Netflix Sees Drop in Membership, Continues to Face Backlash from Immoral Content
By Cooper Dowd, Staff Writer
A recent report shows Netflix fell well short of its expected number of new subscribers as the company continues to face the consequences of pushing immoral content like CUTIES, 365 DAYS and DARK DESIRES.
According to CNBC, Netflix put up a lackluster third quarter:
- Earnings per share (EPS): $1.74 vs $2.14 expected, according to Refinitiv consensus estimate
- Revenue: $6.44 billion vs $6.38 billion expected, according to Refinitiv
- Global paid net subscriber additions: 2.20 million vs. 3.57 million expected, according to FactSet
The streaming service wants to blame the coronavirus rather than taking a hard look at their own product.
In a letter to shareholders, executives wrote, “The state of the pandemic and its impact continues to make projections very uncertain, but as the world hopefully recovers in 2021, we would expect that our growth will revert back to levels similar to pre-COVID.”
Netflix hopes to add 6.0 million subscribers for the 2020 fourth quarter, a drastic drop from the 8.8 million subscribers they garnered in 2019’s fourth quarter.
Though Netflix is blaming the pandemic, Movieguide® believes the streaming giant lost subscribers because of its push to distribute grossly immoral content.
Netflix came under fire for their distribution of a French movie called CUTIES, which centers on a dance troupe of prepubescent girls who participate in sexually suggestive routines while wearing inappropriate outfits.
When pressed to remove the movie, which many people say equates to child pornography, Netflix refused. The company also eagerly distributes shows like 365 DAYS and DARK DESIRES, which contain depictions of rape and other sexual violence.
Many subscribers chose to voice their outrage by canceling their Netflix subscriptions.
In an effort to win them back, Netflix says they are interested in adding in more family content.
For example, Movieguide® recently reported that Netflix co-CEO Reed Hastings wants to compete with Disney+ by offering more animated content geared towards families.
Movieguide ®’s annual report outlines the direct correlation between family-friendly movies and box office revenue, making the addition of moral content a win-win strategy for Netflix.