Netflix is in quite the pickle — subscriber growth for the streamer during the peak of the pandemic was soooo freaking strong that, that they continue to struggle to find more users to pay for the service.
Last night’s quarterly numbers again soured mood — Netflix added a total of 1.5 million new subs, well above its own guidance, but below Wall Street’s expectations.
Firstly, after getting 200 million+ paying households to use your product, there’s only so many more left who can afford $10/month. But that’s no excuse useful for the Wall Street greed machine, obviously! 🤷♀️
But revenues grew a healthy 19% to $7.5 billion in the quarter — thanks to those slyly forced price increases that go unnoticed with broad inflation right now, which kinda helped save the day.
What’s ahead — now that western world is vaccinated, big shot Hollywood gods would be comfortable stepping out of their Malibu mansions to get some movies done. That is expected to once again charge up Netflix’s content slate — drawing more eyeballs, more FOMO, which then brings more users.
Until then, investors collectively decided to show some patience, keeping Netflix stock flat — a favor after a true tasteless show.