Among many issues, he chalks things up to Netflix’s failure to adapt in a crowding field (especially regarding bingeing) and little to no marketing. This was a followup to his 2020 video The Fall of Netflix. The other night, I watched Captain Midnight’s video entitled Netflix Has to Change. It doesn’t have to be like this, and these actions look like Netflix is actively working against itself. In addition to firing people, Netflix has publicly stated that instituting a subscription tier that’s supported by advertisements is being considered. While I doubt the co-CEOs ( Reed Hastings and Ted Sarandos) will take any financial hit after their respective $34 million and $40 million salaries/stock, the company laid off most of their editorial Tudum team and shuttered much of its animation programming. The Q1 loss of 200,000 subscribers is still reverberating within Netflix.
