{"id":599717,"date":"2021-07-21T22:06:29","date_gmt":"2021-07-22T02:06:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=599717"},"modified":"2021-07-21T22:06:35","modified_gmt":"2021-07-22T02:06:35","slug":"netflix-stock-tanks-as-subscriber-numbers-drop","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/netflix-stock-tanks-as-subscriber-numbers-drop\/","title":{"rendered":"Netflix Stock Tanks As Subscriber Numbers Drop"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnetflix-stock-tanks-as-subscriber-numbers-drop%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=599717&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/GettyImages-1316489105-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Netflix is down nearly half a million subscribers in North America this quarter, leading to a stock drop of nearly <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-07-20\/netflix-falls-after-forecasting-another-quarter-of-subpar-growth\">5%<\/a> on Wednesday \u2014 the company\u2019s biggest slide since its last poor earnings report in April.<\/p>\n<p>This marks the first time the platform has lost domestic customers in two years.<\/p>\n<p><a href=\"https:\/\/www.ft.com\/content\/97ccbdab-6547-4d1b-bb3f-f251931901c2\">The Financial Times<\/a>, which ran the headline, \u201cNetflix bleeds subscribers,\u201d says the streaming platform\u2019s failure to meet analyst projections has investors jumpy.<\/p>\n<p>\u201cThe California-based company predicted it would add 3.5 [million] subscribers in the third quarter, disappointing investors who were looking for a stronger rebound in the second half of the year,\u201d the outlet reported, adding, \u201cAnalysts had forecast that Netflix would add 5.9 [million]&nbsp;subscribers during the third quarter.\u201d<\/p>\n<p>In a shareholder <a href=\"https:\/\/s22.q4cdn.com\/959853165\/files\/doc_financials\/2021\/q2\/FINAL-Q2-21-Shareholder-Letter.pdf\">letter<\/a>, Netflix executives blamed their failure to meet projections this quarter on \u201cunusual choppiness in our growth\u201d and cited the pandemic, something CFO Spencer Neumann echoed on an <a href=\"https:\/\/s22.q4cdn.com\/959853165\/files\/doc_financials\/2021\/q2\/Netflix,-Inc.,-Q2-2021-Pre-Recorded-Earnings-Call,-Jul-20,-2021.pdf\">earnings call<\/a>. But CEO Reed Hastings had to assuage similar worries after disappointing numbers the previous quarter in April. At that time, too, the company claimed COVID was hurting business, with Hastings <a href=\"https:\/\/www.youtube.com\/watch?v=n9NojXGRTFU\">saying<\/a>, \u201cWe had those 10 years that were smooth as silk, and we are just a little bit wobbly right now.\u201d<\/p>\n<p>Some people aren\u2019t buying the coronavirus line, however, and blame other factors for Netflix\u2019s poor performance.<\/p>\n<p>Conservative radio host and commentator Todd Starnes believes pushing a woke agenda and filling original series and movies with hard-R-rated material could also be driving viewers away.<\/p>\n<p>\u201cThey\u2019ve gone woke,\u201d said Starnes in an <a href=\"https:\/\/www.toddstarnes.com\/media\/netflix-aint-mayberry-and-thats-why-nearly-500000-americans-unsubscribed\/\">op-ed<\/a>, pointing out the deal the company struck with Barack and Michelle Obama to create politically themed films and series, which he classified as \u201cpropaganda disguised as entertainment.\u201d<\/p>\n<p>The former Fox News host also referenced the <a href=\"https:\/\/www.dailywire.com\/news\/netflix-subscription-cancellations-soar-after-cuties-controversy\">scandal<\/a> over the movie \u201cCuties,\u201d which showed preteen girls performing sexually suggestive dance moves, that hit the platform late in 2020. Starnes argued it highlighted for families that Netflix isn\u2019t producing content they want to welcome into their homes.<\/p>\n<p>\u201c[Netflix] is basically becoming a soft porn channel,\u201d he said, later adding, \u201cFamilies are just not going to spend money on that sort of garbage. They long for the days of Everybody Loves Raymond and the Andy Griffith Show.\u201d<\/p>\n<p>In the midst of Wall Street worries, the streaming giant is looking to gaming as a future saving grace.<\/p>\n<p>The company confirmed this week that it plans to move into video games during its earnings call, with Chief Operating Officer Greg Peters saying, \u201cThis is a core part of our subscription offering.\u201d<\/p>\n<p>Some tech insiders, like the analysts at&nbsp;<a href=\"https:\/\/www.vox.com\/recode\/2021\/7\/20\/22586084\/netflix-gaming-strategy-earnings-explained\">Recode<\/a>, are skeptical though. \u201cFiguring out how to make games is a very different skill set than making TV shows and movies \u2014 which is why most big entertainment companies have failed whenever they\u2019ve tried to get into games themselves,\u201d the outlet reported. \u201cBig tech companies like Amazon, Apple, and Google have all swung and missed to varying degrees, as well. So it\u2019s entirely possible that Netflix\u2019s move into games could flop, too.\u201d<\/p>\n<p><i>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i>member<\/i><\/a><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Netflix is down nearly half a million subscribers in North America this quarter, leading to a stock drop of nearly 5% on Wednesday \u2014 the company\u2019s biggest slide since its &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1893748,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-599717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/599717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=599717"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/599717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1893748"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=599717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=599717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=599717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}