TCTTS said:
Because for 14 of those years Netflix treated money like it wasn't real or grew on trees, and basically every other streamer followed suit. But then all the sudden reality caught up with them, Netflix had one bad quarter where they didn't meet subscriber growth projections, Wall Street freaked out, and the entire house of cards fell down for all of streaming. Now it's all about tangible profit, not subscriber growth, which is why you're seeing *every* streamer going through this exact same thing… finding any way they can to cut costs, make fewer shows and movies, sell off content, fire employees, etc.
And you are seeing this across multiple industries. For the last several years, companies cared about revenue because of a variety of factors. Now that the SHTF they suddenly care about profits. I ran a division at my old company and anytime I tried to incorporate profitably metrics or make decisions even with profitability considered...I got stonewalled by the C-Suite. They just wanted to see revenue growth.
In talking with my former co-workers, they have incorporated all of the dashboard stuff I built that was on the shelf because C-Suite now cares about profits. This amuses me.
It also reminds me of the time I got my hands on marketing and realizing how utterly pointless and useless marketing metrics are. Click through rates, impressions, etc. It's all bullsh^t and means nothing. None of it can be tied to revenue for the vast majority of companies. I killed almost all of our social marketing spend because it produced literally nothing in revenue. We were just spending money because "that's what you do". Lol.
Another point....I've never been a fan of the business mentality of growing at all costs or if you aren't growing then you are dying. While there is some truth to that, I dispute it being such an emphasis for most companies.
