Continue your boycott! Netflix loses subscribers; shares drop

Christians and Conservatives’ boycott of Netflix is having an effect!

Kaylee Greenlee reports for The Daily Signal that on Wednesday, July 17, 2019, Netflix’s quarterly report shows a loss of 126,000 domestic paid subscribers — its first in eight years — compared with analysts’ expectations for a 352,000 gain. Netflix also missed its own forecast for global subscriber growth by 2.3 million.

Before the release of the shareholders report, Netflix’s shares were up more than 35%. Now, the stock will open at its lowest price since January.

Not coincidentally, the dip in subscriptions came in the same quarter as Netflix’s decision to oppose Georgia’s pro-life heartbeat bill, which was signed into law by Gov. Brian Kemp (R), on May 7. Set to go into effect on Jan. 1, the law will impose restrictions on abortion after a fetal heartbeat can be detected.

Georgia Governor Brian Kemp

On the day of the bill’s passage, Gov. Kemp said he is standing by his promise to implement the “toughest abortion bill in the country” and that “Georgia is a state that values life. We stand up for those who are unable to speak for themselves.”

Following the bill’s passage, Netflix’s chief content officer Ted Sarandos told Variety that Netflix will work with the ACLU and others to “fight it in court,” and that “Should it ever come into effect, we’d rethink our entire investment in Georgia.”

See “Netflix joins fight against Georgia’s abortion law

At the time, Lila Rose, 30, president and founder of the pro-life nonprofit Live Action, tweeted her opposition to Sarandos’ comments:

“Half the country is pro-life. The vast majority want abortion limits. Netflix’s pro-abortion views are regressive and don’t belong in a civilized, loving society. Wake up, Netflix. Many of your employees, customers and America are increasingly pro-life.”

Commenting on the drop in Netflix’s domestic subscription, Rose said: “When Georgia passed the Heartbeat bill, Netflix threatened to stop doing business in the pro-life state. Thousands of pro-life customers expressed their outrage.”

According to MarketWatch, Netflix CEO Reed Hastings said no single factor led to the subscription shortfall, but that a pricing increase, the quarterly content slate and seasonality were all factors. Eric Haggstrom, eMarketer forecasting analyst, said Netflix was hurt by the defection of lower-priced subscribers who may be looking to jump to a wave of competing services over the next 6 to 18 months.

Netflix characterized Q2 as a momentary blip and projects a strong third quarter, with 7 million paid subscriber additions worldwide. A shareholders report also tried to put a positive spin, stating that Netflix’s “U.S. paid membership was essentially flat in Q2, [but they] expect it to return to more typical growth in Q3.”

H/t Big Lug

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~Eowyn

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Steven BroilesDr. EowynDeborah J TaylorMad CeltAlma Recent comment authors
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DCG
Editor

Yeah!

Alma
Member
Alma

Netflix……..flick the net. Don’t belong, never will, my money in my pocket.

Mad Celt
Guest
Mad Celt

Here in Georgia we were not wild about Kemp just viewed him as the lesser of two evils. Kemp was a pitiful failure as Secretary of State saving his political hide by passing the buck on several important county boundary disputes and siding with Atlanta in its tryanny over the rest of the state. We’re already organizing to make sure he’s a one term governor. The race was close simply because far too many simply could not stomach Brian Kemp. South and Middle Georgia did not turn out, despite network insistance. Kemp can not raise a crowd in ghe south… Read more »

Deborah J Taylor
Guest
Deborah J Taylor

I cancelled and told Netflix exactly why. People are tired of their anti life politics.

Steven Broiles
Member

Good for Gov. Kemp, but I think we need to know to what extent Google and other platforms can influence politics and help Netflix. Because they can help Netflix and their losses get covered in some way or other, we need to look at racketeering here. And this is because not only is leftism hatred, but it is also a criminal parasite racket, built upon identity politics and hatred of the family and all things good.