The association shows that Netflix needs technological support to develop tools such as advertising programming that uses user information to give you advertisements specific to your interests. In that sense, the company marked: “We are still starting and we still have a lot to do, but our long-term goal is clear. More options for consumers and one premium experience for businesses who want to sell their products.
Netflix’s losses in 2022
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Since the announcement of the results of the first quarter that Netflix lost 70% of its stock value and is undergoing a restructuring process that began in May, with another 150 layoffs. The cuts represent 3% of the Netflix workforce and cover areas of various functions in the company, which are concentrated in the United States, reported the specialized Hollywood sites. Some 216 of the layoffs were in the United States, 30 in Asia Pacific countries, 53 in Europe, the Middle East and Africa and 17 in Latin America.
As the company tries to adjust to its new and weakened stock position, CEO Reed Hastings and Ted Sarandos told their employees in an internal memo that “the two rounds of layoffs were very tough on everyone and created a lot of anxiety and uncertainty.but we plan to return to a normal course of business going forward.” A company spokesperson said that “while Netflix continues to invest significantly in the business, adjusts so its costs are in line with its declining profits.
After years of comfort at the forefront of the movie and series streaming business, Netflix finally gives up its absolute leadership in that area after new competitors such as Disney +, Paramount +, Peacock and HBO Max are accommodated in consumer options, which disputed the rights of its own content to the company to take it to its own platforms and weakened its catalog of films. Netflix anywayplans to aggressively invest some $17 billion in 2022 to produce movies, series and original content.
Source: Ambito
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