Another Sign Woke Netflix Is In Trouble
Netflix announced that it had lost 200,000 subscribers in just three months.
Netflix has sped up plans to introduce a cheaper subscription plan in a bid to retain customers, after its quarterly figures revealed it had lost 200,000 people in just three months.
The streaming service has been one of the corporate victims of the cost of living crisis, with hundreds of thousands of users quitting to the service to keep up with mounting expenses.
On April 19, Netflix announced its numbers had fallen for the first time in a decade – losing 200,000 customers against a target of adding 2.5million new subscribers.
Things seem to be getting worse.
Netflix is now telling its employees to spend money more carefully – this is another sign that the company is hurting financially.
Streaming giant Netflix is advising its employees to be more careful with how they are spending company money, according to a new memo posted to the company’s website.
The directive is found in a memo, first reported by Variety, titled “Netflix Culture – Seeking Excellence.” Under the “Judgment” section, it encourages employees to “spend our members’ money wisely.”
The memo goes on to detail other company best practices like selflessness, courage, communication, inclusion and more.
Many people have pointed to Netflix becoming more woke as a reason for its recent failures.