Netflix co-founder Hastings steps down as CEO as company adds subscribers

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He hands over the reins to longtime partner and co-CEO, Ted Sarandos, and the company's chief operating officer, Greg Peters.

Netflix lost customers in the first half of 2022. It returned to growth in the second half, but new customer additions remain below the pace of recent years.

Netflix will start rolling out features this quarter to try and convert more password sharers to paying subscribers, Peters said. He acknowledged it will not be a "universally popular move," comparing it to a price increase that will increase cancellations for a time but pay off with added revenue.Audiences flocked to Addams family tale "Wednesday," the third-most watched show in Netflix history, the company said.

"It feels like yesterday we were at our IPO. We were covered in red envelopes," Hastings said on Thursday in a post-earnings video interview.

 

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Enh, oh well. Being WOKE doesn’t help or costs

Roman circus

I guess that means more homophobic & anti-trans specials from Dave Chapelle.

People should probably start pointlessly naming other CEOs who've recently stepped down and point to it as evidence that something sinister is about to be exposed (Again).

Now maybe they can stop canceling shows we actually like.

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Reed Hastings steps down as Netflix CEO as company posts subscriber gainsHe hands over the reins to longtime partner and co-CEO, Ted Sarandos, and the company's chief operating officer, Greg Peters. Hope he remembers to thank Duchess Meghan and Prince Harry
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