Is Netflix Over? Oh My Gosh What Are We Going To Do
The Debrief: As the streaming giant's shares drop 15%, we ask, what would a world without Netflix be like?
Now we don't want you to panic. Really, please don't panic. But Netflix might be in a spot of trouble.
The worldwide streaming website reported a 15% drop in shares yesterday after they announced that just 1.7 million people signed up for the service over the 'second quarter' (that's the past three months for anyone not a business bellend).
I mean, that sounds like a lot to me but apparently they were expecting to add 2.5 million users. This time last year they grew by 3.3 million users.
The slow in signing up has been attributed to a rise in sign up fees. It now costs £7.49 for a premium membership, $7.99 in the US. This was rolled out in May. You may or may not have noticed. I certainly didn't because I have a terrible grip on my finances.
Netflix reckons that while the summer will prove difficult for them again (Olympics mate, everyone's going to be watching the Olympics - that's what they've said) things will pick up again in Quarter Four. However, analysts reckon that by the end of the year, Netflix's 83 million users will have to pay $1-$2 extra a month.
However. As you well know, Netflix continues to evolve. This season's Orange Is The New Black is the most talked about season ever. House of Cards also had a resurgence and, Netflix's new original show Stranger Things is already 16 on IMDB's list of top rated TV shows after only premiering on Friday.
We're pretty sure they'll be A-OK and, in regards to price hikes, considering we're going to be living in houseshares for the rest of our lives, shared accounts are definitely the way forward.
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