Netflix has closed out its worst year on record, with its stock plummeting a whopping 50 percent and wiping out a staggering $136 billion in market value.
For 2022, Netflix shares plunged 50.6 percent, the most the stock has declined on an annual basis since 2011.
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Breitbart.com reports: Netflix’s decline outpaced the Nasdaq, which was down 33.1 percent for the year.
The left-wing streamer, which continues to have a production deal with Barack and Michelle Obama, is being forced to try new ways to juice revenue. Netflix broke its promise to never have commercials by launching an ad-supported tier in a bid to tap into the advertising market in the face of uncertain subscriber growth.
But the new tier has had an unpromising start. As Breitbart News reported, the plan accounted for just 9 percent of new sign-ups during its first month. In addition, Netflix has had to give back money to advertisers after failing to meet viewership targets.
Netflix is also offering fitness programming for the first time and is reportedly exploring live sports, something company executives once said they had no interest in.
For 2022, Hollywood — including major studios, streamers, cable providers, and other media giants — lost a combined $542 billion in market value.
Sean Adl-Tabatabai
They’re a rip off. I had a month free with them as a trial and scoured their little library and very quickly realized I’ve more movies than them in my shelves. I could start charging people to sign up to watch my movies if I could get a lucrative deal with Google, one that’s totally corrupt of course and “not what it seems” and be making billions each month for a few hundred movies that cost f all. And sure fir bigger tax deductions to launder the gravy I could make propaganda pieces and have people pay to be brainwashed too. They’re too dumb to figure it out and would think they were getting good value.
cancelled my netflix after cuties . disgusting company. Not that I ever used it, but I think i got it free attached to microsoft account, which I also cancelled. My daughter opened a netflix, I told her to cancel it, and use tube tv or something else that she is not to support pedofilia or child trafficking.
I don’t watch movies anyway. ONly on planes when there is no wifi.
Don’t care, never used it and never will.
Netflix, probably owned by the Government, like Google, Facebook, Twitter and the CIA.
Every single time I hear about some great movie, new or old, I check Netflix… and nope, they don’t have it. I only keep it because my wife watches. If just me I’d have cancelled a long time ago.