Are you still watching? Netflix's 35% share plunge wipes out R800bn in market value | Fin24

The streaming service lost 200,000 customers in the first quarter, the first time it has shed subscribers since 2011.

Netflix closed at $226.19 in New York, extending its plunge this year to 62% - making it the worst performing stock in the S&P 500 and the tech-heavy Nasdaq 100 indexes. Netflix has a 0.8% weighting on the Nasdaq 100 and 0.3% on the S&P 500. The shares posted their biggest drop since October 2004. The drop in customers has led Netflix to break some of its long-standing rules: it will introduce a cheaper, advertising-supported option for subscribers in the next couple years and will start to crack down on people sharing their passwords even before that.

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