Netflix’s Crash and the Company's Future in Streaming

The Town with Matthew Belloni

The Ringer

Society & Culture

4.3 • 847 Ratings

🗓️ 20 April 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Matt is joined by media analyst Rich Greenfield to discuss Netflix’s subscriber loss and subsequent stock plunge, the company's inability to make long-lasting hits, its claim that it will crack down on password sharing, its potential addition of a cheaper, ad-supported service, and whether its run of streaming dominance is finally over. 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 Derek Thompson.
0:03.6	Does the news feel overwhelming to you these days?
0:06.0	There's a pandemic, then there's inflation, and also this crypto thing.
0:10.4	It's way too much to keep track of.
0:12.4	That's why my podcast, Plain English, breaks down the news twice a week.
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0:23.5	Listen to plain English free on Spotify.
0:29.5	Adobe Express is the quick and easy create anything out.
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0:36.4	From videos and social posts to flyers and logos, search for Adobe Express to find out more and use it for free.
0:45.3	All right, it is Wednesday, April 20th, 420.
0:49.2	Happy 420 to Elon Musk and Seth Rogan and all who celebrate.
0:54.3	Today we are talking Netflix.
0:56.1	This is somewhat of an emergency pod because Netflix, if you haven't seen, is absolutely
1:01.5	crashing.
1:03.7	The stock is in the toilet.
1:05.6	This is a company with the stock price that was at about $700 a share less than a year
1:10.4	ago.
1:12.4	Today, it's down to about $220, $225. It used to be worth almost $300 billion. It's less than $100 billion right now.
1:20.9	And it's all because yesterday Netflix revealed its first quarter earnings and the subscribers
1:27.3	around the world actually dropped for the first time in over a decade.
1:32.0	They lost about 200,000 subscribers and they projected that they are going to lose about 2 million more next quarter, which is just a disaster for a company that has written this extreme growth narrative for about a decade now.
	...

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