Netflix for the longest time was the king of all streaming services. Until they went woke. You know that phrase go woke, go broke? Well, they’re learning how true that is amid their crashing stock prices and losing 200,000 subscribers.
In the course of two days, Netflix lost almost 40% of its market cost. It’s hard to believe that the once-mighty streaming giant is struggling in the market. But, is it hard to believe as we watch the once-great company go completely woke?
This huge dip in the market value of the Netflix stocks has made the investors question their buying, selling, and holding of the stocks.
On April 22 the stocks dropped by 35%. On April 23, there was another 5% price drop. The streaming hub has dropped almost two-thirds of its total value this year. The market value has reached below the benchmark of $100 billion.
As the stock prices crash a round of layoffs were started after the most recent earnings call revealed that they lost 200,000 subscribers. Netflix has signaled to investors that it is committed to maintaining operating margins of 19% to 20%. However, insiders say that the plans to shake up the alignment of the marketing department were hatched last year. The goal is to de-layer the executive team and simplify its reporting structure, as well as trim costs.
It remains unclear how many people were laid off Thursday. Netflix has confirmed the layoffs while indicating it doesn’t plan on shutting down the Tudum site.
“Our fan website Tudum is an important priority for the company,” a company spokesperson said in a statement to the site TechCrunch.
So what could be the reason why Netflix is failing so terribly now?
A few things could be the reason along with their repulsive wokeness.
They are cracking down on password sharing which is a turnaround from a few years ago when they encouraged it. The streaming service will charge extra to the main account holders for the users outside their household. This new feature came into practice in Chile and Peru.
They continuously increase their prices.
Shows and movies such as Dear White People, He’s Expecting, Cuties, and The First Temptation of Christ are major turn-offs for a large portion of subscribers.
Again, it’s another company that is catering to the minority and crying boo-hoo when that backfires.
Cuties was probably their most disgusting and controversial movie released depicting extremely young girls dancing provocatively for adults. And the psychotic liberals out there wonder why we want parental rights bills and to stop the over-sexualization of our children.
