The Squeeze: Is Netflix Going Sour?

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In 2016, if you asked any budding young man what their top 3 favorite sources of online video were, they were bound to mention Netflix in their ranking (the other 2 need not be named). For the majority of the 2010s, Netflix served as the proprietary eponym for watching movies online and/or canoodling with a romantic partner.

However, shareholders beware: Netflix stock took a sharp plummet and lost over 13% of its valuation by the closing bell, opening at 346.95 this morning. For your average Joe, or in our case, canoodler, this is pretty scary. So why is Netflix laying a bigger egg than the Atlanta Falcons in the 4th Quarter? If you dig a little deeper, it’s pretty easy to tell that Netflix is going sour.

My beef with Netflix started in April 2017 when they removed seasons 1-8 of House M.D., which I first thought was some sort of cruel April Fool’s joke. However, after subsequently removing Futurama, Family Guy, and most dastardly of all, FX’s The League, it became clear to me that Netflix is not in the business of making friends. Their most recent atrocity: scraping off Will Ferrell’s Talladega Nights in May of this year.

All told, I cancelled my subscription pretty early on in 2018, freeing me up an extra $8 a month to spend on a Jimmy John’s Turkey Tom with chips, a much more lucrative investment in my happiness. Other people are catching on too, happily dumping their monthly Fast Pass to Will Smith’s Bright, in favor of more quality streaming services. According to Tech Crunch, the ‘Flix lost more than $10 billion in potential market capitalization in the 2nd quarter of this year to people who turned elsewhere: Hulu, Amazon Prime, HBO, etc.

The point is, Netflix wants to replace its business model which drew people in. The allure of bingewatching quality shows such as good ole Dr. House was slowly replaced with their slew of egregious home-produced manure such as Stranger Things and Fuller House. Netflix had the niche, the generic trademark, the ravenous consumer base, and a respectable foothold on the NYSE, all SQUANDERED in order to make Will Smith shoot goblins. HOW DO YOU SCREW THIS UP?

-The Juiceman

Comments

  1. ConnorB2017July 17, 2018 at 12:19 PM

    RIP it’s always sunny in philidalphia

    ReplyDelete
  2. UnknownJuly 18, 2018 at 8:02 PM

    Jake... Netflix started around $170 this year per stock share and I sold it at $215 because I thought Netflix was ending. It's not. There is a reason it grew to a ridiculous $400+ this month. Their content, although altered, has a growing audience. Netflix hasn't even reached overseas yet... at ALL. They are going to rebound, no question. I wish I kept my shares. :(

    ReplyDelete

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