Netflix shares drop 25% after they lost 200K subscribers
Shares of Netflix stock fell 25% after word came out that they lost 200,000 subscribers. Now, while in the grand scheme of things, 200K subscribers to a company that has MILLIONS of subscribers may not seem devastating, but Wall Street looks at it as a sign of things to come. No doubt things have been troubling for Netflix, first of all, they are no longer the only game in town. There are so many streaming apps, each with their own benefits and some have really taken a chunk out of Netflix's subscriber base. With so many choices, people are cutting services to get the most entertainment bang for their buck and to be honest, Netflix has been falling kind of short. They do have some great original programs and movies, but overall, when I look at new releases every week, it seems that half of the shows are subtitled and do they HAVE to give a special to EVERY comedian?? You take the quality of content, mixed with an abundance of other streaming choices, then add in the fact that Netflix has raised rates and has announced some sort of plan to crack down on sharing passwords. To be fair, a lot of the loss came from the fact that Netflix has decided to pull out of Russia due to their attack on the Ukraine, but there is no doubt that Netflix is bleeding and they are gonna need more than a Band-Aid. More here
Source: https://apnews.com/
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