How do you make ‘Blockbuster’ for the streamer that helped kill it? ‘Call out Netflix’ creator ‘Netflix is really bad,’ say experts
Last month, Netflix chief content officer Ted Sarandos, who previously had been in charge of Amazon, told CNBC that the service was losing more than 30,000 subscribers per day. At the time, Netflix said it was “unprepared” for the impact of the pandemic, but a new Netflix subscriber was added every second.
The company quickly backed off its comments. “We remain focused on continuing to add and grow our subscriber base and bringing Netflix to new audiences around the world,” the company said in a statement issued to CNBC on Thursday. “As things continue to unfold in the coming weeks and months, we’ll continue to have greater clarity on the impact of the current situation and what the future looks like.”
At the onset of the crisis in January, Netflix was losing an average of nearly 17,000 subscribers a day and, according to Sarandos, Netflix was “unprepared.”
The Netflix chief was speaking to CNBC on a call hosted by former Microsoft CEO Satya Nadella. Nadella, who is now CEO of LinkedIn, is one of the most influential people in tech and previously held high-level roles at Microsoft and Facebook.
‘They couldn’t build a wall’: Netflix shows the lengths the streaming service went to get fans to donate
Last week, Netflix CEO Reed Hastings told Wall Street analysts that he believes the company was “in effect a victim” of the coronavirus pandemic, which took its toll on the company’s business.
“This was an exceptional period for Netflix, and it was an unprecedented period for the world in a long time,” Hastings told the investors. “We are deeply disappointed with the way this pandemic started and how it has evolved.”
Nadella, who was also at the call, had some choice words for Netflix, saying Netflix had “failed to build a wall” and instead “poured more money to the wall of the wall (at the time) than the wall actually needed.”
“That’s part of the story of why it is not healthy for the customer, is not healthy for the business, is not healthy for the shareholders,” Nadella said.
In a series of tweets, some Netflix fans expressed their displeasure at Netflix, saying they