Netflix subscribers fall for first time in a decade, shares plunge 24%

:Global streaming giant Netflix Inc on Tuesday reported losing subscribers for the first time in more than a decade and predicted more contraction in the second quarter, a rare miss for a company that has been a reliable growth engine for investors.

Netflix, which currently has 221.6 million subscribers, last reported a loss in customers in October 2011. 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 the Walt Disney and the newly formed Warner Bros Discovery Inc and cash-flush newcomers like Apple Inc.

"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.

I was a Netflix subscriber since DVD-in-the-mail days, but dumped them a few months ago. Sick of their algorhythm continually offering the same weary ten year old movies and tv shows… for years now.

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Netflix subscribers fall for first time in decade, forecasts more lossesGlobal streaming giant Netflix Inc on Tuesday reported losing subscribers for the first time in more than a decade and predicted more contraction in the second quarter, a rare miss for a company that has been a reliable growth engine for investors.Netflix lost 200,000 subscribers in its first quarter, fal
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