Netflix Drops $50 Billion In Value Overnight After Falling Short Of Subscriber Goals
Paramount Pictures By Ben F. Silverio/Jan. 24, 2022 9:38 am EST
Even before the world was forced to stay home more than ever, Netflix was a major part of the cultural zeitgeist. For better or for worse, the phrase and the associated action of “Netflix and chill” has basically replaced “dinner and a movie.” Netflix as a noun, meaning a subscription-based site where one can find a nearly endless amount of movies and shows, is ingrained in our vernacular just as Kleenex, Coke, and Q-Tip has replaced tissue, soda, and cotton swab for many people.
However, that kind of success isn’t enough for the company’s stock holders and the fat cats of Wall Street. After Netflix fell short of the projected subscriber goals in its fourth quarter earnings last week, the company’s market cap dropped around $50 billion in value overnight.
Netflix Drops $50 Billion In Value Overnight After Falling Short Of Subscriber Goals
Paramount Pictures
By Ben F. Silverio/Jan. 24, 2022 9:38 am EST
Even before the world was forced to stay home more than ever, Netflix was a major part of the cultural zeitgeist. For better or for worse, the phrase and the associated action of “Netflix and chill” has basically replaced “dinner and a movie.” Netflix as a noun, meaning a subscription-based site where one can find a nearly endless amount of movies and shows, is ingrained in our vernacular just as Kleenex, Coke, and Q-Tip has replaced tissue, soda, and cotton swab for many people.
However, that kind of success isn’t enough for the company’s stock holders and the fat cats of Wall Street. After Netflix fell short of the projected subscriber goals in its fourth quarter earnings last week, the company’s market cap dropped around $50 billion in value overnight.
However, that kind of success isn’t enough for the company’s stock holders and the fat cats of Wall Street. After Netflix fell short of the projected subscriber goals in its fourth quarter earnings last week, the company’s market cap dropped around $50 billion in value overnight.
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It’ll be interesting to see what kind of moves Netflix makes this year to try and recuperate these losses while competing with other streamers like Disney+, Apple TV+, HBO Max, and Peacock. In a perfect world, they might invest more money into creative, original programming or exciting new movies. But in reality, I’ll bet that we see more beloved shows like “GLOW” get the ax prematurely.
