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Netflix Suffers Devastating Blow After Teaming Up With Obama – Here’s What Subscribers Just Did

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After a number of controversies and sever missteps, including the announcement of a partnership with former President Barack Obama as a content provider, and promoting pedophilia in a children’s cartoon Netflix is suddenly facing a problem it didn’t expect just a few short months ago. A lot fewer subscribers!

The extremely popular streaming service announced that it added only 5 million new subscribers over the past three months. That sounds like a huge number, but experts actually predicted Netflix would gain at least a million more subscribers than that. This is the first time the company has failed to not exceed expectation, and the news caused concern on Wall Street, especially after getting news that subscribers were ditching the company over its liberal agenda.

After this news, Netflix stocks dropped 14% in after-hours trading. This translates into billions in market share losses.

Trending: Tom Arnold Threatened To Cut Off Trump’s Head – Realizes Big Mistake Too Late

Here is more on this via Reuters:

“Netflix Inc’s subscriber growth fell short of Wall Street expectations on Monday, sending shares of the normally high-flying stock down 14 percent on fears that the company’s rapid expansion is slowing.

The streaming video pioneer added 5.2 million customers from April through June, 1 million fewer than forecasts from Thomson Reuters I/B/E/S, as it added new programming including “Lost in Space” and new episodes of Marvel’s “Jessica Jones” and “13 Reasons Why.”

“We had a strong but not stellar Q2,” Netflix said in a quarterly letter to shareholders.

Netflix said it had “over-forecasted” quarterly fluctuations in the pace of new customers. The company noted that it had underestimated subscribers for seven of the past 10 quarters.

Before the earnings report, Netflix shares had gained 109 percent, making it the second-strongest performer on the S&P 500 index. In after-hours trading on Monday, Netflix shares sunk 14 percent to $343.60, eroding $24.2 billion in market capitalization and down from an earlier close of $400.48.

“Investors are devastated by Netflix’s Q2 projection that went down in dramatic flames. Now future projections are suspect and that decimates valuation,” said Eric Schiffer, chief executive officer of private equity firm Patriarch.

Wall Street had been betting that Netflix would deliver outsized growth as demand for online entertainment increases around the globe. The company is spending heavily to hook new customers, budgeting $8 billion for programming and $2 billion for marketing in 2018.

Netflix added 670,000 subscribers in the United States, well below analysts’ estimates of 1.19 million, according to Thomson Reuters I/B/E/S.

It signed up 4.47 million subscribers internationally, while analysts were expecting 4.97 million.

The overly optimistic projections were “pretty broad across multiple markets,” Chief Financial Officer David Wells said on a post-earnings webcast.

Executives voiced confidence about the long-term health of the streaming service. Chief Executive Reed Hastings said median viewing hours were growing, though he did not provide specifics.

“The fundamentals have never been stronger,” Hastings said.

Forrester analyst James McQuivey said he believed that the quarterly results were “not a sign of softening in the business overall.”

“These are still millions of new subscribers, even if they didn’t meet the expectations that might have been set by the last two quarters, which were extraordinarily high,” he said.

Earnings per share came in at 85 cents, beating analyst forecasts of 79 cents. Total revenue rose 40.2 percent to $3.91 billion. Analysts had expected revenue of $3.94 billion.

For the current quarter, Netflix projected it would add 5 million customers. It is making a big push in India. Earlier this month, it debuted its first Indian original series, “Sacred Games,” part of a slate of new shows aimed at the vast Bollywood entertainment market.

Netflix said operating margins would be narrower than previously expected because of the rapid strengthening of the U.S. dollar, which appreciated by more than 5 percent against major trading partners’ currencies in the second quarter. While most of the company’s revenue growth comes from international markets, the vast majority of its costs remain dollar-denominated.

Hastings said the company would make adjustments to account for foreign exchange rates in order to “steadily” increase operating margins.

At the same time, Netflix faces growing competition.

Amazon.com Inc plans to add more regional content in India as it builds the Prime video service around the world. Apple Inc is pouring money into original programming, signing up A-list names including Oprah Winfrey. And AT&T Inc has promised to boost investment in HBO after taking over the network in its Time Warner acquisition.

Meanwhile, cable distributors are offering smaller and cheaper bundles of channels.

In the letter to shareholders, Netflix said it expected more competition from international players including ProSiebenSat 1 Media in Germany and on-demand service Salto in France.

“Our strategy is to simply keep improving,” Netflix said.”

Although the exact cause of the lower numbers isn’t fully known one can’t help but notice that this happened right after the many actions by Netflix that have outraged the political right in this country. Let’s not forget that earlier this year, Netflix announced a partnership with former President Barack Hussein Obama to produce new content for the company. Later came the so-called comedienne Michelle Wolf, who has a new show on Netflix and who personally trashed White House Press Secretary Sarah Sanders looks at the Washington Press Correspondent’s Dinner and later even refused to apologize. Later her show featured a “Salute to Abortion,” celebrating it with a parade-like performance to protest the appointment of Supreme Court Justice Brett Cavenaugh.

It hasn’t only been recently that Netflix took a sharp turn to the left. Last year they premiered a new show, “Dear White People,” which targeted white people as the cause of America’s racial strife and most of the world’s problems.

The controversies have caused many subscribers, myself being one of them, to cancel in protest. And new subscribers may have also decided to stay away in protest.

Someday pop culture will understand how much they need middle America’s hard earned dollars, but till that day comes, we will enjoy seeing media companies fail as they try to cater to Sodom and Gomorrah.

 

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After Mexico Refuses To Stop Migrant Invader Mob, Trump Swings Presidential Hammer Of Justice

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Stop The Facebook Purge of Triple Amputee War Hero’s Pages! He Gave 3 Limbs For our Rights And they Stole It All From Him! Help this Hero Take it To Congress –> Fight4FreeSpeech!

This is a paid invasion army. It’s time to close the border immediately. I hope President Trump does so.

When you look at this illegal invasion.. you can clearly see most are men. Not women or children. Let’s hope they stop this in time.

From Zero Hedge:

Since President Trump threatened to close the Southern border due to Honduras’ unwillingness to comply with his requests for assistance in stopping a migrant caravan marching toward the US, the migrants have successfully crossed into Mexico and on Sunday regrouped after being temporarily delayed at the Mexican border by border guards who failed to force the migrants to turn back.

So, for the second time this year, it appears President Trump is ready to send more US troops to the border, as he said in a tweet Monday morning that he’d notified the border patrol and military that this is a “national emergency” while reiterating that the blame lay with Democrats for refusing to change our “pathetic” immigration laws.

The president also claimed that “unknown Middle Easterners” had become “mixed in” with the caravan.

And since Honduras and Guatemala did nothing to stop the migrants despite Trump’s requests for assistance, the president added that we would be cutting off aid: “We will now begin cutting off, or substantially reducing, the massive foreign aid routinely given to them.”

The backlash to the migrants has intensified over the weekend, as the mile-long caravan has continued unimpeded toward the US’s southern border. Amusingly, liberals bullied the Associated Press on Sunday into correcting one of its headlines after the wire service described the caravan as an “army of migrants”.

“A ragged, growing army of migrants resumes march toward US,” read the original headline on the AP story. The AP later changed the headline to replace the word “army” with “caravan.”

Though the AP has used the word “army” to refer to large groups of people besides migrants – including nurses and political activists – many on the political left criticized the wire service for its original headline.

Meanwhile, videos have emerged of people handing out cash to the migrants, raising suspicions that the caravan has received outside funding for its assault on the southern border.

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Congress Officially Filing Impeachment Charges Against Anti-Trump Politician – Then Unthinkable Happens

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President Trump is the Deep State’s biggest enemy. While Trump may be quite alone in his quest to “drain the swamp,” he does have some allies on the Hill.

Members of the Freedom Caucus have been assisting Trump in his battle with Mueller & his band of Democrats in charge of the witch hunt that after two years has produced zero evidence of Russian collusion.

Stop The Facebook Purge of Triple Amputee War Hero’s Pages! He Gave 3 Limbs For our Rights And they Stole It All From Him! Help this Hero Take it To Congress –> Fight4FreeSpeech!

A few months ago, Freedom Caucus leaders Mark Meadows and Jim Jordan filed impeachment charges against Deputy U.S. Attorney General Rod Rosenstein. The reason for the filing was because Rosenstein hadn’t handed over enough documents that had been asked for.

In July Vox reported:

“Hardline conservatives have backed down from a threat to imminently force a House vote on impeaching Deputy Attorney General Rod Rosenstein.

On Wednesday night, Freedom Caucus leaders Reps. Mark Meadows (R-NC) and Jim Jordan (R-OH) filed articles of impeachment against Rosenstein. The stated reason was mainly that Rosenstein allegedly wasn’t giving enough documents to Congress. But in context, the move — which wasn’t even certain to pass the House, let alone lead to Rosenstein’s removal from office — was clearly part of an effort by President Trump’s allies to attack the Justice Department and undermine special counsel Robert Mueller’s investigation, which Rosenstein supervises.

When Meadows filed the impeachment articles, only 11 of the 236 Republicans in the House were willing to sign on to them, making it unclear how much support his effort had. House Oversight Committee Chair Trey Gowdy, for instance, had said earlier that he wouldn’t back the effort (“Impeach him for what?” he asked). GOP leaders were also unenthusiastic about the controversial push, which would likely divide their party.

However, Meadows had the opportunity to use House rules to file a “privileged motion,” which would require a vote from the full House in the next two days — effectively forcing his colleagues to take a stand on impeaching Rosenstein even though there have been no hearings on the matter and little debate about it. Republicans facing tough races in November would not have been thrilled.

In the end, however, Meadows decided not to carry out that threat — for now, at least. He did not file a privileged motion for impeachment, and House Republicans announced Thursday morning that they would not vote on the matter before they leave for a month-long recess.

It is possible the effort could be revived in September when the House returns to Washington. But that would be closer to the midterms, meaning Republicans would be even less enthusiastic to take a divisive and controversial vote.

The current word is that Republican leaders agreed to hold a vote on whether Rosenstein is in contempt of Congress in the first week of September, if conservatives don’t get the documents they want by then. (That’s a weaker alternative to an impeachment vote, which at least had the potential to remove him from office.)

After conservatives had agreed to back down from the impeachment push, Speaker Paul Ryan announced publicly that he did not support impeaching Rosenstein. “I don’t think that this rises to the level of high crimes and misdemeanors,” he said.

Meanwhile, word leaked out that Jordan, who co-wrote the impeachment articles, will soon announce that he’s running to replace the retiring Ryan as speaker.”

Now, this could be seen as bad news in the fight against the Deep State, but there is a little hope.

Last month, leaked audio of Rep. Devin Nunes seemed to indicate that Rosenstein could be impeached at a later date. The timing was wrong for it.

USA Today reported:

“Leaked audio of Rep. Devin Nunes, R-Calif., speaking at a Republican dinner fundraiser made public Thursday evening shows the congressman addressing why Deputy Attorney General Rod Rosenstein hasn’t been impeached and saying that Republicans could be the only force stopping President Donald Trump from being impeached.

The audio, obtained exclusively by MSNBC, is of Nunes talking at a dinner event in Spokane, Washington, on July 30. He is asked by an audience member about the effort to impeach Rosenstein, which was only publicly supported by a small group of Republicans.

Nunes, who heads the House Intelligence Committee, seems to explain the main reason Congress hasn’t taken up the issue is due to timing and the upcoming midterm elections.

“It’s a bit complicated,” he told the audience member. “We only have so many months left.”

“So if we actually vote to impeach, OK, what that does is that triggers the Senate then has to take it up,” he said, explaining that it could take away from other priorities of Congress.

He said everything would have to be dropped if impeachment was up for a vote. “So it’s not a matter that any of us like Rosenstein. It’s a matter of, it’s a matter of timing.”

“Do you want them to drop everything and not confirm the Supreme Court justice, the new Supreme Court justice?” he added.

Later, he talks about the midterms and the sincere need to keep a Republican majority in both the House and Senate, something Democrats are hoping to clinch. Nunes details one big reason Republicans are needed: to protect Trump.”

Here’s the audio of Nunes.

Let’s hope Republicans in the House follow through & do their part to drain the swamp & get rid of those who are biased against Trump.

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