Netflix shares crater 25% after company reports it lost subscribers for the first time in more than 10 years

Netflix is forecasting a global paid subscriber loss of 2 million for the second quarter. The last time Netflix lost subscribers was October 2011.letter to shareholders Tuesday.

"Streaming is winning over linear, as we predicted, and Netflix titles are very popular globally. However, our relatively high household penetration — when including the large number of households sharing accounts — combined with competition, is creating revenue growth headwinds." Netflix previously told shareholders it expected to add 2.5 million net subscribers during the first quarter. Analysts had predicted that number would be closer to 2.7 million. During the same period a year ago, Netflix added 3.98 million paid users.in a bid to bring in new subscribers after years of resisting advertisements on the platform.$2.89, according to a Refinitiv survey of analysts.

Netflix also cited growing competition from recent streaming launches by traditional entertainment companies, as well as rampant password sharing for the recent stall in paid subscriptions. The company estimates that in addition to its 222 million paying households, access is being shared with

CNBC How many did they gain during the pandemic? This seems like a natural correction.

CNBC 1. They continue raising prices. 2. They continue canceling shows people love. 3. They continue renewing trash people hate. Gee, I wonder what the problem is?! 🙄 netflix Netflix

CNBC I pay for Netflix and hardly watch anything there. Don't like the way they arrange their Menu. At least they can inform viewers if movie is English, French etc. Not rocket science. Amazon layout is better, and good fresh content.

CNBC New movies and TV shows go to die on Netflix and Disney they both suck!!

CNBC The programming is pure shite, all I watch anymore are documentaries.

CNBC there's been nothing new or good on Netflix for months , only thing new recently was a $1 buck a month increase for subscribers .

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Netflix stocks plunge 25% after streaming service loses 200K customersDrop stems partly from company's decision to suspend service in Russia to protest war in Ukraine, but deeper problems exist. Maybe if they start showing more movies again DBChirpy It’s the Russia loss wbz They raised their prices.
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