Netflix Hammers the Last Nail Into Linear TV’s Coffin.
By Paul Hardart
Netflix just rocked Wall Street by announcing its fourth-quarter results. The streaming giant added 13.1 million subscribers over the last three months, beating its own forecast of 9 million, and nearly 30 million new subscribers flocked to the platform in 2023. Following the news, the company’s stock surged over 14%.
You’d be forgiven for being shocked. Reports, polls and studies have told us that consumers are tired of paying for subscriptions and churn rates — or cancellations — have been on the rise.
And yet, Netflix, as some have pointed out, is the reigning champion of the streaming wars.
Read full Bloomberg article.
___
Paul Hardart is Clinical Professor of Marketing and Director of the Entertainment, Media and Technology Program at NYU Stern.