According to Variety Magazine Netflix has missed the Q2 predictions by a significant amount. With stocks opening down %10 according to reports but closing at %10.3, only adding 2.7 million new subscriptions world and shares at a 6 month low of $325.21 a share, Reed Hastings stands fast and predicts cdence in the future of the movie streaming gargantuan. So in English, they lost around $16 billion in quarter 2 alone.
Hastings is also optimistic about the future with the content that is returning back to the platform like “Orange is the New Black season 7 & “Mind Hunter” and STRANGER THINGS to name a few. Reed also goes on to say “We’re building amazing capacity for content” “Our products have never been in better shape”. Netflix says it was due to lack of hit movies and the price increase in the services world wide also assisted in the Q2 drop.
Heres’s the thing: Netflix has been around for a while and now they have competition coming in with a bunch of company mergers that have transpired within the last year or 2. Like Disney Plus, [Warner Media] HBO Max and Comcast and a slue of others either jumping on the bandwagon of movie streaming and being that Netflix has been around for so long have they reached their ceiling as a company? Will the mergers apply pressure on Netflix and their future? for more in depth reading go to: https://variety.com/2019/digital/news/netflix-q2-subscriber-miss-analysis-1203271576/