Corporate interests have been very careful till recently to avoid mentioning the particular “ I” word within their quarterly reports, but the times are changing.
Articles streaming giant Netflix just mentioned “ inflation” one time in its first quarter notice to shareholders, but with the business now engaging in mass layoffs and losing subscribers towards the tune of 200, 000 at the beginning of the year while expecting 2 million more losses in the near term, hiding reality is becoming more difficult.
In an job interview with French newspaper LeJDD , Netflix Co-CEO Ted Sarandos focused on pumpiing as the company’s worst foe as it reduces consumer buying power and suffocates comfort spending. This is a sharpened departure from the usual Netflix narrative that adding limitations on multiple users regarding single accounts and more competition are the main cause of subscriber losses and an entrance that wider economic issues are affecting the viability of the business.
It’s important to note that Netflix continues to be registering terrible performance on its content for some time at this point, and politically motivated shows are mostly to blame. Only in the past couple of months has Netflix quietly accepted this and started cutting woke “ diversity and inclusion” tasks like ‘ Anti-Racist Baby’ and ‘ Q-Force’ (Queer Force). They just don’t have the money to virtue signal with every single show as they have been doing within the past five years.
That said, the stagflation crisis is only making matters worse for the loading service. Consumers tend to look for fantasy and escape from worldly concerns in times of economy stress and are even willing to continue paying for enjoyment while in poverty for this reason. This is why Hollywood was mostly of the thriving industries in the US throughout the Great Depression. But without solid content that attracts the public and offers moments of relief from political and social strife, companies like Netflix have nothing to offer.
Price pumpiing tends to hyperfocus consumers into thinking about necessities, and Netflix has proven time and time again it is certainly not necessary.
The revolution will never be televised .