2002: Netflix goes public. Randolph leaves the company shortly thereafter.
“As you get older, if you’re lucky, you realize two things: what you love, but also what you do well,” Randolph said. Forbes in 2019 why he left
. “The answer to both [for me] is start-up companies. I like clutter. I love the fact that you’re working on hundreds of things at once.”
2012: Netflix launches “Lilyhammer”, its first original series. The show originally aired in Norway, but Netflix acquired the rights. It laid the foundation for Netflix’s binge-casting model and its rise in original programming, including expansion into international markets.
“It was the first time we aired a show in multiple countries and languages and it worked,” said current Netflix co-CEO Ted Sarandos. wrote in a blog post in February.
“It worked because it was a deeply local story that we could share with the world,” Sarandos added.
2018: Netflix wins the Oscar for its first feature film, that of the best documentary feature for “Icarus”. Later that year, he released “Roma”, which became Netflix’s first Best Picture nominee the following year.
has yet to land the Oscars top prize, despite elaborate campaign spending. Apple TV+ won Best Picture this year for “CODA”, becoming the first
platform to do so.
April 2022: Netflix reports that it lost subscribers for the first time in a decade in Q1 2022. It lost 200,000 subscribers and said it expected to lose 2 million more in Q2.
In addition to the economic constraints of the coronavirus pandemic,
blamed the loss of subscribers in part on password sharing. He said he estimates an additional 100 million people on top of his 220 million subscribers are using Netflix with a shared password.
He also acknowledged increased competition. In recent years, new
services like Disney+,
Paramount+ and many more have entered the space in addition to already existing rivals like
and Prime Video.
May and June 2022: Netflix makes layoffs amid slowing revenue growth.
laid off 150 employees in May, then another 300 this month.
“As we continue to make significant investments in the business, we have made these adjustments so that our costs increase in line with our slower revenue growth,” a Netflix spokesperson said of the release. latest round of layoffs.
June 2022: Hastings confirms an ad-supported tier is coming to Netflix.
Hastings confirmed to the Cannes Lions this month that
plans to roll out an ad-supported plan, which it has pushed back against in the past, as the company faces slowing revenue growth and loses subscribers. It’s something that other streamers have adopted, like
and Paramount+. Disney+, its biggest rival, also plans to launch an ad-supported option.
“We left out a big customer segment, which was people who say, ‘Hey, Netflix is too expensive for me and I don’t mind advertising,’” Hastings said.
Netflix’s standard HD plan (its most popular plan) is $15.49 per month after the company recently raised prices. This makes it the most expensive
service, topping HBO Max’s $14.99 ad-free plan.
The New York Times announced last month that the ad-supported plan could roll out as soon as the end of this year.
Despite the recent turmoil, Netflix still plans to spend $17 billion on content this year, according to The New York Times.
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