Netflix Stocks Drop After Critics Weigh in on Arrested Development's Fourth Season
Netflix’s stock took a 6 percent drop after critics reacted to Netflix’s revival of Arrested Development, The New York Daily News reported.
Although it’s been reported that Netflix has seen huge jumps in viewership since the release of the show’s fourth season on Sunday, the critical reception has been a bit bleak. Many remarked the show has lost its quick-wit, citing episodes as tedious, bloated and hard to watch.
While IDC analyst Greg Ireland said this could be an “overreaction,” it’s certainly disconcerting to see a large dip in stocks immediately following what was supposed to be the company’s biggest acquisition.
Netflix’s high hopes shouldn’t be squashed just yet. Viewers still seem to be consumed by the new content. Nearly 10 percent of viewers binge-watched the entire season on Sunday, and the company has predicted that Arrested Development could add nearly 880,000 new subscribers by June.
Whether Arrested Development will prove to be a fruitful acquisition for Netflix won’t be seen until July, when the company will release the number of subscribers from April-June. But for better or worse, there’s always money in the banana stand.
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