Netflix has been sliding down the slippery hill of liberalism towards assured destruction for the past while, ever since the business partnered with the Obamas’ production company Higher Ground to showcase media that “encompasses a wide range of fiction and non-fiction signature productions for all audiences,” according to the Obamas, whose first project was an anti-Trump documentary (so, totally “not” propaganda…)
Back when Georgia passed the anti-abortion heartbeat bill, Netflix threatened to boycott the state, and they’ve also been known to feature very left-wing biased films, like Knock Down the House, a documentary that followed the campaigns of AOC and other Democrat congresswomen.
But, it appears that the American people are getting tired of companies like Netflix going off the deep end as a medium for left wing influence.
Now, it seems like Netflix is crashing and burning, hard and fast!
The entertainment service is suffering huge losses both in revenue and volume of subscriptions. For the first time in a decade, Netflix has actually lost over 100K subscribers, and their stock has dropped 10%, costing them $17 billion in just one day!
Trump boomerang effect?
Take a look at news of the losses that the anti-Trump pro-Obama entertainment service is suffering on Twitter:
Here's some specifics on the drop in Netflix stock from Market Watch:
Netflix Inc. shares plunged more than 10% in the extended session Wednesday after the video-streaming giant badly missed projections for new paid subscriptions.
Netflix NFLX, -0.04% reported the addition of just 2.7 million paid subscribers globally in the second quarter, far short of what Wall Street and the company expected. Analysts were looking for global paid streaming subscriber additions of 5.3 million, according to FactSet, on domestic additions of 350,000 and 4.8 million internationally. Netflix had projected 5 million new customers.
In a letter to shareholders, Netflix executives noted that price increases began rolling out earlier this year, and disappointing subscriber additions were more targeted in regions that were experiencing the larger bills. They pointed more at a lack of fresh content in the quarter, though.
“We don’t believe competition was a factor since there wasn’t a material change in the competitive landscape during Q2, and competitive intensity and our penetration is varied across regions (while our over-forecast was in every region),” they wrote. “Rather, we think Q2’s content slate drove less growth in paid net adds than we anticipated.”
During an earnings video-conference call late Wednesday, Netflix CEO Reed Hastings said no single factor led to the subscription shortfall. A pricing increase, the quarterly content slate and seasonality were all factors, he and Chief Financial Officer Spencer Neumann acknowledged.
The subscription miss was Netflix’s largest since the second quarter of 2016. It lost 126,000 domestic paid subscribers vs. an expected gain of about 310,000.
Breitbart has more details on the huge loss of subscriptions that Netflix is suffering:
Although overall paid subscribers rose by 2.7 million, this was well below Netflix’s target of adding five million subscribers worldwide. The platform also lost 130,000 subscribers across the United States, marking the first decline since 2011 — sending the company’s stock tumbling by over 12 percent in after-hours trading.
“Our missed forecast was across all regions, but slightly more so in regions with price increases,” Netflix CEO Reed Hastings wrote in a letter to shareholders. “We don’t believe competition was a factor since there wasn’t a material change in the competitive landscape during Q2, and competitive intensity and our penetration is varied across regions.”
Hastings also indicated that the company would start shifting away from providing classic shows Friends and The Office and produce even more original content.
“Much of our domestic, and eventually global, Disney catalog, as well as Friends, The Office, and some other licensed content will wind down over the coming years, freeing up budget for more original content,” Hastings wrote. “From what we’ve seen in the past when we drop strong catalog content (Starz and Epix with Sony, Disney, and Paramount films, or second run series from Fox, for example) our members shift over to enjoying our other great content.”
Despite the enormous success of Netflix originals such as Stranger Things and Orange is the New Black, the company has also seen its content and leadership become increasingly politicized over recent years.
Having once seemingly focused on its broad appeal, the streaming service now appears to be producing increasingly progressive content, whether it be through “woke” talk shows such as The Break with Michelle Wolf or documentaries like Knock Down the House that favorably followed the campaigns of four progressive female Democrats in the 2018 midterm election cycle.
Last year, the company also saw its approval rating plummet after they announced a “multi-year agreement” with Barack and Michelle Obama to produce films and series for the platform. Netflix also appointed Barack Obama’s former National Security Adviser Susan Rice to the company’s board.
For some background on the Obamas' involvement in producing films for Netflix, CCN gave these details on the type of content that their company Higher Ground Productions is making:
Barack and Michelle Obama just announced the lineup of projects they’ll be releasing on Netflix – with a documentary taking aim at Donald Trump’s presidency listed among them.
The documentary will be an adaptation of Michael Lewis’ book, The Fifth Risk: Undoing Democracy – an examination of Trump’s failure to effectively staff three major government departments when he was elected.
In what may be a global first, we have the former president of the United States producing a movie about the current President of the United States… on Netflix.
Barack and Michelle Obama signed a development deal with Netflix in 2018. One year on and we finally get a look at what the would-be producers have in the pipeline. Among the projects are a feature film on slavery reformer Frederick Douglass; a class-struggle sitcom set in post-World War 2 New York; and a show for preschoolers titled Listen to Your Vegetables & Eat Your Parents.
A former politician getting into the movie business should be enough to ring anyone’s alarm bells. We’ve seen examples of this before with Al Gore’s eco-horror movie, An Inconvenient Truth. Usually political rhetoric takes pride of place over anything more artistic in such ventures.
Yet former First Lady Michelle Obama said Higher Ground Productions’ line-up of projects on Netflix contained something for everyone:
“We love this slate because it spans so many different interests and experiences, yet it’s all woven together with stories that are relevant to our daily lives. We think there’s something here for everyone — moms and dads, curious kids, and anyone simply looking for an engaging, uplifting watch at the end of a busy day.”
What do you think?
Is the rise in leftist propaganda on Netflix contributing to the decrease in revenue and subscribers to the service?
Are you going to keep your Netflix subscription?