Netflix subscriptions are up almost 6 million this quarter, suggesting we're all just too exhausted to fight this stuff

Netflix says people just kind of rolled over and accepted the password sharing crackdown::Netflix subscriptions are up almost 6 million this quarter, suggesting we’re all just too exhausted to fight this stuff

  • reddig33@lemmy.worldEnglish
    571·
    1 year ago

    It’s spin. The additional subscriptions came from markets where Netflix is cheap. Not North America.

    “While the company added subscribers, it said average revenue per member fell 3% from a year earlier. That was partly because many of the new sign-ups came in countries where Netflix charges lower prices.”

    https://www.reuters.com/technology/netflix-tops-wall-street-forecasts-with-password-limits-ad-option-2023-07-19/

    • 4815162342@lemmy.mlEnglish
      15·
      1 year ago

      It looks like they also gained over one million subscribers in the quarter in the US/Canada, and average revenue per membership dropped from $16.18 to $16. It was technically a bigger subscriber gain this quarter than they had in 2021 and 2022 combined. (In 2021 they gained a little over one million, but in 2022 they lost nearly one million.)

      Some people paying for the top tier for extra concurrent streams probably dropped to a lower tier. Then some of the people they shared with may have also joined at a lower tier. Both would drop the average.

      • reddig33@lemmy.worldEnglish
        9·
        1 year ago

        Netflix just dumped one of those lower tiers you mentioned (though existing sbscrberd at that tier are currently grandfathered in). The same article I linked to points out that they also aren’t seeing the uptake for their ad supported tier they’d hoped for. And they’re already coaching that next quarters guidance will be down further. I expect more churn as Netflix quality continues to decline and competition and prices continue to increase.

      • Boondock@lemmy.worldEnglish
        0·
        1 year ago

        Just curious, are we sure the numbers reported are “net gain” and not “number of new subscribers”? Distinction being “number of new subscribers” would be all the people that signed up, and “net gain” would be all the people that signed up & subtract those that canceled?

        Earnings reports are always full of word tricks to paint the prettiest picture so I’m just curious if we know the net number?

        For example, all those articles that came out a week after the change went into effect were bullshit bc they didn’t take into account people who canceled and still had days left til their end of month, instead they only captured the 3 days after the policy change and Netflix got all the media to report this awesome stat for them.