One Year After the Crash: Is the New Netflix Working?

The Town with Matthew Belloni

The Ringer

Society & Culture

4.3 • 1.1K Ratings

🗓️ 20 April 2023

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Matt is joined by LightShed Partners media analyst Rich Greenfield to discuss the state of Netflix one year after the Great Netflix Correction plummeted the streaming giant's stock and thrust the streaming world into chaos. They break down the changes Netflix has undergone since its stock crash, including clamping down on password sharing, introducing an advertising tier, reducing its yearly output of movies, and whether any of these changes will be a difference-maker for Netflix. Matt finishes the show by making a prediction for the opening weekend of ‘Evil Dead Rise’. For a 20 percent discount on Matt’s Hollywood insider newsletter, ‘What I’m Hearing ...,’ click this link: puck.news/thetown Email us your thoughts! thetown@spotify.com Host: Matt Belloni Guest: Rich Greenfield Producer: Craig Horlbeck and Jessie Lopez Theme Song: Devon Renaldo Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Rough year for your favorite NFL team.
0:02.7	Join me, Danny Hyfitz, along with Danny Kelly, Ben Sulek, and Craig Krollabak on the Ringer NFL Draft show, where we talk about all things NFL draft.
0:08.5	And more importantly, how to fix your mediocre team.
0:10.9	Check out the Ringer NFL Draft show every Tuesday and Thursday.
0:20.0	You know where that is.
0:21.6	An ice cold beer.
0:23.6	What's different?
0:25.6	It's Budweiser, a perfect beer for party season.
0:30.6	Best enjoyed with your best buds.
0:36.6	Cheers to that. Budweiser. Best enjoyed with your best butts.
0:39.2	Cheers to that.
0:42.2	Budweiser, like no other.
0:43.7	Please drink responsibly.
0:45.7	For the facts, visit drinkaware.com.uker.uker. UK.
0:49.1	It is Thursday, April 20th.
0:51.7	A year ago today, the media analyst Richard Greenfield came on this show for an emergency pod to discuss something pretty shocking.
0:58.9	Netflix, long the darling of the streaming video business and the stock market, had lost subscribers in the first quarter of 2022, the first time in a decade that that had happened.
1:08.9	Stock tanked, a company that traded at $700 a share was
1:12.5	down to $220, and its market cap dipped below $100 billion. Total disaster. What came to be known,
1:18.7	at least by me, as the great Netflix correction brought the rest of Hollywood down into the toilet with it,
1:23.8	with shares of Disney, Paramount, and the other big media companies dropping, investors wondering
1:28.5	whether anyone would ever make real money in streaming. Netflix quickly hit the panic button,
	...

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