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The Town with Matthew Belloni

Netflix Is Back, Baby!

The Town with Matthew Belloni

The Ringer

Society & Culture

4.3847 Ratings

🗓️ 19 October 2022

⏱️ 30 minutes

🧾️ Download transcript

Summary

Matt is joined by LightShed partner Rich Greenfield to discuss Netflix’s Q3 earnings report, in which the company announced it added 2.4 million net subscribers, which is more than was forecasted. With the stock on the rise, Matt and Rich discuss whether this is the beginning of Netflix’s comeback, how subscriber growth vs. revenue is interpreted on Wall Street, and whether the incoming ad tier and password crackdown will help or hurt the streamer. Email us your questions, thoughts, or ideas at [email protected]. Host: Matt Belloni Guest: Rich Greenfield Producer: Craig Horlbeck Theme Song: Devon Renaldo Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hi, I'm Missa Kwonger.

0:01.7

And I'm Ryan Hunt.

0:02.3

And we co-host, Stadio, a football podcast, on the Ring of Podcast Network.

0:06.7

If you like soccer or football, make sure you search for Stadio, a football podcast on Spotify or wherever you get your podcasts.

0:16.5

It is Wednesday, October 19th.

0:19.4

The roller coaster that is Netflix took another turn yesterday.

0:23.1

The company said it added 2.4 million net subscribers during the third quarter,

0:28.8

higher than the one million it had forecast, and a reversal from the past two quarters,

0:34.4

where it actually lost subscribers worldwide.

0:39.2

The stock went nuts. It was up 14% after the bell yesterday and it's now up 30% in the past five days. Remember, this is a company

0:45.8

that lost 60% of its value in the past year. I mean, it was way, way down. Hollywood loves this

0:52.9

turn because every company's stock in the industry is now tied in

0:56.2

some ways to streaming.

0:57.9

Netflix is the leader and the catalyst for huge shifts in the entertainment industry that

1:01.8

we've seen over the past decade.

1:03.9

Now, with these new numbers, it stands at 223 million subscribers worldwide.

1:08.5

But the news wasn't all good.

1:09.9

The gains came mostly in Asia,

1:12.0

which is a still growing market and not in some of its more mature markets like the U.S.

1:17.4

And despite hot shows like Dahmer, the second batch of Stranger Things 4 in movies like

1:22.3

The Greyman and Purple Hearts, Netflix only gained about 100,000 subs in the U.S. and Canada.

1:28.5

So is Netflix back?

...

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