✔️ REVIEWS News – Paris/France.
Netflix saw its subscriber base plummet for the first time in more than a decade, sending the stock plummeting. After the market closes, the supplier of Streaming announced a loss of 200 subscribers for the first quarter. Netflix had predicted 000 million new customers.
In the current quarter, Netflix expects a drop of two million subscribers. Among other things, the company blamed the withdrawal from the Russian market, where all customer accounts were disabled due to the war of aggression against Ukraine, for the low numbers. In addition, the American group refers to a large number of households that have shared their subscription. Netflix shares fell 24% in after-hours trading. Other services of Streaming also fell in their wake, like Disney with a minus three percent.
Netflix lost its last customers in 2011
Netflix currently has 221,6 million subscribers – and so far the trend is on the rise. The company last reported a decline in subscriptions in October 2011. First-quarter revenue rose 10% to $7,9 billion, not as strong as expected. Earnings per share were $3,53.
Netflix had already surprised investors with a gloomy outlook after the fourth quarter of the past fiscal year. Since then, the stock is down about a third in regular trading through Tuesday and more than half since November's high of around $700.
Even before the release of the new revenue figures, analysts predicted a difficult year for Netflix. Competitors like Disney+ are expanding their offerings. Additionally, the provider Streaming competes with video websites such as Youtube and Tiktok and other entertainment offerings. According to a Deloitte study on digital media trends published in March, consumers aged 14 to 25 spend more time playing games. video games than watching movies, TV series or even listening to music.
SOURCE: Reviews News
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