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    CCI Global to occupy largest contact centre in Kenya at Tatu City

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    Absa, KMA ink Deal to Advance Unsecured Loans to Businesses

    Absa, KMA ink Deal to Advance Unsecured Loans to Businesses

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Kenyan Business Feed
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    UAE President Sheikh Khalifa Bin Zayed Dies at 73

    UAE President Sheikh Khalifa Bin Zayed Dies at 73

    11,OOO Vehicles Already Registered to Use Express Way

    11,OOO Vehicles Already Registered to Use Express Way

    New business model program to firm up corporate-startup ties launched

    New business model program to firm up corporate-startup ties launched

    Crypto firms approach KenGen seeking mining access

    Crypto firms approach KenGen seeking mining access

    Children Without IDs to Be Registered for M-Pesa

    Children Without IDs to Be Registered for M-Pesa

    Elon Musk sued by Twitter shareholder

    US Govt opens investigations into Elon Musk’s business dealings

    Former Cabinet Minister’s widow fights her kids over control of Sh250 million estate

    Court stops IEBC from implementing two-thirds gender rule

    Kenya – United Arab Emirates strengthen ties

    Emirates launches new hospitality strategy 

    Emirates launches new hospitality strategy 

  • Markets
    CMA Issues Licenses Three Fund Managers

    CMA Issues Licenses Three Fund Managers

    CCI Global to occupy largest contact centre in Kenya at Tatu City

    CCI Global to occupy largest contact centre in Kenya at Tatu City

    CMA licenses two Online Forex Trading Intermediaries

    CMA licenses two Online Forex Trading Intermediaries

    CMA licenses Embu Coffee Farmers Marketing Agency

    CMA licenses Embu Coffee Farmers Marketing Agency

    BluePeak announces Ksh1.5 B Investment in Africure

    BluePeak announces Ksh1.5 B Investment in Africure

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    Falling share prices raise banks dividend returns

    Family Bank Okays Ksh1.1 Billion Dividend Payout

    Family Bank Okays Ksh1.1 Billion Dividend Payout

    African Venture Capital Sector Touted to Shape Global Trends

    African Venture Capital Sector Touted to Shape Global Trends

    Safaricom poaches Citi Bank MD to head its strategy unit

    Safaricom poaches Citi Bank MD to head its strategy unit

  • Real Estate
    Five Reasons Why Real Estate Increases in Value

    Five Reasons Why Real Estate Increases in Value

    Optiven Foundation Launches TVET Sponsorship Program

    Optiven Foundation Launches TVET Sponsorship Program

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    How Optiven is making it Easy for Kenyans to Own Transformed Land for their Dream Homes

    International Firm to help Kenyans Buy Property in The UK

    International Firm to help Kenyans Buy Property in The UK

    Centum’s Tribus To Invest Sh137 Million On 10 Youth Employment Centres

    We’re sorry: Weekly Citizen humbles before Centum CEO

    How to Build a 3 Bedroom House With Less Than Ksh1 Million

    How to Build a 3 Bedroom House With Less Than Ksh1 Million

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    UK Property firm targets Kenyans wanting to invest in the UK

    Property Firm Eyeing Increased Sales With Easter Holiday Offer

    Property Firm Eyeing Increased Sales With Easter Holiday Offer

    Centum To Set Up 270 Residential Units At Two Rivers Development Complex

    Centum To Set Up 270 Residential Units At Two Rivers Development Complex

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    Safaricom Partners with vivo Smartphone to List New 4G Enabled Devices in the Kenyan Market 

    EA Sports End 29 Years of Video Game Partnership With FIFA

    EA Sports End 29 Years of Video Game Partnership With FIFA

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    Galaxy S23: Samsung Developing 200- Megapixel Phone Camera

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    Meet The Richest Man Who Can Fund Kenya’s Budget Alone for 10years

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    EA Sports End 29 Years of Video Game Partnership With FIFA

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    Central African Republic Adopts Bitcoin as an Official Currency

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    Netflix Stock Collapses After Losing 200,000 Subscribers

    Putin spokesman refuses to rule out use of nuclear weapons if Russia faced an ‘existential threat’

    Putin spokesman refuses to rule out use of nuclear weapons if Russia faced an ‘existential threat’

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    How new regulations are shaking up the world’s fastest sport

    President Uhuru Urges International Community to Lift Sanctions on Zimbabwe

    President Uhuru Urges International Community to Lift Sanctions on Zimbabwe

    Blow to US as Japan rejects nuclear weapons

    Copyright Bill: Why You May not Be Able to Watch EPL, UEFA in Kenya

    Copyright Bill: Why You May not Be Able to Watch EPL, UEFA in Kenya

  • KBF
    • All
    • Agribusiness
    • Banking
    • Insurance
    • Manufacturing
    • Opinion
    Absa, KMA ink Deal to Advance Unsecured Loans to Businesses

    Absa, KMA ink Deal to Advance Unsecured Loans to Businesses

    Broke Kenya seeks to buy UAE oil on credit

    Despair as the price of petrol, kerosene increase

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    Balala Ministry to build toilets at the peak of Mt. Kenya

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    LAW: Sacco members will soon use household goods as security for loans

    10 SACCOs in Kenya you should consider investing in for high returns

    Treasury: No more funding, staffing Kibaki office

    Treasury: No more funding, staffing Kibaki office

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    Government’s Energy Efficiency Plan Validated

    Housing Finance Swings Back to Profitability

    Housing Finance Swings Back to Profitability

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Netflix Stock Collapses After Losing 200,000 Subscribers

by Neymar
April 20, 2022
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Netflix’s bad 2022 just got much worse.

After shares tanked earlier this year because of concerns over its subscriber growth, the streaming leader said that it lost subscribers when it reported first quarter earnings on Tuesday.

Netflix now has 221.6 million subscribers globally. It shed 200,000 subscribers in the first quarter of 2022, the company reported on Tuesday, adding that it expects to lose another two million in the second quarter. The service was expected to add 2.5 million subscribers in the first three months of the year.

The report sent the stock down as much as 25% in after-hours trading.

Netflix’s first quarter profit was $1.6 billion, down from $1.7 billion in the year-earlier quarter. Revenue jumped nearly 10%, to $7.9 billion.

It cannot be overstated just how bad of a report this is for the king of streaming. The company’s stock has fallen more than 40% year to date, and coming into the earnings there was a lot of concern from investors regarding its growth. The company hasn’t lost subscribers in more than a decade.What happened?

In its letter to investors, the company said that since it launched streaming in 2007, the company has “operated under the firm belief that internet-delivered, on demand entertainment will supplant linear TV,” But, it added, in the near term “we’re not growing revenue as fast as we’d like.”

Netflix said that the pandemic “clouded the picture by significantly increasing our growth in 2020, leading us to believe that most of our slowing growth in 2021 was due to the Covid pull forward.”

But there are many different factors behind its subscriber stagnation, including competition from traditional media companies that have gotten into the streaming market in recent years, as well as widespread password sharing.

“In addition to our 222 million paying households, we estimate that Netflix is being shared with over 100 million additional households, including over 30 million in the [United States/Canada] region,” the company said.

The company also blamed “macro factors” that are affecting many companies right now, such as “sluggish economic growth, increasing inflation, geopolitical events such as Russia’s invasion of Ukraine, and some continued disruption from Covid are likely having an impact as well.”

Netflix said that pulling out of Russia cost the company 700,000 subscribers.

The company’s bad report is likely to roil the streaming market given that so many other firms have changed their business strategies to compete with Netflix.

Disney, for example — one of Netflix’s biggest rivals — was down roughly 5% Tuesday evening.What now?

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Netflix told investors Tuesday that it plans to turn the tide by doing what it’s always done: Improving the service.

“Our plan is to reaccelerate our viewing and revenue growth by continuing to improve all aspects of Netflix — in particular the quality of our programming and recommendations, which is what our members value most,” the company said.

The company added that it’s “doubling down on story development and creative excellence” and that it launched the “double thumbs up” tool that will allow members to “better express what they truly love versus simply like.”

Netflix also said it will focus more on “how best to monetize sharing” in terms of passwords.

“Sharing likely helped fuel our growth by getting more people using and enjoying Netflix. And we’ve always tried to make sharing within a member’s household easy, with features like profiles and multiple streams,” the company said. “While these have been very popular, they’ve created confusion about when and how Netflix can be shared with other households.”

The company said last month that over the last year, it’s been working on ways to “enable members who share outside their household to do so easily and securely, while also paying a bit more.”

“While we won’t be able to monetize all of it right now, we believe it’s a large short- to mid-term opportunity,” it said.

Another place that could help increase revenue and attract more subscribers for the service is advertising.

Netflix CEO Reed Hastings has always been allergic to the idea of having commercials on the platform, but on Tuesday’s call with analysts he mentioned that it could be a possibility in the future.

“Those who have followed Netflix know that I’ve been against the complexity of advertising and a big fan of the simplicity of subscription. But as much as I’m a fan of that, I’m a bigger fan of consumer choice,” Hastings said on the post-earnings call. “And allowing consumers who like to have a lower price, and are advertising tolerant, get what they want makes a lot of sense.”

He added that the company is looking at that now and trying to figure it out “over the next year or two.”

“Think of us quite open to offering even lower prices with advertising,” Hastings said.

Despite the dramatic growth slowdown that puts its strategy into question, Netflix remained defiant.

“This focus on continuous improvement has served us well over the past 25 years,” Netflix said. “It’s why we are now the largest subscription streaming service in the world on all key metrics: paid memberships, engagement, revenue and profit.


Kenyan Business Feed is the top Kenyan Business Blog. We share news from Kenya and across the region. To contact us with any alert, please email us to [email protected]

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