The entertainment industry is in a state of disarray.
Far-left activists are killing storytelling and hurting business.
And Netflix just got some bad news after years of “woke” content.
Netflix has been experiencing upheaval for a host of reasons.
The streaming giant has adopted a business model of taking on a lot of debt in order to produce big content to drive up their subscriber numbers.
But the company’s plan is being put in jeopardy because people are unsubscribing in vast numbers.
Breitbart reported that “the carnage at Netflix keeps getting worse…[T]he far left-wing streamer revealed that it lost close to 1 million subscribers in the second quarter — the largest quarterly loss of customers in the company’s history…Netflix reported 970,000 customers quit the service during the quarter, a continuation of the mass subscriber exodus that began earlier this year. Netflix had forecast a net loss of 2 million subscribers for the second quarter, while analysts were expecting a loss of 1.4 million to 1.8 million.”
Netflix witnessed a stock price uptick because the company “only” lost 970,000 customers instead of the projected 1.4 to 2 million.
Regardless, the company is currently trending in the wrong direction.
Netflix has been looking for ways to combat password-sharing in order to encourage more people to subscribe.
Breitbart added that “the company still faces tremendous challenges ahead in retaining subscribers — its sole revenue stream, for now. Competing streaming services including HBO Max, Disney+, and Amazon Prime Video are aggressively looking to siphon away consumers at a time when households are cutting back on expenses in the face of skyrocketing inflation and a likely recession. Things are so dire for Netflix that the company is working on an ad-supported version of its service that is expected to be cheaper than any of its current subscription offerings — a move that Netflix executives had resisted for years.”
In part, Netflix has suffered from “woke” activists and programming, which came to a head when far-left employees staged a walkout in order to protest Dave Chappelle’s comedy special The Closer.
Tesla owner Elon Musk even called out the company for promoting too much woke garbage.
Musk tweeted, “The woke mind virus is making Netflix unwatchable.”
CEO Ted Sarandos did some damage control by telling his employees to toughen up.
He wrote in a memo, “We have articulated to our employees that there are going to be things you don’t like…There are going to be things that you might feel are harmful. But we are trying to entertain a world with varying tastes and varying sensibilities and various beliefs, and I think this special was consistent with that.”
However, the company flinched when comedian Andrew Schulz had a Netflix special that included an abortion joke that was pro-life in part.
During his routine, Schulz joked, “I agree with you when you say men should have no say in the decision you make with your bodies…I feel that way because at the end of the day, when we all go up to heaven, and God’s like, why were y’all killing babies? We’re going to be like, ‘y’all’?”
Netflix required Schulz remove the joke but he refused, and he bought back the special from the company.
Netflix clearly still has some issues to sort out.