The streaming service’s stumble could also show that the fight for everyone’s attention is going to be much tougher in future
In the early 1930s, when Claud Cockburn worked on the Times, the subeditors had a competition to see who could compose the dullest headline. Cockburn claimed that he won with “Small earthquake in Chile. Not many dead”. Alas, subsequent factcheckers have failed to unearth such a headline in the archives, but it came to mind last week when Netflix announced, in a quarterly earnings report, that for the first time in a decade it had lost subscribers – 200,000 of them, to be exact. In North America, it had lost 640,000 and suffered additional losses in every other region except for Asia-Pacific area, where it added a million.
This didn’t seem very interesting to this columnist, especially as it included the period when Netflix had pulled out of Russia, where it had 700,000 subscribers, which to my mind meant that the reported loss would have been a gain of half a million had Putin not invaded Ukraine.
