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Netflix Touts Record 7.7% Share Of Total TV Viewing In June, Defends Binge-Release Model
Posted on 7/19/22 at 5:46 pm
Posted on 7/19/22 at 5:46 pm
quote:
Netflix jumped ahead of Thursday’s planned release by Nielsen of monthly viewership through TV sets, revealed in its second-quarter shareholder letter today that its share of total TV viewing in the U.S. hit an all-time high of 7.7% in June, up from 6.6% in June 2021.
The stat, which is expected to be part of Nielsen’s monthly report on the overall TV and streaming field, proves “our ability to grow our engagement share as we continue to improve our service,” the company wrote in the letter.
“While we always have room to improve, we’re very pleased with how far we’ve come in providing so much satisfaction and enjoyment to our members,” it said. “In the U.S., which is one of the most competitive markets in the world, we drew more TV viewing time than any other outlet during the 2021-22 TV season.” The letter included a chart showing Netflix at 1.334 trillion minutes of streaming, dwarfing second-place CBS, which had 753 billion minutes of viewing.
Stranger Things, the start to whose fourth season set a Nielsen record with 7.2 billion minutes of streaming from May 30 to June 5, along with and widely seen titles like The Lincoln Lawyer and Adam Sandler basketball drama Hustle, drove tune-in during the month.
How release strategy correlates with tune-in continues to be the subject of vigorous debate. While Netflix’s signature binge-release strategy — a marked contrast with the typically one-episode-at-a-time method of Disney+, Apple TV+, HBO Max and other rivals — has served it well by some measures for the past decade, skeptics have questioned the company’s insistence on it during such a reversal of fortune for Netflix. The company has now lost more than 1 million subscribers in the first half of 2022 compared with a gain of 26 million in the first half of 2020. Why keep burning off all of that programming, the criticism goes, when a phenomenon like Stranger Things could become a two-month orgy of publicity and word of mouth?
In the shareholder letter, the company appeared to push back and defend its methodology, though it did not draw attention to the fact that both Ozark and Stranger Things had staggered rollouts of their most recent seasons.
“As a pure play streaming business, we’re unencumbered by legacy revenue streams,” the letter said. “This freedom means we can offer big movies direct-to-Netflix, without the need for extended or exclusive theatrical windows, and let members binge watch TV if they want, without having to wait for a new episode to drop each week. This focus on choice and control for members influences all aspects of our strategy, creating what we believe to be a significant long term business advantage.”
Deadline
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Posted on 7/19/22 at 5:57 pm to RollTide1987
Stranger Things is gone for now
Their numbers will drop bigly
I just cancelled
Their numbers will drop bigly
I just cancelled
Posted on 7/19/22 at 6:00 pm to Cosmo
quote:
Stranger Things is gone for now Their numbers will drop bigly I just cancelled
I’d imagine a lot will… don’t see how they predicted such massive losses, knowing tons would sign up/keep until last two episodes dropped in July.
Posted on 7/19/22 at 6:00 pm to RollTide1987
quote:
The company has now lost more than 1 million subscribers in the first half of 2022
Burying the lead there don’t you think
Posted on 7/19/22 at 6:02 pm to RollTide1987
I'm a fan of the bing-release model. Wish all of the streaming services did that.
Posted on 7/19/22 at 6:04 pm to PNW_TigerSaint
I like the binge release model also, but obviously it's not working for Netflix.
Posted on 7/19/22 at 6:04 pm to Cosmo
quote:
Their numbers will drop bigly
They're projecting a net increase for next quarter.
I suspect their numbers won't drop that significantly - they actually gained subscribers outside of the US/Europe.
I think their numbers will drop slightly but not as much as people think.
Stranger Things only had 2.9 billion minutes of viewing time. When total viewership was around 1.3 trillion, 2.9 billion suggests most viewers aren't watching Stranger Things (it's still the most popular show for sure BUT I'd still estimate that most people are subscribed for more than Stranger Things).
I'm subscribed to Netflix for their true crime documentaries and other documentaries. I can't get enough of them.
Posted on 7/19/22 at 6:05 pm to PNW_TigerSaint
I like the binge release model, it’s just a shame that a lot of the truly original content is garbage. Not talking about the right to distribute “original content” like Derry girls.
Honestly Netflix is kind of shite at coming up with good series or movie ideas. But I will give them credit, they are good at identifying content from other countries that is niche that will be well received.
Honestly Netflix is kind of shite at coming up with good series or movie ideas. But I will give them credit, they are good at identifying content from other countries that is niche that will be well received.
Posted on 7/19/22 at 6:06 pm to Proximo
They raised prices by 10% in the US/Europe.
To only lose 0.5% of your subscriber base while increasing prices by 10% suggests that most people are still retaining Netflix.
It suggests that there's still capacity to raise prices even further, retain their subscribers, and actually start making larger profits.
Netflix in fact has the lowest churn rate of any streaming service in the US (Apple+ has the highest churn rate), which means people who are subscribed rarely leave the platform.
To only lose 0.5% of your subscriber base while increasing prices by 10% suggests that most people are still retaining Netflix.
It suggests that there's still capacity to raise prices even further, retain their subscribers, and actually start making larger profits.
Netflix in fact has the lowest churn rate of any streaming service in the US (Apple+ has the highest churn rate), which means people who are subscribed rarely leave the platform.
Posted on 7/19/22 at 7:13 pm to RollTide1987
Netflix won't exist in ten years.
Posted on 7/19/22 at 7:28 pm to Cosmo
quote:
Stranger Things is gone for now Their numbers will drop bigly
Is ST really that popular? What is its target demographic?
Posted on 7/19/22 at 8:02 pm to kciDAtaE
quote:Apparently my older two children and myself.
Is ST really that popular? What is its target demographic?
So preteen through late 30’s.
The music this year was pretty awesome since it was set in my childhood of the mid to late 80’s
Posted on 7/19/22 at 10:13 pm to Cosmo
quote:
I just cancelled
Cool. Even with losing subs, Netflix has many times more viewing hours than any other streaming service. They're the only streaming service that actually makes money right now. They don't need to defend anything.
Many of us here don't like or don't care about their programming. The world at large still isn't turning it off.
Posted on 7/19/22 at 10:15 pm to Proximo
quote:
The company has now lost more than 1 million subscribers in the first half of 2022
Burying the lead there don’t you think
No. One of the recent episodes of The Town podcast covered this. As netflix and Disney move to advertising models, subscriber numbers matter less. What matters more is viewing time. The advertisers care how many minutes per day they can reach potential customers.
Posted on 7/19/22 at 10:17 pm to 225rumpshaker
quote:
Apparently my older two children and myself.
So in your case, Families. Correct?
Are you cancelling Netflix?
Posted on 7/19/22 at 10:42 pm to Jay Are
quote:
subscriber numbers matter less. What matters more is viewing time. The advertisers care how many minutes per day they can reach potential customers.
100% accurate. The subs are important, sure, but their main target to bring profit is clicks and viewing hours.
Posted on 7/20/22 at 12:47 am to Jay Are
quote:
Many of us here don't like or don't care about their programming. The world at large still isn't turning it off
Probably because of the streaming options internationally. I can’t use Hulu when I’m out of the country and Prime content is limited when not in the States.
I’m still interested in what their global numbers are though because I’ve met several people that use pirated streaming sites instead. When I told them I pay for several streaming platforms they looked at me like I was crazy.
Posted on 7/20/22 at 6:03 am to kciDAtaE
quote:No my children have a lot of series on Netflix they watch, content catalog is pretty large for them.
So in your case, Families. Correct? Are you cancelling Netflix?
I still have to finish peaky blinders as well.
Posted on 7/20/22 at 6:59 am to PNW_TigerSaint
quote:
I'm a fan of the bing-release model. Wish all of the streaming services did that.
I am…but also not.
Certain shows that I go more than a year between watching seasons of I don’t remember much of any of the nuance or finer detail on.
I reeeeally like what they did with Stranger Things splitting up in two. I think the bigger story here is not necessarily just the binge model, but, the general freedom to release content in the format you please.
Want to release 4 then 2? Sure. All at once? Sure. Three sets of episodes in a trilogy? Sure. I want to see more creativity in that regard frankly.
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