Netflix shares are on track for the worst one-day decline in a decade, going for the worst one-day percentage drop in a decade.
The business was healthy overall. Retention was strong. On the earnings call, we just didn't grow acquisition quite as fast as we would have liked to see, said Spencer Neumann, chief financial officer.
CEO Reed Hastings said he and his team are trying to figure out that out.
There are a number of possible explanations for COVID, but then we worry about hanging too much on that. We've had Amazon and Hulu for 14 years. It's all about entertainment and confidence in streaming. The linear dissipates over the next 10 to 20 years. There's very high confidence in that thesis because everyone is coming into streaming. The market size is very large. Our execution is steady and getting better. We're just like staying calm and trying to figure out, he said.
Season 2 of Bridgerton and The Adam Project will debut in March.