[noelrock]

On the one hand: Has badly lost its way on content. Can understand why other providers are stripping out legacy content (e.g. old BBC shows), but equally Netflix's own content has been very much expensive quantity over quality.

They're at risk of blowing their relatively dominant position.

On the other: the headline figures aren't terrible. Their boycott of Russia saw them lose 700k subscribers, while the net decrease is actually 200k. Their projection for Q2 is interesting, and clearly they have some basis for projecting a steeper decline.

Ultimately Netflix have moved from what looked like a very strong incumbent position into a keenly fought battle where content will decide which 2/3 streaming services people subscribe to. For me this year it's probably the third most watched after Disney+ and Apple TV... so is at risk of the chop if it doesn't come up with the goods soon. Can't imagine I'm alone.

[spacebanana7]

Interesting point about the Russia loss. I doubt their stock would be down near as much if they'd had a slowdown to 500k net increase, as would otherwise be the case.

[noelrock]

Completely agree - if the projection from Q2 wasn't also so negative, I would say the market has overreacted a little bit.