CasualInvestor commented on a stock · Apr 20, 2022 17:09

What’s next for Netflix

News Netflix
Netflix rocked by subscriber loss, may offer cheaper ad-supported plans

Netflix said inflation, the war in Ukraine and fierce competition contributed to a loss of subscribers for the first time in more than a decade and predicted more contraction ahead, marking an abrupt shift in fortune for a streaming company that thrived during the pandemic.

Netflix's 26 per cent tumble after the bell on Tuesday (Apr 19) erased about US$40 billion of its stock market value. Since it warned in January of weak subscriber growth, the company has lost nearly half of its value.

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