this post was submitted on 19 Jul 2023
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Yet another case study in how to kill a successful business.
Forbes (2020) seems to disagree: "Viewed from the lens of net income, Netflix has been performing well, with its net profits growing 3x from around $0.6 billion in 2017 to $1.9 billion in 2019." If their profitability increased during the pandemic, as seems likely, this feels more like another naked money grab. It's almost guaranteed to drive away users, something that they can ill afford under any circumstances.
Yeah not sure what they're talking about as Netflix was massive long before COVID was a thing. They were the first streaming service and brought rise to all the others.
Yeah, Netflix has been profitable for decades. They killed Blockbuster and other rental stores. One doesn't manage to do that while losing money.
I mean, you can see their financial statements. All that stuff is public info since they are a publicly traded company. This chart shows the net profits since 2010 going from 161m to almost 5B
https://www.macrotrends.net/stocks/charts/NFLX/netflix/net-income