this post was submitted on 19 Jul 2023
241 points (97.3% liked)
Technology
59719 readers
2776 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Forbes (2020) seems to disagree: "Viewed from the lens of net income, Netflix has been performing well, with its net profits growing 3x from around $0.6 billion in 2017 to $1.9 billion in 2019." If their profitability increased during the pandemic, as seems likely, this feels more like another naked money grab. It's almost guaranteed to drive away users, something that they can ill afford under any circumstances.
Yeah not sure what they're talking about as Netflix was massive long before COVID was a thing. They were the first streaming service and brought rise to all the others.
Yeah, Netflix has been profitable for decades. They killed Blockbuster and other rental stores. One doesn't manage to do that while losing money.
I mean, you can see their financial statements. All that stuff is public info since they are a publicly traded company. This chart shows the net profits since 2010 going from 161m to almost 5B
https://www.macrotrends.net/stocks/charts/NFLX/netflix/net-income