This Business

September 2022 - Netflix | Winner

Netflix may have won the early battles, but they’re losing the streaming wars. Recently, they upset their customers by hiking up prices and featuring programming many found tone-deaf. The stock price dive-bombed and they’re bleeding subscribers.
So what happened to the content darling? Netflix began as innovators: digital entertainment free from annoying commercial breaks and the sky-high costs of cable. But the rest of the industry has caught up, and the resulting competition has destroyed streaming services’ initial customer-centric revolution. Now streamers are just as bottom-line driven as the traditional media conglomerates they replaced, commercials have re-emerged and you need multiple subscriptions to keep abreast of all the buzzworthy shows. Netflix has even resorted to cracking down on password sharing in an effort to squeeze out every last penny from its viewers.

Our Bad Business Award winner admits it’s not raising prices because of any new value-add. In fact, they openly acknowledge the move is in response to the successes of rivals like Hulu and Disney. Sure, Netflix spokespeople vaguely promise a host of “new programming”—but does that really matter when they won’t stop prematurely canceling every franchise they invest in? Fan favorites like The Babysitter’s ClubAtypicalAnne with an E, and Mystery Science Theatre 3000 are just a few recent additions to the chopping block.

They are also unable to toe the fine line between “edgy” and “offensive” by hosting off-kilter comedy specials packed with a stunning amount of transphobic jokes and other abhorrent content. Their ongoing relationship with problematic comedian Dave Chapelle shows the platform isn’t worried about “punching down”. Viewers, social media users, and even Netflix employees have decried the decision to launch the special—something Netflix executives completely ignored. They even sunk as low as to suspend employees who spoke out in protest. Not cool, Netflix, not cool. A few employees have now launched a labor complaint against the company…and honestly, good on them!

Want to join them? Pick up Netflix.SUCKS and design your own protest page to share online.

Netflix has had some missteps this year for sure. But Hulu, Amazon Video, and Disney+ better watch their backs. Next thing you know, we’ll be writing about how AllStreaming.SUCKS—period.
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