Weird how this so often happens to companies that go full-tilt into woke insanity, right?
After enjoying a long reign as the king of streaming, Netflix faces a tough fight to keep its crown.
It lost almost a million subscribers between April and July as more people decided to quit the service.
The streaming giant has now lost members for two quarters in a row, but the drop was smaller than it feared.
"The drop was smaller than it feared" is not much consolation. You don't want any drop. Even a tiny loss can send investors (and more subscribers) running for the hills, because they see the writing on the wall and they know what's up.
And look, I don't want to be too cynical here, but this just feels really desperate:
Asked what slowed the exodus, the firm's boss Reed Hastings, said: "If there was a single thing, we might say 'Stranger Things.'"
Yeah look, if you're relying on a single, solitary branded feature to save your streaming service...
...then I'd say your fortunes have already declined considerably and there's going to be more trouble up ahead.
Good luck, Netflix—hopefully the coming transition isn't too painful.
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