Entertainment Gists
Netflix Suffers First Subscriber Loss in A Decade
Wall Street sent Netflix’s stock tumbling 26 percent after market hours, erasing about $40bn of market value.
Netflix Inc says inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted deeper losses ahead, marking an abrupt shift in fortune for a streaming company that has thrived during the pandemic.
The company said it lost 200,000 subscribers in its first quarter, falling well short of its forecast of adding 2.5 million subscribers. Suspending service in Russia after the Ukraine invasion took a toll, resulting in the loss of 700,000 members.
Wall Street sent Netflix’s stock tumbling 26 percent after the bell on Tuesday and erased about $40bn of its stock market value. Since it warned in January of weak subscriber growth, the company has lost nearly half of its value.
The lagging subscriber growth is prompting Netflix to contemplate offering a lower-priced version of the service with advertising, citing the success of similar offerings from rivals HBO Max and Disney+.
“Those who have followed Netflix know that I’ve been against the complexity of advertising, and a big fan of the simplicity of subscription,” said Netflix CEO Reed Hastings. “But, as much as I’m a fan of that, I’m a bigger fan of consumer choice.”
Netflix offered a gloomy prediction for the spring quarter, forecasting it would lose 2 million subscribers, despite the return of such hotly anticipated series as Stranger Things and Ozark and the debut of the film The Grey Man, starring Chris Evans and Ryan Gosling. Wall Street targeted 227 million for the second quarter, according to Refinitiv data.
The downdraft caught other video streaming-related stocks, with Roku dropping more than 6 percent, Walt Disney falling 5 percent and Warner Bros Discovery down 3.5 percent.
Hastings told investors that the pandemic had “created a lot of noise”, making it difficult for the company to interpret the surge and ebb of its subscription business over the last two years. Now, it appears the culprit is a combination of competition and the number of accounts sharing passwords, making it harder to grow.
“When we were growing fast, it wasn’t a high priority to work on,” Hastings said of account-sharing in remarks during Netflix’s investor video. “And now we’re working super hard on it.”
Confluence of events
Netflix’s first-quarter revenue grew 10 percent to $7.87bn, slightly below Wall Street’s forecasts. It reported per-share net earnings of $3.53, beating the Wall Street consensus of $2.89.
While the company remains bullish on the future of streaming, it blamed its slowing growth on a number of factors, such as the rate at which consumers adopt on-demand services, a growing number of competitors and a sluggish economy.
Account-sharing is a longstanding practice, though Netflix is exploring ways to derive revenue from the 100 million households watching Netflix through shared accounts, including 30 million in the United States and Canada.
This confluence of factors resulted in Netflix reporting losing customers for the first time since October 2011, catching Wall Street by surprise.
“They suffered from a combination of approaching saturation, inflation, higher pricing, the war in Ukraine and competition,” said Wedbush analyst Michael Pachter. “I don’t think any of us expected that all to happen at once.”
The world’s dominant streaming service was expected to report slowing growth, amid intense competition from established rivals like Amazon.com, traditional media companies such as Walt Disney and the newly formed Warner Bros Discovery and cash-flush newcomers like Apple Inc.
Streaming services spent $50bn on new content last year, in a bid to attract or retain subscribers, according to researcher Ampere Analysis. That’s a 50 percent increase from 2019, when many of the newer streaming services launched, signalling the quick escalation of the so-called “streaming wars”.
Netflix noted that despite the intensifying competition, its share of TV viewing in the US has held steady according to Nielsen, a mark of subscriber satisfaction and retention.
As growth slows in mature markets like the US, Netflix is increasingly focused on other parts of the world and investing in local-language content.
“While hundreds of millions of homes pay for Netflix, well over half of the world’s broadband homes don’t yet – representing huge future growth potential,” the company said in a statement.
Benchmark analyst Matthew Harrigan warned that the uncertain global economy “is apt to emerge as an albatross” for member growth and Netflix’s ability to continue raising prices as competition intensifies.
New competition
Streaming services are not the only form of entertainment vying for consumers’ time. The latest Digital Media Trends survey from Deloitte, released in late March, revealed that Generation Z, those consumers ages 14 to 25, spend more time playing games than watching movies or television series at home or even listening to music.
The majority of Gen Z and Millennial consumers polled said they spend more time watching user-created videos like those on TikTok and YouTube than watching films or shows on a streaming service.
One market observer said Netflix’s stock has benefitted from expectations of perpetual growth.
“Today’s report shows that there is a limit to that long-term bullish thesis,” said David Keller, chief market strategist at StockCharts.com.
RUAN-Badkid.96 is a Nigerian recording artist whose music refuses to live inside a single genre. Blending Afrobeat, Afrofusion, trap, hip-hop, melodic rap, R&B, and global influences, he creates records that move effortlessly between raw street energy, soulful storytelling, and infectious melodies. Whether delivering hard-hitting bars, emotional love songs, or rhythm-driven African records, his sound is defined by authenticity rather than limitation.
Inspired by both African culture and international music, RUAN-Badkid.96 embraces the confidence and ambition of global hip-hop while staying deeply connected to his roots. His lyrics explore love, heartbreak, betrayal, friendship, social injustice, hope, and the everyday realities of life. He doesn’t create music to follow trends, he creates music to reflect truth, emotion, and human experience.
Behind his fearless image is an artist who believes in kindness, equality, justice, and genuine human connection. His appearance may be intimidating, but his message is rooted in compassion and authenticity. Every record carries a piece of his journey, proving that strength and vulnerability can exist in the same voice.
For RUAN-Badkid.96, music is more than entertainment, it’s a language, a testimony, and a lifelong mission to connect with people through honesty, versatility, and unforgettable sound.
Entertainment Gists
Meet the Man Who Turned Hype Into a Science: Emmy Blaq, Nigeria’s G.O.A.T. of Hype
If you have ever been at a Nigerian event and found yourself on your feet before the main act even stepped on stage, there is a good chance a hype man was responsible. But not just any hype man. Emmy Blaq, born Ikechukwu Emmanuel Chima and raised in Auchi, Edo State, has spent the last few years quietly becoming the most talked-about name in that profession, and the Nigerian press has taken notice. Punch, Vanguard, The Guardian Nigeria, The Nation, and Independent Newspaper have all sat down with him, and every conversation leads back to the same thing: this man does not just make noise; he makes moments.
What makes Emmy Blaq different is the journey behind the energy. Before the stages, the collaborations with Waje on her “Waje 2.0” album, DJ Consequence, and DJ Kaywise on the massively streamed “Joor Party Mix” series, he was repairing generators, cutting hair, and sewing clothes in Auchi. His first professional hype gig happened at a local fast food spot called Valchi, and the crowd response that night changed everything. He told The Nation directly: “My passion for entertainment and desire to make people happy led me into the craft.” Punch also captured his bigger mission when he said that hype men deserve more than what they currently earn, a statement that sparked a real conversation across Nigerian entertainment circles.
With over 1.7 million TikTok followers, 23.6 million TikTok likes, a viral “Wife Material” challenge that landed on Pulse Nigeria’s top ten social media moments of 2021, and an international performance at the Cameroon International Music Festival that Cameroonian media described as electrifying, Emmy Blaq is not building toward something. He is already there. The G.O.A.T. of Hype is not a title he gave himself and hoped would stick. It is one the rooms keep confirming every single time he grabs the mic.
MANAGER PROFILE
Uncle Wisdom is a Lagos-based music executive and visionary leader known for blending structure, strategy, and creativity in artist management. With a background in Mathematics and Statistics from UNICROSS formerly, Cross River University Of Technology. He brings analytical precision into talent development, positioning artists for both creative excellence and commercial success.
CAREER JOURNEY
Began his career in 2017 as an event coordinator for Eksu Olofofo, where he gained foundational experience in live events and audience engagement. By 2018, he transitioned into full-time artist management, driven by a clear goal to build a more structured and results-oriented system within the music industry.
In 2019, Started working as a road manager for Barry Jhay, gaining hands-on experience in touring, logistics, and artist operations, a refined career and mental awareness coach . He was also instrumental behind Barry Jhay’s 2025 sold-out homecoming concert, a key moment that fueled momentum for a successful UK tour, including sold-out shows in London and Birmingham.
PHLOX MGMT
Founded from the ground up, Phlox Mgmt is a forward-thinking management company focused on Career coaching, A&R, artist development, and strategic positioning. The company is built on a clear philosophy:
Develop the sound. Define the brand. Position the artist to win.
Phlox Mgmt has connections with @Roadgod_of Roadgod Agency and connects artists with top-tier producers, engineers, and creatives, ensuring a refined sound and strong market presence. The company continues to grow as a trusted platform for emerging and established talent.
INDUSTRY NETWORK & COLLABORATIONS
Uncle Wisdom has built valuable relationships across the industry, working with and alongside talents such as:
Barry Jhay • Asake • Ceeza Milli • Berri Tiga • Laime • Spellz • and many others
LEADERSHIP APPROACH
John Wisdom operates with a long-term vision, focusing on structure, consistency, and execution. His approach goes beyond traditional management he builds systems around artists that support sustainable growth, strong branding, and global competitiveness.
CONTACT & SOCIALS
Instagram & X: @Johnwisdm @phlox_mgmt
TikTok: @unclewisdom7
Email: phloxentertainment@gmail.com
Phone: 08038448478 | 09015668027
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