Last Thursday, January 19, the then CEO Netflix, Reed Hastingsleft his post. Ted Sarandos and Greg Peters will be your substitutes. For those involved in internal affairs streamingtwo people were promoted as recently as July 2020, at a time when the world was immersed in the effects of the pandemic and social isolation. Hastings He wrote:

“It was a baptism of fire given COVID-19 and the recent challenges in our business (…) But both performed incredibly well… so the board and I feel it is time to announce my succession.”

The former CEO revealed that Netflix managed to add 7.66 million subscribers in the fourth quarter of 2022, beating forecasts that indicated “only” 4.57 million. With the emergence of strong competitors such as Disney+ and Amazon Prime Videothe platform seeks to restructure business models and maintain the profitability of its investments.

Netflix lost a significant share of users in early 2022

At the beginning of last year, it was reported that service lost about 200,000 subscribers and despite efforts, executives are working to reverse the losses. Even with recent growth, the pace remains lower than in previous periods. To reduce losses, the company offered cheaper plans (but with ads) and also tried to restrict password sharing more strictly.

OUR global basis subscribers is reliable: 231 million individuals were recorded at the end of December. One of the recent successful Netflix series was “Vandinha”, which became one of the most watched programs in the history of the medium and ensured a prosperous period of service.

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Netflix is ​​the preferred streaming app for Brazilians with over 1.1 million monthly downloads.
The platform also has a higher user satisfaction rate.

Source: Epoka Negosios.

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