Netflix is looking for its subscribers’ wallets.
In a recent update to his famous culture surface, the broadcasting giant is telling employees to be more financially responsible. “Spend our members’ money wisely,” the memo says. to rule section under Valuable behaviours.
Netflix is set to spend $20 billion in 2022.
Netflix is keeping an eye on its spending after a massive drop in subscribers. In April, Netflix experienced its first loss of subscribers in more than a decade, causing shares to drop 25%. The platform claimed that password-sharing was partly to blame, much to the chagrin of users.
To make up for the loss, Netflix is said to be looking into an ad-supported category that may come at the end of the year.
Meanwhile, practicality may be welcomed by members. After all, Netflix hit its users with price increases again in january. This move costs customers anywhere between an additional $1 to $2, depending on the plan.
Another change in the memo directly affects the employees and the company’s mission of the “dream team”. Managers will enact a “guardian test” for each member of their team.
“If a team member is leaving for a similar job at another company, will the manager try to keep it?” Deck order. “Those who didn’t pass the guard test (i.e. their manager wouldn’t fight to keep them) get a generous severance package so we can find someone better for the job – making for an even better dream team.”
Despite the changes made to Netflix, it is still the number one streaming platform service.
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