Netflix Reports 54% Profit Increase Following Account Sharing Ban

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Cancelled this pile of dog …… last year.
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I'm surprised they saw a profit increase - I would've expected a 54% decrease.
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Losing faith in people more and more...
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Stock price is still down 10% from last week. Might be time to buy some to swing trade.
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Al about those passwords people. Other than a bit of backlash, most people got their own account and just bit the bullet because they clearly liked the service, they just didn't like paying for it and were using it effectively for free on someone else's account. If you give people that option, they will take it, but remove that option does not mean they will leave the service - Netflix knew this, and hit the ban hammer hard, kinda forcing people into an untenable position and I think in truth, people knew this day was coming and just signed up for an account. The TV subscribers went up the most, which makes sense.
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Yeah they lost me too for this. I used it so rarely(like 1-2x/year) and only when travelling. The account was my family account that my parents at their home use too and rather not get them banned; rather just stop using Netflix.
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They spend too much money on TV shows to ever make a profit.
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If they're not faking the numbers, maybe true now, let's see in the next fiscal year... They will lose a lot of users for sure.
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f3l1p3:

If they're not faking the numbers, maybe true now, let's see in the next fiscal year... They will lose a lot of users for sure.
It's not sustainable for many viewers once they have watched everything they wanted to. Perhaps 2 months max. I suppose it depends on how many customers just forget they are still subscribed. I mean 100 million they paid for Harry and Meghan Markle in 2020. the next contract is for 80 million.
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still they don't have the money to hire a random bob gui developer to fix the windows app
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I still like Netflix, they for sure have dropped off a little lately but there are still come great shows on there.
Ghosty:

They spend too much money on TV shows to ever make a profit.
Currently they have 269,600,000 subscribers. Even if they are on the cheapest payment. 269,600,000 x $6.99 = $1,884,504,000 PER MONTH that is only factoring in the lowest price tier of $6.99 which comes with ads
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CPC_RedDawn:

I still like Netflix, they for sure have dropped off a little lately but there are still come great shows on there. Currently they have 269,600,000 subscribers. Even if they are on the cheapest payment. 269,600,000 x $6.99 = $1,884,504,000 PER MONTH that is only factoring in the lowest price tier of $6.99 which comes with ads
The biggest question is how much the total is once payments have been paid for movies, TV shows etc. I expect it to be far, far lower than that amount. Everything on Netflix is paid for by Netflix themselves?
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Ghosty:

The biggest question is how much the total is once payments have been paid for movies, TV shows etc. I expect it to be far, far lower than that amount. Everything on Netflix is paid for by Netflix themselves?
they make very few big budget movies, normally around 3-4 per year if not less. they mainly focus on lower budget standup comedies with lesser known comedians, TV shows based on already established IP's and once again with lesser known younger actors. They have also jumped around the world a lot of found some new and fresh shows (squid game, etc) which cost them very little. They also make a ton of documentaries which are super cheap to make, these focus on interviews, public footage, and b roll. Sure there are outliers such as "the irishman" and "red notice" each costing between 150-200 mil, their smaller shows cost nowhere near this amount. Everything else is leased for a certain time period and dropped if it doesn't perform.
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CPC_RedDawn:

They have also jumped around the world a lot of found some new and fresh shows (squid game, etc) which cost them very little.
nope this pic is just Netflix Hollywood... Netflix corporate is about 4x larger here in the valley the vast majority of content is made by independent production houses who produce under contract and have "the studios" distribute it. which is why there's a zillion logos at the beginning of every film Netflix spends a fortune and also has joint production overseas. Netflix UK has some of those big budget movies and tv, Netflix Spain likewise. they're not as successful in recruiting the French, but their Japan arm is tremendous along with Korea. we even see some big budget Indonesian fare if you look for it. i'm not saying most of it isn't crap i'm saying they've expanded their business model and they take on local flavor and offer it to new audiences, which i think is amazing. yeah they have issues, but they're also the pioneer who brought streaming mainstream
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CPC_RedDawn:

I still like Netflix, they for sure have dropped off a little lately but there are still come great shows on there. Currently they have 269,600,000 subscribers. Even if they are on the cheapest payment. 269,600,000 x $6.99 = $1,884,504,000 PER MONTH that is only factoring in the lowest price tier of $6.99 which comes with ads
The price depends on the geographic location. The packages for the UK for instance are all considerably more expensive that the same packages in Turkey.
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CPC_RedDawn:

they make very few big budget movies, normally around 3-4 per year if not less. they mainly focus on lower budget standup comedies with lesser known comedians, TV shows based on already established IP's and once again with lesser known younger actors. They have also jumped around the world a lot of found some new and fresh shows (squid game, etc) which cost them very little. They also make a ton of documentaries which are super cheap to make, these focus on interviews, public footage, and b roll. Sure there are outliers such as "the irishman" and "red notice" each costing between 150-200 mil, their smaller shows cost nowhere near this amount. Everything else is leased for a certain time period and dropped if it doesn't perform.
For me it was a combination of to many same same series, my TV time going to the like of YT shows, and wanting to cut back on needless expenses like Flix, Disney+ and Prime,ni kept Prime.
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If you are going to stop sharing subscriber numbers, it is mostly to obscure the financial statement results. This is because you CAN generate short term profit to make results look better, but is almost always at the expense of long term viability. I watched only 1 episode of 1 show from netflix at a friends house when we had nothing better to do. She picked so for me it was random. It was a show where a girl who cheated banks hotels and restaurants out of money is convinced but a journalist who wants her story to not take a deal for 6 months in jail and fight in court to become famous. Her lawyer thinks the case is unwinnable but his wife convinces him to go for it because it could be good. After I saw that, I was wondering why would I watch any more episodes. If the girl wins the case, its la la land. If she looses the case its kinda deserved for the sheer stupidity of everyone involved. The show made no sense to me.
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tunejunky:

Netflix spends a fortune and also has joint production overseas. Netflix UK has some of those big budget movies and tv, Netflix Spain likewise. they're not as successful in recruiting the French, but their Japan arm is tremendous along with Korea. we even see some big budget Indonesian fare if you look for it. i'm not saying most of it isn't crap i'm saying they've expanded their business model and they take on local flavor and offer it to new audiences, which i think is amazing. yeah they have issues, but they're also the pioneer who brought streaming mainstream
The thing to remember about Netflix is that is A TECH COMPANY first and foremost, which is why the average offices in Hollywood are one-story bungalows, and Netflix has a corporate HQ with lazers in the main reception and a wall of LED tv's running content...they even have leather chairs in reception ffs. This is not how typical Hollywood studios run $hit, they keep it low key and put the money in front of the camera and fight with unions the whole way 🙂 If you ever wondered what it would be like if a Tech Company tried to change hollywood, look no futher than Netflix. Best of luck to them I say, because once in a while we get something like Better Call Saul or Breaking Bad, or Stranger Things. It's easier to experiment with formats and genres if you have got a near bottomless pit of money to throw at something, and just let people be as creative as possible.
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Loobyluggs:

The thing to remember about Netflix is that is A TECH COMPANY first and foremost, which is why the average offices in Hollywood are one-story bungalows, and Netflix has a corporate HQ with lazers in the main reception and a wall of LED tv's running content...they even have leather chairs in reception ffs. This is not how typical Hollywood studios run $hit, they keep it low key and put the money in front of the camera and fight with unions the whole way 🙂 If you ever wondered what it would be like if a Tech Company tried to change hollywood, look no futher than Netflix. Best of luck to them I say, because once in a while we get something like Better Call Saul or Breaking Bad, or Stranger Things. It's easier to experiment with formats and genres if you have got a near bottomless pit of money to throw at something, and just let people be as creative as possible.
BS
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Great business move by netflix but for me I would not even watch even when I got free netflix through cable.