Culture

Netflix Loses Subs, Gains Stacks

Does this mean that they might back off of cracking down on people sharing the same login? Asking for a friend.
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Netflix Loses Subs, Gains Stacks

Streaming service Netflix reported a net loss of subscribers for the second month in a row as over 900,000 subscribers decided to ditch the flix. Surprisingly, this was better news than expected by the companies Chairman and Co-Chief Executive Reed Hastings who said in an earnings call, “We’re talking about losing 1 million instead of losing 2 million, so our excitement is tempered by the less-bad results…but really, we’re set up very well for the next year”

The Plot Twist:

After spending its entire life as an ad-free platform, Netflix is preparing to launch a lower cost, ad-supported tier which will hopefully grow subs while increasing revenue from a portion of the existing 220 million sets of eyeballs currently subscribed. Brands and advertisers are stoked as the platform has already expressed interest in long term ad partnerships.

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