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.