Netflix subscriptions cratered during September amid the backlash the streaming company faced for releasing “Cuties,” a French film that depicts pre-pubescent girls in sexually provocative situations.
The New York data analytics firms Antenna and YipitData reported a sizable decline in subscriptions, with Antenna claiming that Netflix lost five times as many subscribers in the opening weeks of September than during the entire month of August, according to the New York Post.
YipitData said that September cancellations were eight times that of those in August, a statistic they deemed “a multi-year high.”
Netflix’s earnings and net subscriber additions fell short of analyst estimates last quarter, according to CNBC. Netflix Vice President of Investor Relations Spencer Wang urged shareholders not to put too much stock in the number of subscribers, saying, “We just really don’t over-focus on any 90-day period. And just to give you an example, if the quarter was 48 hours longer, we would have come in slightly above our guidance forecast.”- READ MORE
Listen to the insightful Thomas Paine Podcast Below --