Netflix isn't blaming the pandemic recovery for its lost subscribers – Yahoo Entertainment
Netflix may have benefitted from the COVID-19 pandemic, but it's not blaming its latest troubles on people leaving their homes. The company has revealed that it lost about 200,000 subscribers in the first quarter of 2022, a sharp contrast from the millions of additions per quarter over the past year. However, the streaming giant said that the pandemic only "obscured the picture" — there were multiple problems hiding under the surface.
The company pointed to stiffer competition from online services like Disney+ and Prime Video. While Netflix has still been gaining share at a modest rate, it wants to grow "faster." The firm also blamed limited room to expand in many countries due to both technology factors outside of its control (such as smart TV adoption and data prices) and the abundance of account sharing. There are more than 222 million paying households, Netflix said, but another 100 million-plus sharing those accounts.
The decision to halt service in Russia also helped swing Netflix from growth to a loss. It would have added 500,000 customers, but ultimately lost 700,000 after dropping its Russian base in response to the invasion of Ukraine. Growth was still "soft" across all regions, however.
Netflix outlined multiple efforts to turn things around. It hoped to improve the quality of its shows, profit from sharing (such as an option for paid sharing in Latin America) and produce more content to suit audiences outside the US, where growth was stronger.
These results might not pay off in the short term. Netflix still expects either mild growth (no more than 1.5 million new members) or a loss (up to 2 million) in the ongoing second quarter. With that said, Netflix is clearly under no illusion that mobile games and minor feature additions will be enough to spark renewed interest by themselves — its fundamentals need to improve if it's going to fend off rivals.
By tweeting disparaging remarks about two Twitter lawyers, Elon Musk already broke his merger agreement
Many viewers were shocked to hear how lucrative the job can be.
Elon Musk's $44 billion leveraged buyout of Twitter is continuing to elicit strong emotions across the board. Musk, the world's wealthiest man, finally succeeded in his bid for the social media platform on April 25. Twitter's board had been loudly resisting his overtures for week's, and the company even adopted a poison pill strategy to prevent any possibility of a hostile takeover.
As owner of the company, Musk will have the power to transform the board and fire key individuals who don’t align with his vision for the platform.
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Gov. Greg Abbott also supports the idea of Twitter relocating to Texas.
As the Tesla boss looks set to acquire the company, Twitter employees show mixed reactions.
In the wake of Twitter’s announcement that it has accepted Elon Musk’s buyout bid, many across the media spectrum are offering their opinions about the implications for the social media networking site. Sunny Hostin, co-host of ABC's “The View,” recently jumped in with her take on the eclectic Tesla CEO’s takeover of the platform. “Twitter is not the real world," Hostin said.
Devin Nunes, Trump Media & Technology Group CEO urged followers to use Truth Social, an alternative tech media platform created by the group, as he appeared on Fox Business Monday morning. Truth Social, Twitter’s rival new app claims to give its users freedom of speech as they will not be suspended or banned over the content of their posts. Truth Social moved over to the Rumble Cloud system on Saturday to restore free speech on social media platforms.
ApeCoin continues to outperform the wider cryptocurrency market, is eyeing a break above $20.00 ahead of Yuga Labs’ metaverse release.
Twitter employees are giving virtually all of their political donations to Democrats for the 2020 cycle.
Before Elon Musk takeover, GOP lawmakers like Marjorie Taylor Greene and Kevin McCarthy are gaining Twitter followers, Nancy Pelosi is losing them.
Jameela Jamil announced she will no longer be using Twitter since it was purchased by Tesla founder Elon Musk. Read why here.
If you've been seeing "/SRS" on your feeds lately, there's a good reason for it.
Google's earnings shortfall is an indication of trouble across the online-advertising industry, and should scare investors in Facebook and other competitors.
A new Gilded Age of media barons? Charles Sykes/Invision/APDuring the Gilded Age of the late 19th century, and the early decades of the 20th century, U.S. captains of industry such as William Randolph Hearst and Jay Gould used their massive wealth to dominate facets of the economy, including the news media. They were, in many ways, prototype oligarchs – by the dictionary definition, “very rich business leaders with a great deal of political influence.” Some have argued that the U.S. is in the mi
A Rhode Island teacher tweeted that he explained to all five of his classes that Elon Musk’s purchase of Twitter is the “worse thing that could have happened.”
The App Store chart, which tracks new downloads, listed Truth Social in first place, and Twitter — Musk's soon-to-be-acquired company — in second.
STORY: The second richest man in the world used Twitter to shine a light on Elon Musk's $44 billion deal to buy social media platform.Just hours after Twitter agreed to be bought by Musk, who supplanted Bezos as the world's richest man last year, the Amazon founder tweeted: "Did the Chinese government just gain a bit of leverage over the town square?"While he followed that up with "probably not," the post brought fresh scrutiny to the deal in the very "town square" he referenced.Since the beginning of Musk's pursuit of Twitter, which he intends to take private and initiate changes at the company, some have asked what the deal will mean for Twitter's content policy in China, where the social media platform is blocked.Musk has key business interests in China, as Tesla relies heavily on the country for production and vehicle sales. A Tesla spokesperson said the company has no comment and Twitter did not immediately reply to a Reuters' request for comment.But China's foreign ministry weighed in, saying on Tuesday that there was no basis for speculation that Beijing could try to use leverage over Tesla in order to influence content on Twitter.Some Twitter users have threatened to leave the micro-blogging site, fearing Musk – a self-described free speech absolutist – could bring about less content moderation and the reinstatement of banned individuals.But the most well-known of the banned Twitter users – former U.S. President Donald Trump – said he would not be rejoining the platform even if his account is reinstated.
Elon Musk bought Twitter for $44 billion Monday. Tucker Carlson, Jameela Jamil, Azealia Banks and more share what's in the future for them on the app.