#Netflix stock price free#
"Advertising isn't a cure-all and it isn't free money," the note emphasized.Īlexandra is a Senior Entertainment and Food Reporter at Yahoo Finance.Data = data]ĭata.reset_index(drop=True, inplace=True) The analysts noted that Netflix should enter the ad space cautiously, describing it as a costly endeavor that needs to be crafted with the consumer experience in mind.
#Netflix stock price password#
The platform is currently testing a crackdown on password sharing, in addition to rolling out an ad-supported tier at the end of this year.īank of America's data revealed that customers across all income levels would switch to a discounted ad-based alternative - however, "ad-tiering could serve as a way for consumers across all income brackets to extend their streaming budget by trading down to subscribe to an additional service, benefiting Netflix's competitors much more than Netflix itself." In addition to layoffs, Netflix has unveiled other strategies to boost revenue.
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In recent weeks, a number of technology companies and venture capital–backed firms have announced plans to either freeze hiring, rescind accepted offers, or lay off employees. The job cuts follow Netflix's last round of layoffs in May when the streamer laid off 150 members of its workforce. To offset some of that churn, the company issued another round of job cuts on Thursday, eliminating 300 positions.Ī Netflix spokesperson told Yahoo Finance in a statement, "While we continue to invest significantly in the business, we made these adjustments so that our costs are growing in line with our slower revenue growth." It expects to lose another 2 million subs in the current quarter. Netflix announced an unexpected first-quarter subscriber loss of 200,000 users in April. Netflix stock, currently trading at around $180 a share, has plummeted 70% year-to-date amid a broader market sell-off that's slammed growth stocks and fueled talk of a potential recession.īank of America claims that although streaming "could be sticky in a recession," reoccurring cancellations and re-subscriptions (pegged to the releases of original content) are likely to occur. Overall, "while our survey indicates Netflix is currently consumers' top choice, we believe our results are indicative that streaming has very quickly become a commoditized product following the pandemic," the analysts wrote.Īs a result, original content will be key moving forward, allowing smaller platforms the opportunity to capture some of Netflix's 220 million-plus global subscriber base. "Our survey highlighted Netflix as a must-have service by a wide margin, leaving us very cautious on incremental net subscriber additions going forward," Bank of America said, adding that the platform's role as a "must-have service" is "more of a curse than a blessing."Īnalysts Nat Schindler, Justin Post and David Malinowski went on to explain that future subscriber growth will likely come from outside of the United States as the market reaches peak levels of saturation. Amazon Prime ( AMZN) and Hulu ( DIS) rounded out the top three, earning 71% and 60%, respectively.
adults to better understand Netflix's position amid the competitive streaming landscape.Īccording to the survey, Netflix remains the top most-subscribed-to service, capturing 79% of total respondents. The big bank, which slashed its price target on the stock from $240 a share to $196, surveyed over 1,200 U.S. Netflix ( NFLX) might be the number one streaming service on the market - but that's not always a good thing, at least according to a new note from Bank of America ( BAC).
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