Netflix boss hit with tough questions about company’s future at Cannes Lions

  • 📰 PageSix
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 59%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Netflix lost nearly 200,000 subscribers in the first quarter of 2022, causing its stock prices to tank by nearly 50 percent.

and Ricky Gervais, which put him at the center of a culture war.

Netflix, once the darling of streaming and the envy of Hollywood, hit a major speed bump in April when it reported“Let’s start out with the bad news: Your stock price,” said tech journalist Kara Swisher, who interviewed Sarandos on Cannes Lions mainstage Thursday. “Flying high a year ago… things were going well. This was a moment where everyone said Netflix owned the world.”

The subscription decline has tanked Netflix’s stock nearly 50 percent since the announcement, causing Wall Street to question whether the streaming giant, which is known for hit shows like “Stranger Things,” “Bridgerton” and “Squid Game” has any more room to grow. Sarandos, 57, who was in Cannes to accept the Entertainment Person of the Year Award at the advertising festival, said he’s experienced similar hiccups in the past.

“There’s a time where the market disconnects from the core business. You have to prove to the market,” he said before calling out Hollywood, which has reveled in Netflix’s missteps.NurPhoto via Getty ImagesThe co-CEO of the world’s largest streaming service explained that the COVID-19 pandemic accelerated password sharing and there has been an increase in competition to the streaming space.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 320. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cannes Lions: Issa Rae Challenges Industry to Meet her 60 Percent Diversity MandateThe 'Insecure' star spoke out at a Cannes Lions panel on confronting bias. its never gonna be enough for the likes of her. cause Im 100% certain that black people are already vastly exceeding their 12% of the population quota. You see it clearly on american Tv & even in films. some news shows they are the majority presenters. also if you want true black representation maybe start by writing your own material. Instead of just taking white iconic shows & making POC versions of them. If would be called appropriation if done the other way round. Sounds racist. What is her problem with having 40% or 50%?
Source: THR - 🏆 411. / 53 Read more »

Issa Rae Challenges Advertising Industry To Follow Her Mandate For More Diverse Sets: Cannes Lions 2022Issa Rae has revealed she mandates that all of her sets are at least 60% diverse. The Golden Globe-nominated star and creator of Insecure disclosed the directive as she laid down a challenge to mar… Issa Rae is the moment LennyHenry This is so funny, all adverts have a black person in now white people are a minority its pathetic companies are scared to do a white advert
Source: DEADLINE - 🏆 109. / 63 Read more »