Netflix reports Q2 revenue up 2.7% YoY to $8.2B, vs. $8.3B est., net income up 3.3% YoY to $1.5B, 5.9M net new subs, and a Q3 forecast below est.; NFLX down 8%+

Lisa Richwine / Reuters :

Reuters 2023-07-20 Lisa Richwine

Discussion

@tvgrimreaper @tvgrimreaper on x
Cracking down on freeloaders turns out to be good business.
@karlbode Karl Bode on x
Netflix has to report subscriber totals, but there's nothing requiring they break down in any real detail where those subscribers or revenue jumps are coming from? It genuinely could just be ordinary growth, making headlines like this a bit premature and in service to the company…
@juicethousand @juicethousand on x
A couple months ago I got dogpiled by people (losers) on here who insisted they would somehow massively lose subscribers by ending password sharing even though logistically that didn't make any sense at all. Makes you think (about how smart and correct and handsome I am)
@karlbode Karl Bode on x
BBC and WSJ claim that Netflix's password sharing crackdown showed a surge in subscribers, but the actual earnings report doesn't actually show that [image]
@lucas_shaw Lucas Shaw on x
New: Netflix added 5.9M customers last quarter, more than double Wall Street forecasts. The password crackdown and advertising tier appear to be working.
@reigncoates @reigncoates on x
Looks like stopping account sharing works... for Netflix. Don't think we'll see this type of conversion rate with other platforms. People are hooked on that narcotic and feel like they'll miss out if they let it go. Netflix is the “Kleenex” of streaming.
@joerussotweets Joe Russo on x
The fact that Wall Street looked at Netflix's earnings call today and was like, “You have no new product coming? Oooo, we like that” is why our entire economic system is completely broken.
@sherman4949 Alex Sherman on x
Netflix writes in shareholder letter that ads plan membership has nearly doubled since Q1 but that ad revenue is still so small as to be non material for the company because the subscriber base isn't big enough yet.
@karlbode Karl Bode on x
so what's attributed to the password sharing crackdown could just be ordinary revenue and subscriber growth well in line with what they'd see if they'd done nothing? (either way they should pay their writers)
@sarthakgh Sar Haribhakti on x
It's global presence relative to its largest competitors makes it immune to Hollywood strikes lol
@bluthcapital @bluthcapital on x
If paid sharing was launched in May in 100 countries and rev is up in every region, why is overall revenue flat? Genuine Q $NFLX
@lucas_shaw Lucas Shaw on x
Netflix shares have been flat to down after market. While the user growth is strong, Wall Street expectations had been VERY high. And sales figures are a little light.
@loudmouthjulia Julia Alexander on x
Very curious if Netflix addresses three straight quarters of ARPU drop in its most lucrative territory/wobbly ARPU in other regions. Not too concerning yet because paid additions will go up and international advertising will help. It's also 2x to 3x competitors. I'm still curious
@carnage4life Dare Obasanjo on threads
Netflix earning are out and they blew away expectations on new subscribers. They had 5.9 million versus 1.9 million expected. It turns out cracking down on password sharing after creating a cheaper...
@jessicalessin Jessica Lessin on x
Change takes time, even for the giants. https://www.theinformation.com/ ... @sizpatel
@mtfiii Michael T Ford III on x
Netflix Says Password-Sharing Crackdown Is Working: “Cancel Reaction Was Low” Starting Thursday, the streaming giant says it will tackle account sharing in “almost all” of the remaining countries, which include Indonesia, Croatia, Kenya and India https://www.hollywoodreporter.com…
@tsuvik Vikas SN on x
While people can shell out more money to add a member outside their household to their account in the US & many other markets, Netflix is offering no such option in India Borrowers can only transfer their existing profiles to new & existing accounts https://www.moneycontrol.com/ …
@gabbbarsingh Gabbar on x
Netflix to not allow people to share passwords. Big blow to entrepreneurship in India & failed relationships in which the only thing you shared was a Netflix password.
@akhil_arora Akhil Arora on x
After introducing it elsewhere, #Netflix is cracking down on password sharing in India starting today If your Netflix account is used across more than one household, expect a mail like this to arrive in your inbox soon The days of splitting Netflix bills are numbered [image]
@karissabe Karissa Bell on x
Netflix says it will start cracking down on password sharing in the countries where it hasn't yet done so (including India, Croatia, Indonesia and Kenya) [image]
@punjaikumarsamy @punjaikumarsamy on x
Netflix brings password-sharing crackdown to India and every other market https://techcrunch.com/... But unlike asking you to pay for additional user like in US, it looks like they're giving you the option only to move your profile to your own account.

Chronicles

Netflix reports Q2 revenue up 2.7% YoY to $8.2B, vs. $8.3B est., net income up 3.3% YoY to $1.5B, 5.9M net new subs, and a Q3 forecast below est.; NFLX down 8%+

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