How one Netflix show helped it become a $366,000,000,000 business after losing almost one million subscribers

Netflix might be the world’s biggest streaming service, but once upon a time it almost met a totally different fate.

One major mistake saw the streamer lose almost one million subscribers in a single quarter, while tanking its stock price.

The launch of one particular series, however, propelled the company to new heights, with it being worth a huge $366 billion today.

Here’s how Netflix almost lost itself completely, and the incredible comeback that followed…

Netflix’s history pre-streaming

Then-Netflix CEO Reed Hastings with a cart full of ready-to-be-shipped DVDs in 2002 (Photo By Justin Sullivan/Getty Images)

Then-Netflix CEO Reed Hastings with a cart full of ready-to-be-shipped DVDs in 2002 (Photo By Justin Sullivan/Getty Images)

Netflix began life as a mail-order DVD service, founded by Marc Randolph and Reed Hastings in 1998.

Established in the midst of the dot com bubble, it offered a web-based catalogue of movies for subscribers to browse.

A year in, the CEOs implemented a subscription-based model, allowing customers to rent, receive and return unlimited discs per month by mail.

And by January 2002, the online DVD rental site had 500,000 subscribers, which increased to 700,000 by the end of the year.

That figure had grown more than five times over by 2005, with 3.6 million paying customers – so there was clear demand for DVD rental.

Move to online streaming

Streaming only became 'a thing' in the US in 2007 (Nanci Santos)

Streaming only became ‘a thing’ in the US in 2007 (Nanci Santos)

Netflix’s most popular feature – streaming – wasn’t launched until 2007, which is hard to imagine now. (The streamer didn’t launch in the UK until 2012, which is even harder to believe).

Anyway, 2007 marked the start of a shift away from the traditional DVD rental format.

But in 2011, Netflix made a major change which very much almost killed the business.

Netflix customers weren't impressed (Daniel Sambraus/Getty Images)

Netflix customers weren’t impressed (Daniel Sambraus/Getty Images)

DVD and streaming subscriptions were separated, and their prices upped.

A $10 all-in-one package was now two $8-plans, effectively dropping a 60 percent price increase on customers – in the midst of a massive recession, no less.

For good measure, the company was then renamed Qwikster – not quite so catchy, is it?

Subscriber exodus

The change seriously angered customers and had a devastating impact on the business.

Qwikster lost 800,000 subscribers in a single quarter, while its stock price tanked by almost 80 percent, from $300 a share to $65 by the year’s end.

Bosses responded swiftly by scrapping the name and issuing a public apology. The damage was already done, though, and a tough 18 months followed.

House of Cards Trailer
Netflix
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How Netflix Originals saved the platform

In a bid to rebuild from its mistake, Netflix paid especially close attention to customers’ demands.

Among them was more original programming – and, boy, did the company deliver…

The company had started putting in the groundwork for its original TV shows in 2010, and by 2013, it was ready to bask in the fruits of its labor.

Its first ever original series, political thriller House of Cards, released that April, earning critical acclaim and numerous award nominations.

Its formula – an intense drama, plus big Hollywood names like Kevin Spacey and Robin Wright – was a winner.

Jonathan Friedland, the company’s chief communications officer, told the New York Times that ‘because we have a direct relationship with consumers, we know what people like to watch, and that helps us understand how big the interest is going to be for a given show.’

He added: “It gave us some confidence that we could find an audience for a show like House of Cards.”

The Originals legacy

House of Cards proved that big names – and even bigger budgets – were yielding success for the platform.

People were willing to sign up for quality, original content and the proof was in the numbers.

The platform gained 9.9 million subscribers the year House of Cards debuted, bringing its total number to 35.6 million.

2016's Stranger Things was a major success for the platform (Netflix)

2016’s Stranger Things was a major success for the platform (Netflix)

Now, around 55 percent of its US library is made up of original content, including Stranger Things, The Crown, Orange is the New Black and Squid Game.

In fact, the top 10 most-streamed Netflix shows of all time are all originals.

The company shows no signs of slowing down, either.

Last summer, it gained a further eight million subscribers, partly off the back of the successes of Bridgeton season three and British thriller Baby Reindeer.

And as of September 2024, Netflix had 282.7 million paid subscribers worldwide, while its share price is currently $863.60 – a far cry from its 2011 crash.

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  • I g­e­t p­a­i­d o­v­e­r $­2­2­0 p­e­r h­o­u­r w­o­r­k­i­n­g f­r­o­m h­o­m­e w­i­t­h 2 k­i­d­s a­t h­o­m­e. I n­e­v­e­r t­h­o­u­g­h­t I w­o­u­l­d b­e a­b­l­e t­o d­o i­t b­u­t m­y b­e­s­t f­r­i­e­n­d e­a­r­n­s o­v­e­r $­3­5­,­0­0­0 a m­o­n­t­h>>>> W­­o­­r­­k­­H­­i­­g­h­­s.C­­o­­m

    t­h­i­s i­s a b­i­g …

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Topics: NetflixBusinessFilm and TV

Elon Musk speaks out after being accused of giving 'Nazi salute' at Trump rally

Elon Musk speaks out after being accused of giving ‘Nazi salute’ at Trump rally

The Tesla CEO appeared to make an offensive gesture

Liv Bridge

Liv Bridge

Elon Musk has spoken out after being accused of giving a ‘Nazi salute’ during Donald Trump’s inauguration.

On Monday (January 20), Donald Trump was officially sworn into the White House as the 47th President of the United States and for his second term since 2021.

The President made a raft of promises during his inauguration speech as he vowed the ‘golden age of America begins’ with his term.

However, during his inauguration celebration, the Tesla CEO and SpaceX founder, Musk, appeared to make a ‘Nazi salute’ in the Capitol One Arena, Washington, ahead of the Inauguration Day parade.

Musk made the awkward gesture inside the Capitol One Arena during the inauguration (ANGELA WEISS/AFP via Getty Images)

Musk made the awkward gesture inside the Capitol One Arena during the inauguration (ANGELA WEISS/AFP via Getty Images)

The 53-year-old appeared to be thrilled about the prospect of sending a man to Mars and planting an American flag, during which the Twitter owner thumped his chest and shot his right arm out towards the sky.

The billionaire tech mogul commented: “Thank you for making it happen. Thank you, my heart goes out to you,” before turning back to the audience and repeating the bizarre gesture towards the American flag.

The move sparked controversy online with many describing the gesture as akin to a fascist salute or ‘odd-looking’, such as CNN anchors, Erin Burnett and Kasie Hunt, reports The Independent.

Hunt noted the move was ‘evocative of things that we have seen through history’ and ‘not something you typically see at American rallies’.

Others on Twitter accused Musk of making a ‘Sieg Heil’ as ‘clear as day’, while others said the move was indefensible and couldn’t have been a mistake or accident seen as as he ‘did it twice’.

However, the Anti-Defamation League, the antisemitism watchdog, has since defended Musk, writing on Twitter: “It seems that [Musk] make an awkward gesture in a moment of enthusiasm, not a Nazi salute, but again, we appreciate that people on on edge.”

Elon Musk accused of ‘Nazi salute’ during inauguration
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The statement added: “This is a delicate moment. It’s a new day and yet so many are on edge. Our politics are inflamed, and social media only adds to the anxiety.

“In this moment, all sides should give one another a bit of grace, perhaps even the benefit of the doubt, and take a breath. This is a new beginning. Let’s hope for healing and work toward unity in the months and years ahead.”

US Congresswoman, Alexandria Ocasio-Cortez snapped back to the New York-based group: “Just to be clear, you are defending a Heil Hitler salute that was performed and repeated for emphasis and clarity.

“People can officially stop listening to you as any sort of reputable source of information now. You work for them. Thank you for making that crystal clear to all.”

What has Elon Musk said about the gesture?

Now, Musk himself appears to have spoken out amid the backlash, writing in response that Ocasio-Cortex has ‘just 100 percent lost her marbles’.

Donald Trump was sworn in for his second term yesterday (Kenny Holston-Pool/Getty Images)

Donald Trump was sworn in for his second term yesterday (Kenny Holston-Pool/Getty Images)

Another user jumped to his defense, writing: “Can we please retire the calling people a Nazi thing? It didn’t work during the election, it’s not working now, it’s tired, boring, and old material, you’ve burned out its effect, people don’t feel shocked by it anymore, the wolf has been cried too many times.”

Musk responded with a ‘yeah exactly’ and a yawn emoji.

“Frankly, they need better dirty tricks,” he wrote in a follow-up. “The ‘everyone is Hitler’ attack is sooo tired.”

Musk was also the subject of social media chatter earlier in the day when Trump commented on America’s goal to send a person to Mars, during which Musk gave an enthusiastic thumbs up next to a less-than-impressed Barron Trump.

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  • Look at the look on his face. Can’t you see the “Love?” Oh, Yea…

  • It can’t be denied, he’s not being accused or appears to be doing a nazi salute… he actually did it!

    They’ll wash over it for now but it will always remain and he’ll be reminded of it for the rest of his life.

    15

  • He put his hand on his chest and than pointed to the people and than again to the flag. Meaning his love or heart goes out to the people of america.

    Why would anyone want to make a hitler greeting? Some people need to grow up.

    13

  • « Le ventre est encore fécond, d’où a surgi la bête immonde. » B Brecht

Featured Image Credit: ANGELA WEISS/Getty

Topics: Elon MuskDonald TrumpSpace XTeslaMarsPoliticsSocial MediaUS NewsAlexandria Ocasio-CortezRacism

Netflix fans are binging ‘new instant favorite’ TV series which has 97% Rotten Tomatoes score as it is finally added

Netflix fans are binging ‘new instant favorite’ TV series which has 97% Rotten Tomatoes score as it is finally added

Fans say they’re ‘hooked’ after just one episode

Ellie Kemp

Ellie Kemp

Netflix subscribers have been binge-watching an ‘instant favorite’ TV series which was scored with an impressive 97 percent by Rotten Tomatoes critics.

Some good old escapism might be in order to forget about the fact that we’re still – somehow – in January…

From an ‘outstanding 10/10’ miniseries fans have watched in a day, to a ‘hidden gem’ with an almost-perfect Rotten Tomatoes rating, the streaming platform has us covered.

But this new addition has been hailed an ‘instant favorite’ by fans who’ve been watching the TV series non-stop.

From Sex and the City and Emily in Paris creator Darren Star, the series boasts a star-studded cast including Hilary Duff, Sutton Foster, Miriam Shor, Nico Tortorella and Peter Hermann.

Sutton Foster stars in the 'instant favorite' TV series (TV Land)

Sutton Foster stars in the ‘instant favorite’ TV series (TV Land)

It follows single mom Liza (Foster) who, at 40 years old, takes some serious measures to get back into her dream line of work.

A hair restyle, new make-up look and a fresh wardrobe later, Liza’s out here convincing everyone she’s 26.

As doors which were once jammed shut begin to swing open, her life drastically transforms – and chaos ensues.

Fans have hailed the series among the best they’ve ever watched – and if you’re looking a show you can really get into, this one is made up of seven seasons.

The more the better, right!?

The series in question is called Younger, and you can watch the trailer below:

Younger Trailer
TV Land
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Alongside the 97 percent rating, Rotten Tomatoes critics said: “Darren Star’s witty writing and Sutton Foster’s charisma help elevate Younger above some of TV Land’s previous sitcoms.”

Fans echoed critics’ sentiments, as one said: “One episode in, and I’m HOOKED!”

A second said: “This might quite honestly be the best show I’ve ever watched! I didn’t know that I would find a story about someone lying about their age so Damn interesting! I just can’t stop watching…”

A third admitted: “Honestly, the only reason I watched is that Hilary Duff is a main character, totally mesmerized by the whole setting, cast, and plot.”

As the series first debuted in 2015, some fans have taken its Netflix addition as an opportunity for a re-watch.

Hilary Duff also stars in Younger (TV Land)

Hilary Duff also stars in Younger (TV Land)

One fan shared: “Instantly became my favorite show when it first aired and my love for it has only grown.”

A second added: “With clever writing, good acting and likeable characters all around, this is a show that shouldn’t be missed.”

Younger is available to stream now on Netflix.

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  • Best series i have seen in a long time could not stop watching i watched 7 seasons in 5 days i did not want it to end

  • The most enjoyable series I’ve watched in many years. Absolutely loved it!

  • Loved the show. The characters were so funny. Very entertaining hope there’s another season!

    1

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Netflix viewers rave over series which had them 'stare blankly at a wall for 20 minutes' after it finished

Netflix viewers rave over series which had them ‘stare blankly at a wall for 20 minutes’ after it finished

Nothing will ever prepare you for the ending of the series…

Poppy Bilderbeck

Poppy Bilderbeck

A Netflix series from 2021 has left viewers ‘shook for two years straight’.

If you’ve already binge-watched that ‘truly riveting’ crime series in one day like everyone else has and are looking for another Netflix hit, then there’s a British thriller which left viewers ‘messed up for hours’.

Prepare to be shook (Netflix)

Prepare to be shook (Netflix)

The psychological thriller – comprising of one season made up of six episodes – is based on the 2017 novel of the same name by Sarah Pinborough.

Created by Steve Lightfoot, the supernatural series – titled Behind Her Eyes – first premiered on Netflix in February 2021.

It centers around single mother, Louise Barnsley, who ends up embarking on an affair with her new boss, Dr David Ferguson, who also forms a friendship with his wife, Adele – if you think this is weird, just wait until you see the journey the series takes you on, there’s seriously nothing that can prepare you for some of the twists.

Behind Her Eyes stars Simona Brown, Tom Bateman, Eve Hewson and Robert Aramayo.

And even though it was first released nearly four years ago now, some Netflix viewers have only just stumbled upon it for the first time.

Steady yourself for the trailer here:

Behind Her Eyes trailer
Credit: Netflix
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Granted, the Rotten Tomatoes score for Behind Her Eyes isn’t exactly encouraging – with the series obtaining a Tomatometer percentage of 63 and average Popcornmeter score of a pretty measly 57.

However, a Netflix user took to LADbible Facebook Group Netflix Bangers, sharing a tweet which reads: “Alright tell me a movie that made you stare blankly at a wall for 20 minutes after it finished. One that you couldn’t stop thinking about and made you question everything.”

And despite it not being a movie, one user wasted no breath in responding with: “Behind Her Eyes. That ending had me shook for two years straight. All my curiosity about Astral projection ended before it even began.”

“Gosh, me too,” another responded.

You after binge-watching Behind Her Eyes (Netflix)

You after binge-watching Behind Her Eyes (Netflix)

A third commented: “When I hear someone asking me to recommend them a movie/series with the crazies plot twist this is the first series that comes to my mind.”

A fourth added: “Me too. I wasn’t expecting that ending at all (although that’s nothing unusual for me haha)! I need to rewatch it to look for the signs now.”

And a fifth resolved: “Behind Her Eyes. I was messed up for hours.”

At the time of writing, there doesn’t look like there’s any sign of an upcoming second season for Behind Her Eyes much to viewers’ dismay.

It’s probably fairly unlikely there will be another too given the first was based on the novel and the plot of the book was concluded, so viewers will simply have to try and make peace with their bewilderment and fury – not everything can be wrapped up nicely in a bow, eh?

Behind Her Eyes is available to stream on Netflix now.

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Topics: EntertainmentFilm and TVNetflix

Fans of genre sickened after realizing Netflix has cancelled almost every series within it

Fans of genre sickened after realizing Netflix has cancelled almost every series within it

Fans of a certain genre have realised Netflix has cancelled almost every show within it

Michael Slavin

Michael Slavin

Netflix fans have realised that there’s a genre they feel the streamer has been incredibly harsh to, and once it’s pointed out, it’s kinda hard to unsee.

Now, Netflix cancelling shows isn’t a new phenomenon.

Since the streamer has been around it has been fairly well known that even if it’s a pretty popular pretty well-regarded show, Netflix are ruthless when it comes to cutting the thread on a show.

Whether it be 1899, The Society, or Shadow and Bone, some deeply popular shows have gotten the axe in recent years. Various reasons have been provided for why this may be.

I personally will never forgive Netflix for cancelling The Society (Netflix)

I personally will never forgive Netflix for cancelling The Society (Netflix)

Other than the obvious ones, such as no one watching a show – there are a number of hidden metrics we don’t see when it comes to a show being cancelled.

Yes, your favourite show may have been number 1 on Netflix for a week, but how many people actually finished it? How many extra viewers are they actually getting in after two or so seasons?

These are just two of the numerous hidden metrics which Netflix doesn’t release unless they want to, and they have many.

One of the major factors of a show which appears to be influencing Netflix’s decision to cancel it though?

1899 is one of the many popular shows to have been cancelled by Netflix (Netflix)

1899 is one of the many popular shows to have been cancelled by Netflix (Netflix)

It being a fantasy show.

Now, obviously Netflix aren’t just cancelling shows purely because they’re fantasy. But when it’s pointed out quite how many on the streamer have cancelled, there has to be some logic behind it.

An account on Twitter dedicated to renewing Shadow and Bone, a Netflix fantasy TV show that adapted a popular book series, posted a graphic which showed the pure number of fantasy shows on the platform to have been cancelled.

They posted the below with the caption: “Netflix either needs to do better, or just stay away from fantasy entirely. This is just ridiculous. The fans deserve better.”

Fans were outraged once it was pointed out, as if this was the final piece of the jigsaw for them to realise what has been going on.

One account replied saying: “It’s still insane to me that they cancelled Dark Crystal. Unforgivable. They won’t even let Henson’s company take the show elsewhere. At this point the only thing that Netflix does well is documentaries.”

Dark Crystal: Age of Resistance was another show that has been cancelled by Netflix, a TV follow up to the classic 80s movie.

Dark Crystal: Age of Resistance (Netflix)

Dark Crystal: Age of Resistance (Netflix)

Another account tweeted: “The worst part about this is that they have this horrible habit of letting the first season of a show end on a cliffhanger and then cancelling it, meaning there will never be an answer to all the questions left in the story. No resolution. No real ending.”

Netflix’s CEO, Ted Sarandos, has previously said of the streamer’s strategy of cancelling shows: “We have never canceled a successful show. A lot of these shows were well-intended but talk to a very small audience on a very big budget.

“The key to it is you have to be able to talk to a small audience on a small budget and a large audience at a large budget.”

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