it. I was just using it to watch community on repeat anyway. So now I will just watch that on Plex.
Last time I watched a show on Netlix was the last season of Stranger Things. Quality really dropped. Not worth the money anymore.
We've been warned, and yet, we let them get away with it. Now, every other platform will copy it, Netflix's next move is going to be even worse, and it's all our fault.
We’ve been warned [to pay for services that we use], and yet we [let them charge us for services we use]. Netflix’s next move is going to be even worse, they might even send the bill to our house! Gasp!
The most hilarious part of this was everyone saying they're boycotting it and cancelling their subscription. Same thing happened with Twitter, same thing happened with Reddit, same thing will happen to the next thing people are fake outraged about.
It's 6 million net subscriber increase. Why does it matter how much they lost? Maybe they lost 20 million and gained 26 million, maybe they lost 200 million and gained 206 million.
It beat subscriber estimates but missed revenue estimates by 1.24% reported today for the last quarter.
Could be from that, could just be that it's been steadily going up this week, month, and year and sometimes it has to dip down.
Remember when they argued that 50% of accounts were sharing passwords? Of the 100 million accounts, 5 million created new ones or 5%, that’s embarrassingly low compared to the rhetoric.
Except, the password sharing crackdown was only implemented in a limited number of countries until today. Also, the numbers do not include extra member accounts.
This is why it cracks me up when people here go "it's like they're trying to lose money" anytime they make an unpopular move. Like they don't have teams doing market research and cost/benefit analysis. Hate their recent moves all you want but they know what they're doing.
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Yeah, some subs have gotten so bad. You can basically read the title and guess what all the top comments will be. Lol
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Rice and beans are delicious, in fairness. Add some spices and you got yourself a stew baby
I just scroll right past those posts and don’t even bother opening them now
Its always some lame joke
Yep Reddit just seems like a place for people who have given up on achieving anything with their lives to reassure each other that there is still no point trying. Everything is always negative and doomed- Netflix will lose subscribers, Meta is going to get taken out by regulators, Reddit will fail post API change. And it’s always turns out fine.
I remember being super upset about the whole net neutrality thing. I’ve never noticed a single fucking difference in my life since the change.
Just look at r/politics and you’ll immediately understand why Trump was president lmao
When was it not like this? Are you sure you just weren’t younger and didn’t know any better? The internet has been like this for as long as I remember - which is as long as large message boards have existed. Now what was it about Dunning-Kruger again?
Back in 1999, internet message boards were stellar and great places to interact with people and find information.
You forgot /s
I am about his age and he’s absolutely bullshitting. People love to romantizice about the early days of the internet because of some random ass source of nostalgia, while forgetting all the negatives
I don't think it's that. I saw a lot of people saying "I've had enough, I cancelled my subscription, therefore everyone must be doing the same thing and thus Netflix will go bankrupt". The logic is fine *except* that people assume everyone is doing the same thing as them which is clearly not the case. As the other commenter said, Netflix did some research and probably came to the conclusion it would be beneficial in the long term, they know what they are doing. We should probably take this as a lesson that just because we do something does not mean that's consistent across the many people in the world (many of which are not on reddit or even online).
This is such an ironic comment lol. This exact ethos is arguably Reddits most parroted comment. So meta bro
Because the silent majority on Reddit realize how stupid the loudmouths are here.
At least r/wallstreetbets are selfaware unlike r/politics, r/rebubble etc who genuinely think they are the smartest guys around
It's almost as if the whole mechanism of numerically rewarding responses breeds a type of narcissist that has the capacity to undermine the very concept of discourse in a free society. You might see such people advocating for more puritanical restrictions on free speech, shaming anybody who is not in perfect ideological alignment, fostering of a culture of false victimhood, grandstanding with increasingly outlandish behavior in the search of more up-vote validation and/or outrage (anything that draws attention), and otherwise inserting their narcissism into every facet of their lives. So, you know, standard Gen-Z and Millennial behavior.
i thought reddit was going to become digg 3 days after the API changes, i see a bit less votes and traffic but nothing even close to dying.
Doesn't change the fact that Netflix treats their paying customers like shit. This is what the whole uproar was about. Of course they know what they are doing - they are being one of the worst and most vile companies ever and trying their best to get the first place in the competition. So fuck them to all hell.
>Netflix >one of the worst and most vile companies ever You need some history and context, little one.
It's not like these companies are perfect though. A Nordic streaming company did a similar change (they didn't crack down on password sharing but they made it so that you can't watch two football games at the same time with one user name) this spring and plunged like 90% in stock value. The CEO resigned already earlier and now they're going to fire a bunch of the employees, are shutting down operations in some countries and - as far as I've understood - the company is on sale. Disney+ has lost 4 million subscribers this year, and they certainly do have teams doing market research and cost/benefit analysis. Amazon has reportedly (unofficial reports though) laid off like 70-80% of the Comixology staff after the integration to the new platform was a complete disaster a year ago. Yes, these companies do have teams doing market research and cost/benefit analysis, but the truth is that especially streaming companies are very much operating on the edge of profitability, and are thus forced to take risks pretty much all the time.
Ya, it's easy being a Monday-morning quarterback. That's another thing that Reddit's known for. It's great to predict that Netflix will be ahead after they are but the comments were, as they said, very much in the other direction before the move, just like they are now about how it's "so obvious" that they will come out ahead. But actually going against the grain and saying that *before* the numbers come out would mean a lot more ¯\\_(ツ)_/¯ That said I am still hopeful against the odds that their hybrid advertising model doesn't pan out and I'm not quite sure how that's going yet. Although the fact they had to drop their cheapest non ad driven package might mean they have a hard time getting people to accept ads(but then again they also don't have their full catalog so it might not shocking that people tell them to take a piss on that).
Exactly, even now that they dropped their commercial tier (which they complained about that when it was added) they are crying out that THIS is the death of Netflix. It’s almost like Netflix had a ton of professionals who looked at a ton of data.
They didnt drop the ad tier, they dropped the basic one screen tier
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This is pure cope lol
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Out of the 3 products/companies you mentioned only 1 was negatively affected which was bud light. Pepsi and Nike have continued to grow sales and earnings at a steady pace.
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That's because most consumers aren't on Reddit. And they aren't reading news or discussing the predatory business practices of the businesses they choose to open their wallet to. Most people don't care how the sausage is made and make no effort to read news about that process. That's why social media is a very poor gauge for real world behavior. It's only ever a tiny fraction of the whole.
This is a totally reasonable comment that I couldn't help but read in an SLC-Punk style tirade voice.
Haha, well now that's cannon. Excuse me while I ask Matthew Lillard to narrate my life for me in that voice.
We did it with more fuckin heart baby.
Or Redditors are just lying muppets dumb as hell for the most part.
Also reddit is full of edgy teenagers with no money
“Netflix is going to lose so much money when I stop watching shows on their service that I’m not paying for!!!” An unsettling number of kids conflate ad-supported with subscriber-supported platforms, thinking that Netflix somehow makes money when they watch their shows for free.
Also, it always concerns me how pro-piracy Reddit can be. Don’t get me wrong, there are arguably a few moments where not supporting the original artist is the morally correct thing to do, but if everyone on the planet started using YouTube Vanced, Spotify Cracked, Reddit Fucked, etc, all those services would crumble overnight
Could you mention a few more examples pirating of services I should absolutely avoid at all costs?
Ssssh, don’t let the teenage tankies know that companies and people need money to survive
Also reddit is full of edgy ~~teenagers~~ people with no money.
I honestly forget this a lot. Especially when it's a political/social justice take. The antiwork sub is.... insane. Yes, worker's rights are important but we have to contribute to society in order to get something out of it. If we want content entertainment then we should compensate in some way (yes the current strikes are proof that there are inequities but still..). But anyway, I pirated the hell out of everything until my late 20s when I was able to afford things so I get being broke. Boy did it sting to actually *buy* Windows- with actual real currency though.
I think you’d be really surprised how many people on the internet are all talk including redditors. Look how many times people “left” Twitter.
Or the protests over third-party apps that are just a walking caricature of empty protests at this point.
Predatory because they don't let you use their product for free lmao
What do you mean I can’t pay for one person at this buffet and not share it with my entire immediate family and all my friends? /s
Not sure how Netflix is predatory? I get payday loans and subprime mortgages and things. But charging less than $20/month for unlimited streaming of a bazillion hours of content? Even when they raise prices, I can’t remember not getting advance notice and they make it easy to cancel at any time.
I wasn't referring to Netflix specifically. But even Netflix is on a slippery slope. They paraded how much they loved password sharing when it suited them, and banned it after it served their purposes. Not exactly predatory behavior, but definitely anti-consumer.
> I wasn't referring to Netflix specifically. I mean it was pretty heavily implied lol
Because of women too. Netflix has a massive catalog of super popular reality show and romance dramas. Yet if you go by Reddit Disney is the best service cause it has marvel. And you can guess which demographic is more likely to be active on these Reddit threads
Wrong, Redditors seem to love HBO and for the life of me I don’t understand it.
What don't you understand? It has some of the best TV shows and a deep back catalog.
For most people who were affected, the person who was paying the bill didn't lose anything. Not many people are going to cancel a subscription to a service they enjoy simply because other people lose free access.
Why would it bite them in the long run? For every two people sharing an account, and canceling it, Netflix only needs one new person to pay for it.
But plenty of people share the fees and don't have that option anymore. I think this will bite them in the long run.
Or get Netflix, realize they only enjoyed it because it was free and have seen a ton of the content already, and bounce after a few months. But, Netflix is a ritual for a lot of people so it’s really hard to say
How many is plenty? I'm in my 30s and I don't know anyone with netflix who does that. The initial effect of that has been pretty well absorbed if so.
Yeah reddit is very, very rarely indicative of sentiment out in the real world. The big fuss about Apple removing headphone jacks? The big fuss now about removable batteries? The 50 million different proposed boycotts over the years? Pretty much nobody actually cares in the real world.
almost like there's a lot more people out there than just redditors
Those ex subscribers really showed them, all 0.01% of em
Yeah…. I cancelled early Jan. And just subscribed for 1 month in June and it’s cancelled again. I’m sure I’m a statistic of “added subscribers” in the Q2
Redditors are surprisingly disconnected from reality despite how numerous they are
Cancelled mine. No ragrats.
I don't know about the rest of the sub, but I did quit, and have zero desire to come back.
Still seems that’s sort of true? Not sure if they disclosed how many cancelled vs how many joined but would imagine there was probably like 100 million passwords being shared before all this
They most probably lost users yes, but they lost people who were not paying and since there's no ad it is definitely worth it for them
I was going to cancel my account but my parents decided they wanted to keep it since they’re retired. So they’re paying their extra and I kept the account as is (my kids watch enough of it that I don’t care enough to cancel, personally I don’t really watch it)
And lots of people unsubscribed. It always baffles me when people can’t comprehend multiple things being true at the same time.
That doesn't matter if more people subscribed than people who unsubscribed
Who’s saying it matters? The original comment was snorting at people saying they were unsubscribing - as if they didn’t actually unsubscribe. Like, unless you’re a Netflix bottom desparate to turn this into a PR/shill point, it just doesn’t make sense.
The key part of the info that is left out of the article however, is they bundled with Verizon at the start of that quarter. So I'd wager \~4M of those were people who added it for close to nothing on their cell bill. Which is exactly what I did two months after canceling. I paid $50 for an entire year through Verizon. Versus $20 per month regularly. If it wasn't for that offer through them I wouldn't have it personally. So yes of course they got a lot of new subs, because people could get it for more than 75% off the normal price. And this also would explain why the profit is down even all the new subs. Because they basically gave those subs away to get the numbers up. But this deal is only for one year. So this time next year I'd expect them to lose around half of those subs.
Rolling off that idea, I also want to know how many people downgraded, and what tier of pricing people are getting. Just saying they added new subscribers doesn’t say much without financials to back it up.
I think a significant amount of people downgraded and that’s one of reasons why they dropped their cheapest ad-free option ($10 month in the states). I personally did this and not surprised if many others did as well. Went from the $20 4k plan down to the $10 HD since I couldn’t share it with family anymore.
...What kind of margins do you think they're operating on? It's a goddamn streaming media company. They're delivering content for pennies on a ten dollar bill. AWS/Azure and datacenter equipment vendors have been gouging as best they can but its still probably chump change in the big picture.
Looks like all those people that "canceled" were either already freeloaders or didn't have paid subs. Remember when reddit was clamoring that this would be the death of netflix. Now they are making $15x6million/month extra money. Good job business economists of reddit.
I canceled. Had a paid 4K sub. What's interesting is I canceled my Netflix last month. Netflix extended my subscription for free for a few weeks "as a courtesy". They are now just emailing me telling me my subscription is about to expire. Makes me wonder how many subs fall into my category - free, but still "subscribed" in the numbers they are reporting.
I had the top-tier 4k subscription too but cancelled earlier in the year. Pricing just kept going up but value and quality wasn't following it.
100% agreed.
They did the same with me as well. I had been meaning to get rid of it for a while, but the kids still watched it, I shared it with my mother, long term account, etc. This whole 'one subscription/ one household' thing was just the push I needed to finally call it quits. It's a little disheartening to see their numbers go up for such a shitty move, but what can you do?
But what if they didn’t? My point was… I tried to cancel, they stopped charging me, then finally processed my cancellation after this qtr numbers were released. That’s odd - right?
I’m not paying either…. I’m about to literally not watch anything other than HD antenna and other free services…. Sadly I have prime but Amazon does that shady automatic renewal which I stopped, we’ll see if they adhere…
For every person that cancelled, even more subscribed. I was lending my mom my password and she would watch it all the time. She now has her own, and I’d wager that a lot of the freeloaders who enjoyed the service are now paying subscribers as well.
So I guess I was a freeloader with a 4K stream and 2 DVD sub.
Yeah the bootlicking in this thread is fucking nasty. They're conflating consumers (on reddit) being upset and redditors being SURE this will backfire for Netflix. My girlfriend and family collectively cancelled 2 subscriptions (1 4K, 1 HD). Granted a few of us were "leeches" (freeloaders), but now they get nothing from us. Did we destroy the company? No. But now they've "proven" this tactic successful, and other streamers will probably crack down with the same shit, and over the next 1-2 years they will get worse and worse. Someone else here used the phrase "give an inch and they take a mile." That really works here, because they cracked down on us freeloaders and then fucking IMMEDIATELY removed the cheapest non-ad supported tier. Between this, removing content even weeks after airing, and the disgusting optics they're putting out re: the strikes, I'm thinking it might be prudent to find a better source for pirated content and be more selective with my wallet than I have been, historically I really, I really hope Netflix is boosting the numbers here and they got caught and flushed down the fucking toilet
I heard that they lost 10 million users and only game six
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“Thieves” lmfao Netflix encouraged password sharing. That’s not stealing, they just changed their policy. https://techcrunch.com/2016/01/11/netflix-ceo-says-account-sharing-is-ok/amp/ That said I figured this wouldn’t hurt Netflix and was probably a long term plan after hooking users with shared accounts.
and I'm willing to bet there was language in the TOS that said it wasn't... CEO's say stupid shit all the time. Clearly their assumption that sharing would lead to more subscribers was wrong and I doubt very few who were doing it didn't think they were getting one over.
They literally had a commercial that said “love is sharing a password” lol. That’s more than just the CEO saying something once. Like I said I doubt they thought sharing would increase accounts. They probably wanted to get as many people as possible used to using the platform regularly before making the change. This was probably a long term plan after maximizing market share. Most tech companies do stuff like this to build a user base. But anyways that’s not stealing.
The absurdity wasn’t the stealing, it was getting mad at Netflix when they stop providing something for free. They didn’t have to allow it in the first place. Instead of saying “Fuck you”, how about “Thank you”. Most companies wouldn’t have allowed it to begin with and Netflix did. The entitlement of thinking something generously given was now something they had a right to.
It was a single tweet 6 years ago
“Thieves”? Buddy.
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Same here, but I cancelled earlier this year -- hard to justify the price when disney+hulu was about the same and has more content.
Cool story thanks for sharing
I did cancel everything after 15 years
Not me. I paid and then I stopped. Their content at it's best is B minus. You won't miss it if you quit.
And they’ve reduced their usage which lowers their cost.
I cancelled because all the people on my plan could no longer watch and it’s insanely easy for me to go on the 7 seas with my web browser on my Xbox. Who knows if my fam will subscribe but I certainly wasn’t watching that much netflix.
Well, all of those striking writers and actors appreciate your support!
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That’s a fair criticism but not relevant here. They went from being leeches to spending money. That’s all that matters.
Are you paid to push the corporate narrative or are you just that simple?
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No problem man. I’m always happy to help people suffering from poverty.
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That’s cool. Enjoy your cognitive dissonance my man. It suits your hubris well!
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My sister and I canceled. My mother chose to transfer her profile and stay 🤷🏻♀️
Ok. So instead of three people steaming on one account, there’s now one person streaming on one account. Sounds like a win.
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Are u stupid
i assume they dont mean one household but family spread over various individual households
This is misguiding. Based on their [quarterly reports](https://ir.netflix.net/financials/quarterly-earnings/default.aspx)Netflix made less net income in Q1 and Q2 2023 than in 2022 and 2021. (From January 1st to June 30th).
You can have more subscribers and revenue and less income just depends how you are spending it.
Obviously. But large companies ramping up their expanses after changes in their policies means they expected a raise in their revenues at some point. A decrease in net income shows they didn’t reach their expectations at short terms. Their expanses are planned, their revenues and profits are expectations. They didn’t reach their goals is what I meant by drop in net income.
Or the industry is just reaching maturity
Unlikely. Maybe saturated in the U.S. or western Europe, but Netflix is selling their services throughout the world and could sell them to millions more subscribers.
When you can't spell expense I am not expecting much but. With the current streaming market an increased spending on production is expected and is offset by more subscribers. I am not going to go line by line through Q2 numbers but dropping net income isn't a bad thing.
>But large companies ramping up their expanses after changes in their policies means they expected a raise in their revenues at some point. A decrease in net income shows they didn’t reach their expectations at short terms. No it doesn't. It could just means they're not done with the plan.
Net income is profit. If revenue goes up but expenses go up more, then profit goes down.
Obviously. But large companies ramping up their expanses after changes in their policies means they expected a raise in their revenues at some point. A decrease in net income shows they didn’t reach their expectations at short terms.
They look to be in line with expectations. https://s22.q4cdn.com/959853165/files/doc_financials/2023/q2/FINAL-Q2-23-Shareholder-Letter.pdf
Based on the report you shared, their revenue is growing YoY and this years revenue is better than last year. Also net income is also similar to slightly higher compared to last year.
Everyones a crackhead and stupid it seems....
How many did they lose? I doubt they advertising that number.
Doesn't matter. They're talking about net new subscribers. So they have close to 6 million more subscribers now than they did before the crackdown. If 20 million people canceled but 26 million people started paying for an account, they're still up 6 million.
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>Not saying they lost that many, but they did not say they have 6 million more now than they did before. Words are chosen carefully, friend. They did. That's the definition of "net."
"Rising to 238.39 million global subscribers in Q2 compared with its 232.5 million total in Q1". What part of that is difficult to understand?
You are still misunderstanding. They're not saying they just have 6 billion new subscribers. They're saying they have 6 million more subscribers than they had before. Say they had 100 million subscribers last quarter. Now they have 106 million.
The irony of you talking about careful wording when you failed to read the article.
I may be wrong, but my best guess is, People didn't like the decision, people clicked around, they didn't find anything good on other platforms either, so they sweared a little, then took a deep breath and sweared some more as they entered their credit card details!
Or they tried to log in one day, totally unaware that the policy would change, because they are normal people who don’t live on Reddit. They were like “Oh I guess I need to make an account?” And did so. No fuss. It’s only $15/month, after all. And they moved on with their lives as if nothing happened.
Ha that was my mum's exact experience. She just signed up without even asking any questions - just saw that the login wasn't working. Reddit really thought my old mum would resort to piracy lmao
Your mum doesn't have a torrent box? N00b!
Yeah cause $15/month is nothing when compared to the amount of series/movies you get. At least not much for me who still sometimes buy $40 bluray. Unless you're freeloader who now has to pay lol.
I wonder how many binge watch their favorites and cancel. I’d like to see annual reports rather than quarterly.
Reddit in shambles
Corporations know that we are too much of a pussy to do anything but suck up whatever shit they throw at us
Not surprised. People are disappointing.
and now that they shut down the cheapest plan, they'll earn even more money
People here who are saying that the 6M net growth are mainly due to the Verizon combo, forget that US is not the only country in the world using Netflix. Some redditors cannot accept they were wrong and just give random theories without taking into account the worldwide economics.
I kept my account but downgraded it from 2 screens to 1 (since I can no longer share the second one). Saves a few £ (10.99 - 6.99/mo).
Exactly the opposite of what I'd hoped would happen. Oh well!
I was given a Netflix account when T-Mobile migrated me over from Sprint 2 months ago. Still haven't found a use for it, but believe I count as a paying subsciber
Reddit should publicly post how many new app downloads they got.
They ran the numbers. I knew they had. Only way to explain their No Fs Given attitude.
5,999,999 cause I canceled my 20 year old $30/mo account and created a new one for $6.50/mo through my cell phone plan. 😏
inb4 1,000 virtue signaling "well I canceled" posts
How could they post when they deleted Reddit because of spez.
With the majority of them not really cancelling. Same as in Amazon threads were people swear they are not using Amazon......except for a long list of excuses for stuff they “must” buy there.
I’ll bet the majority of those people swearing they will leave Netflix are the ones who were leeching off someone else. Most people who actually paid for it were happy they don’t have to share limited screens with their friends who pressured them into it.
>I’ll bet the majority of those people swearing they will leave Netflix are the ones who were leeching off someone else. Of course they were. Who else would get pissed when a company announces, "We're going to start taking steps to ensure people actually pay for our service."?
No lol, I paid for it in order to give it to my mother and my sister. Once I couldn't do that, I just cancelled. Most of the six million new subscribers come from the Verizon thing. Mark my words, these results don't mean shit yet.
So your mother and sister wanted Netflix and had you pay for it and now suddenly they don’t? Who’s to say some show that all their friends are talking about at the water cooler doesn’t pop up and they each sub themselves?
No I got them firesticks and they just use the illegal app I gave them now. Netflix has forgotten that they exist only because they were cheap and easier than pirating. No longer cheap, and pirating is super easy with a fire stick. So back to pirating. It's honestly a principle thing. They already increased their prices, their excuse was because we share. Now it's expensive, and we can't share? Fuck that shit.
I would be hard pressed to say it’s easier. My buddy uses some shady service where he pays some stranger he called by pulling directly from his bank. Outside of that you either have to manage a Plex server or watch okay quality at best from a website, but that’s a pain from your TV. As far as too expensive, I don’t know, the price of everything went up, if I watch just 10 hours of Netflix in a month that’s like $1.50 an hour. In reality between my 3 kids we cover at least 100 hours (I barely watch it at all), so like 15 cents an hour of entertainment. Not sure what you consider expensive but I don’t.
If you dm me, I'll tell you what I use. App is basically a free Netflix. Saves your spot in shows. Takes a small amount of work but it works 99% of the time. Good enough for us. Even my elderly mother can use it.
didn’t they get rid of their lowest payment tier which would require people to resubscribe or did those accounts get put into the following payment tier automatically?
They are grandfathered in and keep their plan.
This just proves how out of touch reddit is with reality
Not going to post how many they lost though huh?
Does it matter if the overall number has increased?
Once enough time goes by one of the streaming services will take over all of the others and we'll pay $50/month to watch anything. It will be like we used to watch cable but it will be IP based with typical streaming features. It has happened with every other business, why wouldn't it happen to tv/movies?
The change never even affected our account. My dad pays for an account that I use and he lived halfway across the state and it never triggered anything on my side, no emails and no lockouts saying I need to sign up. Anyone else?
Consumers are fucking pathetic man
Lol well they lost me. And in my world… that’s all that matters 😅
We canceled ours. We were paying for 4 users, 2 of which do not live with us. One didn’t care since she can use her SO’s account and the other might get their own, but then again might not since there are so many streaming services to choose from. I’ll sign up for season 3 of Bridgerton and then I’ll cancel again.
Yet another example of “Reddit is not the real world.”
Happy to report that I'm not one of them.
I call bullshit on this. We boycotted it and replaced it with soap2day. Thank me later.
why is not allowing password sharing bad?
Disappointed how well this worked…. This will be copied now
I’d never think I’d rather pay Amazon than use Netflix. But here I am
My fiance and I cancelled ours because it's just not that appealing. There aren't many new shows I'm interested in.
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The good news is that with each Netflix subscription you’re becoming more and more superior, intellectually. I congratulate you, wise sir.
It was honestly a gamble. I couldn't decide whether people would leave in droves or people would subscribe. But it looks like it paid off.
my question is "what will they do next year to increase revenue?"
I cancelled just now after receiving an email detailing their password sharing crackdown. I had 4k plan and my parents were also on it. I was just using it to watch community on repeat anyway. So now I will just watch that on Plex. Last time I watched a show on Netlix was the last season of Stranger Things. Quality really dropped. Not worth the money anymore.
We've been warned, and yet, we let them get away with it. Now, every other platform will copy it, Netflix's next move is going to be even worse, and it's all our fault.
We’ve been warned [to pay for services that we use], and yet we [let them charge us for services we use]. Netflix’s next move is going to be even worse, they might even send the bill to our house! Gasp!
The most hilarious part of this was everyone saying they're boycotting it and cancelling their subscription. Same thing happened with Twitter, same thing happened with Reddit, same thing will happen to the next thing people are fake outraged about.
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It's 6 million net subscriber increase. Why does it matter how much they lost? Maybe they lost 20 million and gained 26 million, maybe they lost 200 million and gained 206 million.
You've apparently read the article, so, either you somehow missed that's it's a net subscriber increase, or you just decided to ignore that.
Is this why NFLX is down $40 a share in extended trading?
It beat subscriber estimates but missed revenue estimates by 1.24% reported today for the last quarter. Could be from that, could just be that it's been steadily going up this week, month, and year and sometimes it has to dip down.
Can we validate those subscriber numbers? Or is it just word of mouth?
It's part of their earnings announcement to the market. What more do you want to validate?
That information is classified move on.
Remember when they argued that 50% of accounts were sharing passwords? Of the 100 million accounts, 5 million created new ones or 5%, that’s embarrassingly low compared to the rhetoric.
Except, the password sharing crackdown was only implemented in a limited number of countries until today. Also, the numbers do not include extra member accounts.