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The Growth of Netflix
Posted
April 18, 2024
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1,206
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April 18, 2024
1,206
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2:59Now PlayingNetflix out with this latest quarterly earnings report. So fitting to look back at a major turning point for the company back in 2007. It was on this day back then when the company posted the highest first quarter profit in its thin eight year history. Investors, they weren't impressed. Similar to today, the stock plunged more than 9%, largely because the report also showed Netflix had trouble attracting and retaining subscribers amid stiffer competition from Blockbuster. Yeah, Blockbuster, the brick and mortar rental chain was going all in on a Netflix killer called Total Access that let customers order DVDs by mail, but then return them to the physical stores.
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