Is this the end of an era for NETFLIX?
Is there anyone on this planet, who hasn't heard about Netflix? yes, my grandmother.
Netflix is a multi-media company, delivering the best quality content (if I say so myself) to its 200million subscribers.
Netflix has grown amongst us GEN-Z and millennials; we have even made it a cultural phrase, “Netflix and chill,” which isn't exactly literal.
“you gerrit? if you don't gerrit forget about it” so could this be the end of an era? usually, I am not the one to jump on negative bandwagon press (especially not for a company that inspired me) but this one is a “banger” packed full of PR and branding mistakes, it most certainly will make a case study “the things you should never do when starting a business” lmao. so what is the tea?
After Netflix stocks plummeted by 35% in a single day, how do they re-strategize? by doing something that will blow our minds literally
1. Netflix's CEO hinted its management is considering introducing advertising into the platform. “wait what?” this is clearly in conflict with their brand values. imagine watching Netflix and in-between the professor, trying to bribe lady whistledown, an AD pops up!! did you scream?. isn't Netflix built on a promise that they will focus on the customer's experience? why are they forcing advertising on us? especially when we have a lot of options to stream from (cries in hulu)
2. Netflix publicly announced a “password crackdown” due to 100 million consumers sharing logins with other people. so Netflix is telling you, password sharers, to “Get your damn account’’… However, making your customer the enemy is a terrible PR campaign, as this will make faithful and loyal “fans” (cause Netflix said you are not a customer) feel alienated
3. Netflix seems to be reacting poorly to pressure from current financial challenges globally, as it is becoming more evident that these decisions are driven primarily by their topline, "REVENUE,” not by the “experience” as promised, thus breaking their brand promise
4. Netflix being in the headlines worldwide for “crackdowns” and “revenue” is terrible PR, and I say this from a PR standpoint (sips champagne).
it is moving away from its primary brand voice as a brand; Netflix built their brand, positioning it on consumer “experience” and “entertainment” something they have become obtuse to. reminds me of an episode in Dynasty re-run where blake Carrington puts profit above family, except, in this case, Netflix is putting financials above customers' interests
5. Reed Hastings says NETFLIX was founded on being innovative and customer-focused (which was true), but I assure you, the feeling is beginning to shift. People no longer see Netflix as that brave, innovative, caring, and courageous baby. Thanks to Hulu, Disney+, and every other streaming competition (indirectly inserts TIK-TOK), it seems Netflix is adjusting its core by being “money-hungry” and putting its shareholders above account holders (who doesn't like money?? I want to make a lot of it, tho.
6. we live in a cultural moment, every action needs to be properly rolled out and not come off as insensitive. Netflix reported they will issue fines (sounds like judge Judy) to accounts in Chili, Peru and costa-Rica that are sharing login details. specifically targeting these accounts outside America first before the global rollout, can be seen as culturally insensitive, rude, racist and unfair (thank the lord, Africa isn't involved). cultural respect is very important in this post-corona year. (eeerm have you noticed? “era” is coined from “year?”)
Netflix conflicting with their own values, blaming customers for their financial struggles, reacting to pressure, having a self-centric messaging, ceasing to innovate and being culturally insensitive is detrimental. someone needs to remind them of what happened with “BLOCKBUSTER” seems they need an epiphany.
So tell me, what do you think about Netflix?
