Netflix Loses 200,000 Subscribers And Sees Shares Fall By A Quarter
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Netflix has experienced its first loss in subscriber numbers in more than 10 years, sparking fears that the ground-breaking streaming service has peaked.
The American firm’s customer base lost 200,000 subscribers between January and March, stated its quarterly report released yesterday (Tuesday). Its release caused shares to plunge by a quarter (25 per cent) in trading, marking the first time that subscriber numbers had dropped since the streaming service became available globally six years ago.
There were concerns that matters might get worse after Netflix projected a loss of another two million subscribers during the period between April and June. It could mean that shares in Netflix may have lost half their value in the space of half a year.
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