The Week Netflix Put the Smackdown on Its Rivals Vulture

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News Source : Vulture

News Summary

  • It now has over 260 million subscribers, having added nearly 30 million paying customers in the last year.➽ A big chunk of Netflix’s growth last year was the result of its decision to start cracking down on password sharing among its customers, a practice it once openly encouraged..
  • It’s doubtful many wrestling fans are going to sign up for a month or two of Netflix and binge a year’s worth of matches.➽ Netflix also got good news on the awards front: Its 2023 movie slate snagged 18 nominations, including a best picture nod for Maestro..
  • And this week, two years after that very dark January day in 2022, they offered the clearest proof yet that their strategy was working:➽ On Tuesday, Netflix said it added over 13 million subscribers in the last three months of 2023, marking its strongest fourth quarter ever..
  • They simply tried to stay true to Netflix’s core mission (serving up more entertainment content more effectively than any other streamer) and hoped it would be enough to start adding subscribers again and start making more money..
  • This week also saw an announcement that Netflix film chief Scott Stuber, who helped build the streamer into a legit studio, would be departing later this year..
  • And if growth remains sluggish, or even somehow reverses, execs have plenty of room to adjust.” Things obviously did get worse for Netflix: Three months later, it actually started losing subscribers and January’s hand-wringing suddenly seemed mild by comparison..
Two years ago this month, Netflix warned investors that it saw growth slowing down during the first half of 2022 and the result was nothing short of a Wall Street freakout. The streamers share price [+9377 chars]

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