September 25, 2022

Wire Service Canada

Complete Canadian News World

Netflix loses subscribers, this is the first time since 2011. Title drops: – 22.5% on Wall Street

Netflix lost 200,000 subscribers in the first quarter. For the first time in ten years years That broadcast giant is accusing someone Lost of subscriptions. The number surprises analysts and disappoints expectations. Under market estimates also i RevenuesWhich grew 10% to 7.87 billion dollars. Profits fell to 1.6 billion from 1.71 billion in the same period a year earlier. Dumping the headline: In the after-hours exchanges on Wall Street, shares of the global broadcasting giant come loses 22.5%.

there resolution In early March to suspend service in Russia after the invasion Ukraine It resulted in the loss of 700,000 subscribers. Netflix, which currently has 221.6 million subscribers, reported its last customer loss in October 2011. The streaming giant explained that the decline was primarily related to difficulty to acquire new Participants In all regions of the world, but also to suspend service in Russia. industry pioneer did full subscribers during the covid-19 pandemic. The market was expecting one revisionbut not that strong.
The total number of subscriptions is much worse than management’s forecast, which assumed a growth of 2.5 million. The drop will also be linked to competition from rival platforms, starting with Disney Plus and Apple. there a program The popular broadcaster then offered a bleak forecast for the spring quarter despite the return of a series Long-awaited series like Stranger Things, Ozark, and The Gray Man debut with Chris Evans and Ryan Gosling.


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