HBO Max was sold to Discovery, Showtime was consolidated into Paramount Plus, and Netflix' crack down on password sharing dented their growth. That's just the top three that come to mind. Banks are failing, layoffs are in full swing, and a consumer pullback on everything except travel, and dining is underway. When 1.4 new users take the place of every exiting user, as we did during the pandemic, it was easy to ignore drop in usage or lack of return visits. Not any more. Every subscription business is now focused on earning their fees. Content, content, content is more like Content, user, value.
Read moreNetflix (NFLX) shares are tanking 35% on Wednesday afternoon, their worst daily performance since 2004 after an unexpected decline in first-quarter net subscribers.
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