Netflix Reportedly Spending $30 Million Per ‘Stranger Things’ Episode as Stock Crashes
Netflix’s PR hellscape got worse this week on reports that it’s spending $30 million per episode on the fourth season of its flagship series “Stranger Things.”
Netflix’s PR hellscape got worse this week on reports that it’s spending $30 million per episode on the fourth season of its flagship series “Stranger Things.”
The sharp drop in Netflix stock “led to a wave of downgrades from Wall Street on fears over the company’s long-term growth potential,” resulting in a loss of more than $50 billion of its market cap.
In a resounding sign of no confidence, hedge fund billionaire Bill Ackman has dumped the 3.1 million shares of Netflix that his fund purchased just three months ago, saying he has lost confidence in the ability to predict the streamer’s future prospects.
Streaming giant Netflix suffered a $50 billion slash off its market cap Wednesday after its shares closed down 35 percent upon news that the company had lost over 200,000 subscribers with expectations to lose more in the future.
Following the recent news of disastrous subscriber numbers and a revenue downturn, Netflix is planning a potential crackdown on households sharing passwords.
Netflix shares continued their free fall Wednesday after analysts downgraded the stock following the left-wing streamer’s disastrous first quarter results that showed a loss of 200,000 subscribers and a projected loss of 2 million more in the months ahead.
Elon Musk, the richest man in the world, tweeted out this truth Tuesday: “The woke mind virus is making Netflix unwatchable.”
Netflix saw its stock tank 25 percent after it reported losing 200,000 subscribers in the company’s first quarter – the sharpest decline in a decade.
Netflix is facing what can only be described as a nightmare scenario as customers continue to abandon the far-left streaming entertainment giant in droves, threatening the company’s financial stability.
Netflix fired 84-year-old Frank Langella over a minor sexual harassment complaint and an allegation involving “an inappropriate joke.”
Netflix paid producer Ryan Murphy a whopping $300 million to leave ABC/Disney, and the results have been failure after failure.
A planned movie based on the life of Hollywood star Will Smith is in trouble after Netflix and Apple have reportedly withdrawn their bids amid the fallout from the Oscars night slap.
The fallout from actor Will Smith’s assault on comedian Chris Rock during the Oscars telecast continued this weekend.
Judd Apatow’s Hollywood satire The Bubble offers exactly two laughs over 126 never-ending minutes.
Netflix’s new six-part documentary, “The Diaries of Andy Warhol,” is a grotesque thing that reduces a complex genius to his sex organs.
Netflix’s “Don’t Look Up” director Adam McKay has used Oscars season to re-invent himself as one of Hollywood’s most vocal climate change activists. He has called climate change the most serious threat facing mankind, demanded the defunding of a natural gas pipeline, and even claimed that anyone who dislikes his movie isn’t serious about global warming.
(AFP) France has charged seven youths over a massive daylight robbery from a film crew shooting the new season of hit Netflix heist series “Lupin”, French prosecutors said Friday. The TV unit along with star actor Omar Sy were filming
Streaming giant Netflix will reportedly soon be testing a scheme to make primary account holders pay a fee for users outside their households to crack down on password sharing.
The comedy satire in which Volodymyr Zelensky unexpectedly becomes Ukraine’s president — his now war-time job in real life — will be aired again on Netflix, the streaming platform announced Wednesday.
Netflix is giving a glimpse of the new series Our Great National Parks. The streaming service shared a trailer for the docuseries Tuesday featuring president Barack Obama.
Director Jane Campion has replied to actor Sam Elliott’s criticism of her film blasting him for “misogyny, xenophobia, and homophobia.”
Netflix has reportedly shut down its streaming service in Russia following the country’s ongoing invasion of Ukraine. The company seems to have no similar problem with China’s ongoing genocide of the Uyghurs and other horrors.
Christine Quinn, the star of the Netflix real estate sales reality series, Selling Sunset, was rudely awakened Friday morning by the noise of home invaders trying to break into her L.A. abode, according to reports.
Production was abruptly shut down on the Netflix cooking competition show, “Nailed It! Halloween,” after the crew walked out in support of attempts to unionize the production.
Netflix has asked a federal court to stop a Texas prosecutor from pushing child pornog charges for distributing the film “Cuties.”
Streaming giant Netflix announced a suspension of all projects and acquisitions based in Russia.
The sets of two Netflix series have been robbed, with thieves walking away with $500,000 worth of props and equipment from both “Lupin” and “The Crown.”
Actor Sam Elliot is no fan of Netflix’s Oscar-nominated “The Power of the Dog” and isn’t afraid to say it, calling the movie a “piece of shit” while blasting the gay subtext and director Jane Campion’s decision to shoot the Montana-set western in New Zealand.
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In what is considered by many to be a woke fail, and a free speech win, Netflix announced on Friday four new Dave Chappelle comedy specials, despite the veteran comedian coming under attack by a cancel culture mob in the wake of his latest special, “The Closer.”
Jerry Harris, one of the stars of the 2020 Netflix series ‘Cheer,’ pleaded guilty to federal charges of child sex abuse.
Feb. 8 (UPI) — Netflix’s The Power of the Dog was nominated for a leading 12 Academy Awards — including Best Picture — in Los Angeles Tuesday morning.
Scottish comedians Count Dankula and Leo Kearse have defended Jimmy Carr’s right to be offensive amid calls for the star to be canceled.
Viewer data suggests that many Netflix original hit series quickly fizzle out after peaking in the first month following their debuts. Even the extremely popular Squid Game series reportedly suffered a pronounced drop after a hot start.
Hollywood streaming services, including Disney+ and HBO Max, are facing a major challenge in their efforts to expand their subscriber bases. New data reveal customer churn has become a problem as streamers are failing to retain subscribers who sign up around the release of a hotly anticipated new movie or TV show.
The LGBTQ Human Rights Campaign is punishing Netflix for its handling of Dave Chappelle’s “The Closer” by taking away the streamer’s “Best Places to Work” distinction in its annual ratings of companies. In its announcement, the activist group accused Netflix of actually harming its transgender employees by streaming the stand-up comedy special.
Left-wing Hollywood star Ron Perlman has thrown a temper tantrum at movie critics who dared to give negative reviews to Netflix’s climate change satire “Don’t Look Up,” in which he co-stars alongside Leonardo DiCaprio, Jennifer Lawrence, and Meryl Streep.
Netflix is officially a dog stock, with shares of the left-wing streaming giant losing a whopping 40 percent of their value since the start of 2022 amid anemic new customer figures and analyst downgrades, all of which point to a rockier future ahead for the once invincible company.
Netflix had another disastrous quarter as new subscriptions fell short of guidance, causing shares of the streaming entertainment giant to plummet close to 20 percent in after-hours trading on Thursday. Compounding the gloom, the company said it is expecting weak subscriber growth for the first three months of 2022, with executives blaming the continued effects of the COVID-19 pandemic.
A Netflix documentary has already been announced to follow the drama over Serbian tennis star Novak Djokovic’s visa mess in Australia — which culminated in his deportation before he could compete in the Australian Open.